Wednesday, Nationwide Health Properties Inc. (NHP), real estate investment trust, reported an increase in its funds from operations, or FFO, for the second quarter, as revenues grew 26.7% over the year-ago quarter. The company also revised its FFO guidance for the third quarter.
Funds from operations for the second quarter rose to $57.8 million or $0.56 per share from $48.6 million or $0.51 per share in the same quarter last year. Analysts polled by First Call/Thomson Financial expected earnings of $0.55 per share for the quarter.
Net income for the quarter grew to $166 million or $1.69 per share from $83.6 million or $0.93 per share in the same quarter last year. Income from continuing operations was $27.4 million or $0.26 per share, higher than $20.9 million or $0.19 per share in the prior year quarter.
Revenues for the quarter increased 26.7% to $94 million from $74.2 million a year ago. Analysts anticipated revenues of $83.3 million for the quarter.
For the six-month period, FFO increased to $114.1 million or $1.12 per share from $95.3 million or $1.01 per share last year. Earnings were $201.3 million or $2.08 per share, up from $105.9 million or $1.18 per share prior year. Revenues increased to $180.2 million from $143.8 million a year ago.
Looking ahead to fiscal 2008, the company now expects FFO per share of $2.19 - $2.23, compared to $2.18 - $2.23 earlier. Analysts expect FFO of $2.22 per share for the quarter.
Nationwide Health closed Wednesday's regular trading at $36.81, down $2.81 or 7.09%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.