National Health Investors reported a robust third quarter with a notable 63% increase in SHOP NOI, bolstered by strategic property transitions and a strong acquisition pipeline, leading to a third upward revision in annual guidance.

• SHOP NOI growth of approximately 63% year-over-year, driven by the transition of 7 properties.
• First SHOP acquisition completed for $74.3 million, expected to yield an NOI of 8.2%.
• Full-year guidance raised for a projected NFFO per share growth of over 10%, marking the strongest growth since 2014.
• A solid pipeline of acquisitions valued at $195 million under signed Letters of Intent, anticipated to close in late 2025 and early 2026.
• Financial health remains strong with a net debt to adjusted EBITDA of 3.6x and over $1 billion in available liquidity, providing a competitive advantage.