Nationwide Health Properties 2009 Results Focus On Balance Sheet Strengthening

Nationwide Health Properties, Inc. (NYSE: NHP) today announced results of operations for the fourth quarter and the year ended December 31, 2009 that showed Diluted Funds From Operations (FFO) Per Share $2.27 for the full year.  These results were slightly lower than 2008’s Diluted FFO Per Share of $2.29.  NHP announced that it issued 2.3 million shares of our common stock at an average price of $33.27 per share, resulting in net proceeds of approximately $76.2 million during the fourth quarter.  The company anticipates acquiring majority interests in joint ventures that own the Mission, Orange, and Pasadena, CA assets and the 55.05% interest in the two San Bernardino, CA assets during the first quarter 2010.  NHP announced as part of its earnings release that its FFO guidance per share range is from $2.05 to $2.09 and adjusted diluted FAD guidance per share range is from $2.01 to $2.05.

"We began 2009 with the capital markets under extreme duress and the recession gripping the U.S. economy. During that difficult period, NHP’s primary goals were to fortify its already strong balance sheet and further enhance its liquidity position. These goals were clearly accomplished as evidenced by upgrades to our investment grade rating, leverage-related statistics among the very best for investment grade REITs and over $1 billion of available capital," commented Douglas M. Pasquale, NHP’s Chairman and Chief Executive Officer. "For 2010, our strong financial position combined with improvements in the capital markets and the economy has shifted our attention to growth. In February, we acquired two PMB properties for $90 million and improved our multi-year development agreement with them. We expect to close on another five PMB properties before the end of the first quarter."

NHP Q4 2009 Earnings Press Release



Supplemental Data on it’s 8-K