Nationwide Health Properties : NEWPORT BEACH
Nature of business: Investment trust specializing in health-care facilities. Total employees: 8 In Orange County: 8 Stock listing in The Times: On NYSE “NatHP” Ticker symbol: “NHP” Friday’s stock close: $38.25 One-week change: Down $0.63 Analyst review: “Nationwide Health Properties is a conservatively managed, equity-oriented company with a primary emphasis on acquisition and ownership of nursing homes. It does not operate the facilities. Instead, it leases them on a long-term basis to high-quality operators. In the next few months it will most likely announce the acquisition of additional properties. For now, it will continue to be affected by investor uncertainty toward health care stocks until more is known about health care policy reforms. But in the long-term, there will be many good things to come out of its nursing home investment emphasis.”
--Marsha J. Camp, associate analyst
A. G. Edwards & Sons, St. Louis
* Dollar amount in millions Revenue
1990 1991 1992 1992 1993 $31.5 $36.4 $49.9 $21.8 $29.1
Profit
1990 1991 1992 1992 1993 $17.1 $18.1 $29.7 $11.9 $19.7
*
Corporate outlook: “Our quarterly growth is largely the result of the acquisition of performing mortgages worth $95 million in July, 1992. We will continue to focus on nursing home properties, since the demographics of the population indicate an ongoing need and upcoming health care reforms will not be detrimental to these comparatively low-cost providers.”
--Mark Desmond, CFO
*RETURN ON INVESTMENT 3-YEAR SUMMARY AND YEAR-TO-DATE:
Fiscal year ending Dec. 31 Dec. 31 Dec. 31 2 qtrs. 1990 1991 1992 1992 52-week high $18.00 $26.88 $32.13 $28.75 52-week low $13.75 $18.38 $24.75 $24.75 Book value per share $17.19 $17.09 $20.26 $23.52 Price per share $17.00 $26.75 $31.75 $28.50 Net profit per share $1.56 $1.41 $2.00 $0.90 Price-to-earnings ratio 11:1 19:1 16:1 16:1 Avg. return on investor equity 9.0% 8.0% 10.0% 8.0%
Fiscal year ending 2 qtrs. 1993 52-week high $40.00 52-week low $31.38 Book value per share $18.61 Price per share $38.50 Net profit per share $1.14 Price-to-earnings ratio 17:1 Avg. return on investor equity 12.3%
For more information call or write, Nationwide Health Properties: 4675 MacArthur Court, Suite 1170, Newport Beach, Calif., 92660. (714) 251-1211. Sources: Nationwide Health Properties; Bloomberg Business News
