National Health Investors (NHI) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 04, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	NATIONAL HEALTH INVESTORS INC
Entity Central Index Key	877,860
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		40,986,651

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets
Land	$ 183,943	$ 172,003
Buildings and improvements	2,408,660	2,285,122
Construction in progress	20,201	15,729
Real estate properties, gross	2,612,804	2,472,854
Less accumulated depreciation	(345,992)	(313,080)
Real estate properties, net	2,266,812	2,159,774
Mortgage and other notes receivable, net	141,107	133,493
Cash and cash equivalents	3,470	4,832
Straight-line rent receivable	83,273	72,518
Other assets	16,380	33,016
Total Assets	2,511,042	2,403,633
Liabilities and Equity
Debt	1,145,005	1,115,981
Accounts payable and accrued expenses	18,301	20,874
Dividends Payable	38,935	35,863
Lease deposit liabilities	22,375	21,325
Total Liabilities	1,224,616	1,194,043
Commitments and Contingencies
Stockholders' Equity:
Common stock, $.01 par value; 60,000,000 shares authorized; 40,978,934 and 39,847,860 shares issued and outstanding, respectively	410	398
Capital in excess of par value	1,254,516	1,173,588
Cumulative net income in excess of dividends	34,624	29,873
Accumulated other comprehensive income	(3,124)	5,731
Total Equity	1,286,426	1,209,590
Total Liabilities and Equity	$ 2,511,042	$ 2,403,633

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	40,984,289	39,847,860
Common stock, shares outstanding	40,984,289	39,847,860

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Rental income	$ 65,735	$ 57,028	$ 128,873	$ 112,102
Interest income from mortgage and other notes	3,992	3,307	7,081	6,468
Investment income and other	109	869	271	1,652
Revenues	69,836	61,204	136,225	120,222
Expenses:
Depreciation	16,829	14,695	32,983	28,429
Interest, including amortization of debt discount and issuance costs	11,828	10,666	23,489	20,928
Legal	146	124	202	250
Franchise, excise and other taxes	267	273	534	555
General and administrative	2,521	2,120	6,630	5,048
Loan and realty losses (recoveries)	0	14,726	0	14,726
Total operating expenses	31,591	42,604	63,838	69,936
Income before equity-method investee, TRS tax benefit, investment and other gains and noncontrolling interest	38,245	18,600	72,387	50,286
Loss from equity-method investee	0	(57)	0	(460)
Income tax benefit attributable to taxable REIT subsidiary	0	23	0	184
Investment and other gains	0	26,415	10,088	28,080
Net income	38,245	44,981	82,475	78,090
Less: net income attributable to noncontrolling interest	0	(386)	0	(770)
Net income attributable to common stockholders	$ 38,245	$ 44,595	$ 82,475	$ 77,320
Weighted average common shares outstanding:
Basic	40,982,244	38,520,221	40,468,024	38,460,934
Diluted	41,245,173	38,561,384	40,679,345	38,488,088
Basic:
Net income per common share attributable to common stockholders	$ 0.93	$ 1.16	$ 2.04	$ 2.01
Diluted:
Net income per common share attributable to common stockholders	$ 0.93	$ 1.16	$ 2.03	$ 2.01

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 38,245	$ 44,981	$ 82,475	$ 78,090
Other comprehensive income (loss):
Change in unrealized gains on securities	0	4,620	(26)	7,456
Reclassification for amounts recognized in investment and other gains	0	(23,487)	(10,038)	(23,498)
Increase (decrease) in fair value of cash flow hedge	690	2,331	225	7,811
Less: reclassification adjustment for amounts recognized in net income	645	1,004	1,434	2,017
Total other comprehensive income (loss)	(45)	(20,194)	(8,855)	(21,836)
Comprehensive income	38,200	24,787	73,620	56,254
Less: comprehensive income attributable to noncontrolling interest	0	(386)	0	(770)
Comprehensive income attributable to common stockholders	$ 38,200	$ 24,401	$ 73,620	$ 55,484

