CEO Eric Mendelsohn of National Health Investors (NYSE: NHI) anticipates an active investment year in 2024. Though specific strategies were not outlined, he expressed growing optimism about the company’s investment pipeline.
Market conditions favor REITs like NHI, as large peers face cost of capital disparities. Mendelsohn advised customers to select partners for long-term success, emphasizing that banks are not lending and sellers are becoming more rational with pricing expectations.
The company also sees confidence in its senior housing operating portfolio (SHOP), noting a 24.4% sequential NOI growth in the fourth quarter of 2023. Opportunities across senior housing, skilled nursing, loan-lease, and joint ventures are under consideration.
While remaining cautious on investments, NHI has a favorable balance sheet and stock rose nearly 6.6%. Occupancy for the portfolio improved, and the company expects shop NOI to grow 25-30% in 2024.
NHI aims to accelerate growth in 2024, leveraging favorable investment and lending environments to capitalize on opportunities.
