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NATIONWIDE HEALTH PROPERTIES INC. ANNOUNCES RECORD THIRD QUARTER EARNINGS

 NEWPORT BEACH, Calif., Oct. 12 /PRNewswire/ -- Nationwide Health Properties Inc. (NYSE: NHP) announced today the results of its operations for the third quarter and nine months ended Sept. 30, 1993.
 Net income increased to $10,608,000, or $.59 per share, compared with $8,673,000, or $.53 per share, for the third quarter a year ago, a per share increase of 11 percent. Revenues for the quarter increased 10 percent to $15,236,000, compared with the third quarter of last year. Funds from operations for the quarter increased 9 percent to $.74 per share, compared with $.68 per share, in the third quarter in 1992.
 For the nine months ended Sept. 30, 1993, net income increased to $30,307,000, or $1.73 per share, compared to $20,598,000, or $1.44 per share, for the nine months ended Sept. 30, 1992. Revenues increased 24 percent to $44,389,000, compared to $35,683,000 a year ago. Funds from operations per share increased 13 percent to $2.17 vs. $1.92 for the nine months ended Sept. 30, 1992.
 "The gain in per share earnings and funds from operations continue to reflect the positive results of the company's acquisition activities and the internal growth from additional rentals that are an integral part of the leases on the company's facilities. The earnings and funds flow for both the third quarter 1992 and 1993 include the financial results from the company's acquisition of the RTC portfolio in July 1992," 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 159 facilities in 28 states.
 NATIONWIDE HEALTH PROPERTIES INC.
 Results of Operations
 (In thousands except per share amounts)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Revenues $15,236 $13,860 $44,389 $35,683
 Net income $10,608 $8,673 $30,307 $20,598
 Net income per share $0.59 $0.53 $1.73 $1.44
 Funds from operations
 per share $0.74 $0.68 $2.17 $1.92
 Weighted average
 shares outstanding 17,862 16,286 17,470 14,316
 -0- 10/12/93
 /CONTACT: R. Bruce Andrews, president & CEO, or Mark L. Desmond, VP & treasurer, 714-251-1211/
 (NHP)


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

JL-LM -- LA009 -- 0940 10/12/93 08:50 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
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