Nationwide Health Properties, Inc. (NYSE: NHP) last week announced results of operations for the first quarter ended March 31, 2010. NHP saw revenues increase by 5% compared to Q1 2009 to $102 million. The company showed a lower net income of $31 million in Q1 2010 versus $49 million in Q1 2009 that included a $21 million gain on sale. NHP’s diluted funds from operations (FFO) for the first quarter was $64.9 million compared to $61.5 million in 2009.
"We began 2010 with a strong balance sheet and an enviable liquidity position. Leveraging our excellent financial position with improvements in the capital markets and the economy, we acquired during the first quarter seven medical office buildings and made an $80 million loan secured by 26 medical office buildings located in seven states," commented Douglas M. Pasquale, NHP’s Chairman and Chief Executive Officer. "Subsequent to quarter end, we have completed an additional $58 million of investments bringing the year to date total to $438 million," Mr. Pasquale added.