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Contact : John L. Spaid , Chief Financial Officer Phone : ( 615 ) 890-9100 NHI NATIONAL HEALTH INVESTORS Financial Results Ⓡ NHI Announces First Quarter 2021 Results Exhibit 99.1 MURFREESBORO , Tenn . - ( May 10 , 2021 ) National Health Investors , Inc. ( NYSE : NHI ) announced today its results for the three months ended March 31 , 2021 . Net income attributable to common stockholders per diluted common share for the three months ended March 31 , 2021 was $ 0.78 , a decrease of 43.1 % from the same period in the prior year . The decline is attributable to a $ 21 million gain on the sale of real estate assets in the first quarter of 2020 , $ 4.2 million in rent deferrals incurred during the first quarter of 2021 , and a $ 3.6 million year - over - year increase in non - cash stock - based compensation . Normalized FAD for the three months ended March 31 , 2021 was $ 59.6 million which was flat compared to the same period in the prior year and an increase of 0.9 % compared to the fourth quarter of 2020 . Normalized FFO per diluted common share for the three months ended March 31 , 2021 was $ 1.24 , a decrease of 8.8 % from the same period in the prior year . National Association of Real Estate Investment Trusts ( " NAREIT " ) FFO per diluted common share for the three months ended March 31 , 2021 was $ 1.23 , a decrease of 8.9 % from the same period in the prior year . Net income , Normalized FFO and NAREIT FFO per common share for the three months ended March 31 , 2021 include the dilutive impact of 1,200,597 common shares issued since March 31 , 2020 . Eric Mendelsohn , NHI President and CEO , stated , “ Our first quarter results were ahead of our internal expectations driven by fewer deferrals than anticipated and cash collections at over 94 % for the quarter . However , the length and severity of this pandemic is making it clear that our tenants will need more assistance over the coming quarters . Our prudent capital structure puts us in a position to help our tenants bridge the gap to a more stable operating environment . " Mr. Mendelsohn continued , " The roll - out of the vaccine across our portfolio has been a tremendous success and our communities are opening up again with good initial occupancy trends including a 180 basis point monthly increase for Bickford in April . But the road to a full recovery is likely to be uneven which will make 2021 a difficult year . " Mr. Mendelsohn concluded , " We are motivated to use this crisis to transform into a stronger , leaner healthcare REIT which can be accomplished through lease restructurings , shedding under - performing assets , and finding operators that are better aligned with our goals . Fortunately , we are in an excellent financial position to weather this crisis and to emerge as a stronger company . " Collections and Deferrals NHI collected 94.3 % of contractual cash due for the quarter ended March 31 , 2021. The remaining balance is comprised of the following : 4.6 % in deferrals related to Bickford Senior Living ( “ Bickford " ) ; 0.5 % in deferrals related to one other tenant ; and 0.6 % related to lower forecasted revenue from transitioned properties prior to the start of the pandemic .