Nationwide Health Properties Inc.

The Newport Beach real estate investment trust, which invests in health care facilities, reported that funds from operations increased 1% to $24.8 million, or 54 cents a share, for the first quarter from $24.5 million, or 53 cents a share, for the 1999 first quarter. Net income rose 1% to $16 million, or 35 cents a share, from $15.8 million, or 34 cents a share, a year ago. The net income for the most recent quarter included a $1-million gain from the sale of four skilled nursing facilities. Revenue was up 9% to $42.8 million.