Nationwide Health Properties Inc.

The Newport Beach real estate investment trust said fourth-quarter net income totaled $16.2 million, or 35 cents a share, 41% higher than the $11.5 million, or 25 cents a share, reported for the comparable period of 1998. Funds from operations totaled $25.4 million, or 55 cents a share, compared with $25.39 million, or 52 cents a share, a year ago. Revenue increased 10% to $42.2 million. For the year, net income totaled $63.1 million, or $1.37 a share, up 2% from $62.1 million, or $1.39 a share, for the 1998 period. The 1999 net income included a loss of $335,000 on the sale of facilities, while the 1998 figure included a gain of $2.3 million on these sales and a $5-million provision for reducing the value of certain assets. Funds from operations increased 3% to $99.6 million, or $2.16 a share, from $96.7 million, or $2.05 a share. Revenue rose 15% to $163.9 million.