Nationwide Health Properties FFO Up, Raises Outlook

Nationwide Health Properties, Inc. (NYSE: NHP) released its operating results this week for the third quarter ended September 30, 2010 that showed revenues of $114 million, up almost 18% from the same period in 2009.  NHP’s profit for Q3 was $39.9 million or 31 cents per share and its Funds From Operations (FFO) was 59 cents per share.  The company increased its outlook for FFO to $2.27 to $2.28 a share from $2.23 to $2.25.

"Our third quarter results reflect year to date investments of $676 million, and our pipeline is robust. Compared to the third quarter of 2009, revenue is up 17.6%, adjusted diluted FFO per share is up 5.4% and adjusted diluted FAD per share is up 5.5%. As a result, and for the third consecutive quarter, NHP’s Board of Directors increased our quarterly dividend by $0.01 to $0.47 per share," commented Douglas M. Pasquale, NHP’s Chairman and Chief Executive Officer.

NHP 8-K for Q3 2010