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income	$ 82,475	$ 78,090
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	32,983	28,429
Amortization	2,479	1,772
Straight-line rental income	(12,005)	(10,583)
Non-cash interest income on construction loan	(470)	(386)
Gain on sale of real estate	(50)	(4,582)
Loss on modification and extinguishment of debt	96	0
Non-cash write-offs due to lease transition	0	14,726
Gain on sale of marketable securities	(10,038)	(23,498)
Share-based compensation	1,865	1,230
Amortization of commitment fees	(349)	(143)
Loss from equity-method investee	0	460
Change in operating assets and liabilities:
Other assets	(2,321)	(109)
Accounts payable and accrued expenses	283	(2,211)
Net cash provided by operating activities	94,948	83,195
Cash flows from investing activities:
Investment in mortgage and other notes receivable	(30,950)	(41,673)
Collection of mortgage and other notes receivable	24,155	15,855
Investment in real estate	(128,411)	(261,610)
Investment in real estate development	(8,446)	(15,554)
Investment in renovations of existing real estate	(2,891)	(815)
Payment allocated to lease purchase option	0	6,400
Long-term escrow deposit	0	4,500
Proceeds from disposition of real estate properties	450	27,723
Proceeds from sales of marketable securities	18,182	56,449
Net cash used in investing activities	(127,911)	(230,525)
Cash flows from financing activities:
Net change in borrowings under revolving credit facilities	30,000	157,000
Payments on term loans	(394)	(381)
Value of shares withheld from options exercised for employee tax withholding	(360)	(822)
Proceeds from issuance of common shares, net	79,772	50,190
Consideration provided in convertible bond repurchase	(2,766)	0
Distributions to noncontrolling interest	0	(866)
Dividends paid to stockholders	(74,651)	(67,201)
Net cash provided by (used in) financing activities	31,601	137,920
(Decrease) increase in cash and cash equivalents	(1,362)	(9,410)
Cash and cash equivalents, beginning of year	4,832	$ 13,286
Cash and cash equivalents, end of year	$ 3,470

Consolidated Statement Of Equit

Consolidated Statement Of Equity - 6 months ended Jun. 30, 2017 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Dividends In Excess Of Net Income [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance, shares at Dec. 31, 2016	39,847,860	39,847,860
Balance, value at Dec. 31, 2016	$ 1,209,590	$ 398	$ 1,173,588	$ 29,873	$ 5,731
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss) Attributable to Parent	82,475			82,475	(8,855)
Comprehensive income	73,620
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt, Subsequent Adjustments	(337)		(337)
Stock Issued During Period, Shares, New Issues		1,123,184
Stock Issued During Period, Value, New Issues	79,772	$ 12	79,760
Shares issued on stock options exercised, shares		13,245
Adjustments Related to Tax Withholding for Share-based Compensation	(360)		(360)
Share-based compensation	1,865		1,865
Dividends declared, $1.54 per share	$ (77,724)			(77,724)
Balance, shares at Jun. 30, 2017	40,984,289	40,984,289
Balance, value at Jun. 30, 2017	$ 1,286,426	$ 410	$ 1,254,516	$ 34,624	$ (3,124)

Consolidated Statement Of Equi8

Consolidated Statement Of Equity Consolidated Statement of Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.95	$ 0.90	$ 1.90

