Nationwide Health Properties Sees FFO Rise in Q2 2010

Nationwide Health Properties, Inc. (NYSE: NHP) announced results of operations for the second quarter ended June 30, 2010. NHP’s Q2 2010 revenues increased 12.9% TO $109 million compared to $96 million in second quarter 2009 and its Funds From Operations (FFO) rose to $68 million versus $65 million in Q2 2009.  NHP reported second-quarter income available to common stockholders was $37.17 million or $0.30 per share.

"We maintained the first quarter momentum with $194 million of investments in the second quarter. The initial yield on the $578 million of investments made in the first six months of the year is 8.5%," commented Douglas M. Pasquale, NHP’s Chairman and Chief Executive Officer. "Our liquidity position remains strong with $173 million in cash at quarter end and the extension of the maturity date of our $700 million credit facility to December 15, 2011. NHP’s outstanding credit statistics and available capital facilitate our ability to add accretive investments in the coming quarters," Mr. Pasquale added.


For more detail, visit NHP Q2 2010 8-K