v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Real estate properties:    
Land $ 232,660 $ 221,660
Buildings, improvements and intangibles 3,030,846 3,054,100
Construction in progress 19,336 18,214
Total real estate properties 3,282,842 3,293,974
Less: Accumulated depreciation and amortization (716,370) (821,702)
Total real estate properties, net 2,566,472 2,472,272
Mortgage and other notes receivable, net of credit loss reserve of $15,397 and $15,397, respectively 209,273 203,296
Cash and cash equivalents 30,388 19,624
Straight-line rents receivable 74,997 78,891
Assets held for sale, net 30,929 3,562
Other assets, net 52,143 19,242
Total assets [1] 2,964,202 2,796,887
Liabilities:    
Debt, net 1,274,522 1,163,814
Accounts payable and other liabilities 46,437 42,070
Operating lease liabilities 3,744 1,664
Dividends payable 45,245 44,439
Deferred income 4,265 4,996
Deferred income tax liabilities, net 732 0
Total liabilities [1] 1,374,945 1,256,983
Commitments and contingencies
Redeemable noncontrolling interest 10,367 10,195
Equity:    
Common stock 491 483
Capital in excess of par value 1,966,642 1,922,713
Retained earnings 2,842,779 2,747,006
Cumulative dividends (3,238,486) (3,148,659)
Total National Health Investors, Inc. stockholders’ equity 1,571,426 1,521,543
Noncontrolling interests 7,464 8,166
Total equity 1,578,890 1,529,709
Total liabilities and equity $ 2,964,202 $ 2,796,887
[1] Our condensed consolidated balance sheets included the following amounts related to our consolidated variable interest entities (“VIE”): $621.0 million and $403.4 million of real estate properties, net; $11.7 million and $9.1 million of cash and cash equivalents; $0.3 million and $0.6 million of straight-line rents receivable; $6.5 million and $4.2 million of other assets, net; and $8.5 million and $5.5 million of accounts payable and other liabilities as of June 30, 2026 and December 31, 2025, respectively.