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES We, the management of National Health Investors, Inc., (“NHI” or the “Company”) believe that the unaudited condensed consolidated financial statements of which these notes are an integral part include all normal, recurring adjustments that are necessary to fairly present the condensed consolidated financial position, results of operations and cash flows of NHI in all material respects. The Condensed Consolidated Balance Sheet at December 31, 2016 has been derived from the audited consolidated financial statements at that date. We assume that users of these condensed consolidated financial statements have read or have access to the audited December 31, 2016 consolidated financial statements and that the adequacy of additional disclosure needed for a fair presentation, except in regard to material contingencies, may be determined in that context. Accordingly, footnotes and other disclosures which would substantially duplicate those contained in our most recent Annual Report on Form 10-K for the year ended December 31, 2016 have been omitted. This condensed consolidated financial information is not necessarily indicative of the results that may be expected for a full year for a variety of reasons including, but not limited to, acquisitions and dispositions, changes in interest rates, rents and the timing of debt and equity financings. For a better understanding of NHI and its condensed consolidated financial statements, we recommend reading these condensed consolidated financial statements in conjunction with the audited consolidated financial statements for the year ended December 31, 2016 , which are included in our 2016 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission, a copy of which is available at our web site: www.nhireit.com . Principles of Consolidation - The accompanying condensed consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries, joint ventures, partnerships and consolidated variable interest entities (“VIE”) where NHI controls the operating activities of the VIE, if any. All intercompany transactions and balances have been eliminated in consolidation. Net income is reduced by the portion of net income attributable to noncontrolling interests. A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. We apply Financial Accounting Standards Board (“FASB”) guidance for our arrangements with VIEs which requires us to identify entities for which control is achieved through means other than voting rights and to determine which business enterprise is the primary beneficiary of the VIE. In accordance with FASB guidance, management must evaluate each of the Company’s contractual relationships which creates a variable interest in other entities. If the Company has a variable interest and the entity is a VIE, then management must determine whether or not the Company is the primary beneficiary of the VIE. If it is determined that the Company is the primary beneficiary, NHI consolidates the VIE. We identify the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. We perform this analysis on an ongoing basis. At June 30, 2017 , we held an interest in seven unconsolidated VIEs and, because we generally lack either directly or through related parties any material input in the activities that most significantly impact their economic performance, we have concluded that NHI is not the primary beneficiary. Accordingly, we account for our transactions with these entities and their subsidiaries at amortized cost. Our VIEs are summarized below by date of initial involvement. For further discussion of the nature of the relationships, including the sources of our exposure to these VIEs, see the notes to our condensed consolidated financial statements cross-referenced below. Date Name Source of Exposure Carrying Amount Maximum Exposure to Loss Sources of Exposure 2012 Bickford / Sycamore Notes and straight-line receivable $ 13,913,000 $ 35,717,000 Notes 2, 3, 6 2014 Senior Living Communities Notes and straight-line receivable $ 35,247,000 $ 48,610,000 Note 2,3 2014 Life Care Services affiliate Notes receivable $ 69,244,000 $ 78,280,000 Note 3 2015 East Lake Capital Mgmt. Straight-line receivable $ 2,467,000 $ 2,467,000 Note 2 2016 The Ensign Group developer N/A $ — $ — Note 2 2016 Senior Living Management Notes and straight-line receivable $ 25,784,000 $ 25,875,000 Note 3 2017 Ravn Senior Solutions Straight-line receivable $ 101,000 $ 101,000 Note 2 We are not obligated to provide support beyond our stated commitments to these tenants and borrowers whom we classify as VIEs, and accordingly our maximum exposure to loss as a result of these relationships is limited to the amount of our commitments, as shown above and discussed in the notes. When the above relationships involve leases, some additional exposure to economic loss is present and unquantifiable beyond that tabulated above, where we quantify potential accounting loss for those assets in which NHI has some basis. Generally, additional economic loss on a lease, if any, would be limited to that resulting from a short period of arrearage and non-payment of monthly rent before we are able to take effective remedial action, as well as costs incurred in transitioning the lease. The potential extent of such loss will be dependent upon individual facts and circumstances, cannot be quantified, and is therefore not included in the tabulation above. Typically, the only carrying amounts involving our leases are accumulated straight-line receivables. We apply FASB guidance related to investments in joint ventures based on the type of controlling rights held by the members’ interests in limited liability companies that may preclude consolidation by the majority equity owner in certain circumstances in which the majority equity owner would otherwise consolidate the joint venture. Equity-Method Investment - Through September 30, 2016, we reported our taxable REIT subsidiary (“TRS”) investment in an unconsolidated entity, over whose operating and financial policies we had the ability to exercise significant influence but not control, under the equity method of accounting. Under this accounting method, our pro rata share of the entity’s earnings or losses was included in our Condensed Consolidated Statements of Income. Additionally, we adjusted our investment carrying amount to reflect our share of changes in the equity-method investee’s capital resulting from its capital transactions. On September 30, 2016, we unwound the joint venture underlying the TRS and ceased participation in the operations which comprised all its activity. Noncontrolling Interest - We have excluded net income attributable to the noncontrolling interest from net income attributable to common shareholders in our Condensed Consolidated Statements of Income for the three and six months ended June 30, 2016 . As of December 31, 2016 and during the six months ended June 30, 2017 , we did not hold any noncontrolling interests. Real Estate Properties - Real estate properties are recorded at cost or, if acquired through business combination, at fair value, including the fair value of contingent consideration, if any. Cost or fair value at the time of acquisition is allocated among land, buildings, tenant improvements, lease and other intangibles, and personal property. For properties acquired in transactions accounted for as asset purchases, the purchase price allocation is based on the relative fair values of the assets acquired. Cost includes the amount of contingent consideration, if any, deemed to be probable at the acquisition date. Cost also includes capitalized interest during construction periods. We use the straight-line method of depreciation for buildings over their estimated useful lives of 40 years, and improvements over their estimated useful lives ranging fromto 25 years. For contingent consideration arising from business combinations, the liability is adjusted to estimated fair value at each reporting date through earnings. Reclassifications - We have reclassified certain balances where necessary to conform the presentation of prior periods to the current period. We have combined our investment in marketable securities into other assets in our Condensed Consolidated Balance Sheets. These reclassifications had no effect on previously reported net income. Use of Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Earnings Per Share - The weighted average number of common shares outstanding during the reporting period is used to calculate basic earnings per common share. Diluted earnings per common share assumes the exercise of stock options using the treasury stock method, to the extent dilutive. Diluted earnings per share also incorporate the potential dilutive impact of our convertible senior notes. We apply the treasury stock method to our convertible debt instruments, the effect of which is that conversion will not be assumed for purposes of computing diluted earnings per share unless the average share price for the period exceeds the conversion price per share. New Accounting Pronouncements - For a review of recent accounting pronouncements pertinent to our operations and management’s judgment as to the impact that the eventual adoption of these pronouncements will have on our financial position and results of operation, see Note 12.

