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NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES 29 PERCENT INCREASE IN SECOND QUARTER EARNINGS PER SHARE

 NEWPORT BEACH, Calif., July 13 /PRNewswire/ -- Nationwide Health Properties Inc. (NYSE: NHP) announced today the results of its operations for the second quarter and six months ended June 30, 1993.
 Net income increased to $10,066,000, or $.58 per share, compared with $6,068,000, or $.45 per share for the second quarter a year ago, a per share increase of 29 percent. Revenues for the quarter increased 35 percent, to $14,728,000 compared with the second quarter of last year. Funds from operations for the quarter increased 16 percent, to $.72 per share, compared with $.62 per share in the second quarter of 1992.
 For the six months ended June 30, 1993, net income increased to $19,699,000, or $1.14 per share, compared to $11,925,000, or $.90 per share for the six months ended June 30, 1992. Revenues increased 34 percent to $29,153,000, compared to $21,823,000 a year ago. Funds from operations per share increased 16 percent to $1.43, vs. $1.23 for the six months ended June 30, 1993.
 "The record level of per share earnings and funds from operations continue 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 funds from operations has allowed the company to maintain a conservative dividend payout ratio of 83 percent for the second quarter of 1993," said R. Bruce Andrews, president and chief executive officer.
 Nationwide Health Properties, is a real estate investment trust that invests in health care facilities. The company has investments in 160 facilities in 28 states.
 NATIONWIDE HEALTH PROPERTIES INC.
 Results of Operations
 (In thousands except per share amounts)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Revenues $14,728 $10,904 $29,153 $21,823
 Net income $10,066 $6,068 $19,699 $11,925
 Net income per share $0.58 $0.45 $1.14 $0.90
 Funds from operations
 per share $0.72 $0.62 $1.43 $1.23
 Weighted average shares
 outstanding 17,479 13,373 17,270 13,321
 -0- 7/13/93
 /CONTACT: R. Bruce Andrews, president and CEO, or Mark L. Desmond, VP and treasurer, 714-251-1211, both of Nationwide Health Properties/
 (NHP)


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

BP-JB -- LA019 -- 0940 07/13/93 13:49 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
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