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NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES 27 PERCENT INCREASE IN FIRST QUARTER EARNINGS PER SHARE

 NEWPORT BEACH, Calif., April 12 /PRNewswire/ -- Nationwide Health Properties Inc. (NYSE: NHP) announced today the results of its operations for the first quarter of 1993.
 Net income increased to $9,634,000, or $.56 per share, compared with $5,857,000, or $.44 per share, for the first quarter a year ago, a per share increase of 27 percent. Revenues for the quarter increased 32 percent to $14,425,000, compared with the first quarter of last year.
 Cash flow available from operations for the quarter increased 16 percent to $.71 per share, compared with $.61 per share in the first quarter of 1992.
 "The growth in per share earnings and cash flow from operations continues to reflect the positive results of the company's acquisition activities and the underlying quality of the company's facilities. The growth rate of per share cash flow from operations continues to outpace the company's dividend growth rate and has lowered the company's dividend payout ratio to 82 percent for the first quarter of 1993," said R. Bruce Andrews, president and chief executive officer.
 Nationwide Health Properties Inc. is a real estate investment trust that invests in health care facilities. The company has investments in 155 facilities in 28 states.
 NATIONWIDE HEALTH PROPERTIES INC.
 Results of Operations
 (In Thousands Except Per Share Amounts)
 Three Months Ended
 March 31,
 1993 1992
 Revenues $14,425 $10,919
 Net income $9,634 $5,857
 Net income per share $0.56 $0.44
 Weighted average shares outstanding 17,059 13,268
 -0- 4/12/93
 /CONTACT: R. Bruce Andrews, president and CEO, or Mark L. Desmond, VP and treasurer, of Nationwide Health Properties, 714-251-1211/
 (NHP)


CO: Nationwide Health Properties Inc. ST: California IN: HEA SU: ERN

KJ-JB -- LA028 -- 4820 04/12/93 13:58 EDT
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Publication:PR Newswire
Date:Apr 12, 1993
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