Nationwide Health Properties Inc.: The Newport Beach...

Nationwide Health Properties Inc.: The Newport Beach real estate investment trust specializing in health-care facilities reported that net income rose to $17.1 million for 1990, a 47% gain from the $11.6 million posted for 1989. The sale of some facilities caused an 11% drop in revenue, to $31.5 million from $35.3 million. For the fourth quarter, net income rose 41%, to $4.5 million from $3.2 million for the comparable 1989 quarter. Revenue was down 5%, to $8.2 million from $8.6 million.