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	REAL ESTATE As of June 30, 2017 , we owned 207 health care real estate properties located in 32 states and consisting of 134 senior housing communities (“SHO”), 68 skilled nursing facilities (“SNF”), 3 hospitals and 2 medical office buildings. Our senior housing properties include assisted living facilities, senior living campuses, independent living facilities, and entrance-fee communities. These investments (excluding our corporate office of $1,278,000 ) consisted of properties with an original cost of approximately $2,611,526,000 , rented under triple-net leases to 29 lessees. During the six months ended June 30, 2017 , we made investments related to real estate as described below (dollars in thousands) : Operator Date Properties Asset Class Amount Ravn Senior Solutions February 2017 2 SHO $ 16,100 Prestige Care March 2017 1 SHO 26,200 The LaSalle Group March 2017 5 SHO 61,865 The Ensign Group March 2017 1 SNF 15,096 Bickford Senior Living June 2017 1 SHO 10,400 $ 129,661 Ravn Senior Solutions On February 21, 2017, we acquired two assisted living/memory-care facilities totaling 86 units in Hendersonville, North Carolina, for $16,100,000 in cash, inclusive of $100,000 in closing costs and the funding of $207,000 in specified capital improvements. We leased the facilities to Ravn Senior Solutions (“RSS”) for an initial lease term of 15 years plus renewal options. The initial annual lease rate is 7.35% , plus fixed annual escalators. Additionally, the master lease conveys to NHI an option to purchase a third facility operated by RSS upon attainment of stabilization, as defined, at a specified capitalization rate based on the resulting metrics. The acquisition was accounted for as an asset purchase. In addition, we have committed to RSS certain earnout payments contingent on reaching and maintaining specified performance metrics. As earned, the earnout payments, totaling $1,500,000 , would be due in installments of up to $1,000,000 for performance measured as of December 31, 2018, with any subsequently earned cumulative unpaid amounts to be measured and due as earned for the periods ending December 31, 2019 and/or 2020. Upon funding, contingent payments earned will be added to the lease base. RSS’s relationship to NHI consists of its leasehold interests and purchase options and is considered a variable interest, analogous to a financing arrangement. RSS is structured to limit liability for potential damage claims, is capitalized for that purpose and is considered a VIE. Prestige On March 10, 2017, we acquired a 102 -unit assisted living community in Portland, Oregon for $26,200,000 , inclusive of closing costs of $112,000 . We leased the facility to Prestige Care (“Prestige”) under our existing master lease, which has a remaining lease term of 12 years plus renewal options. The lease provides for an initial annual lease rate of 7% plus annual escalators of 3.5% in years two through four and 2.5% thereafter. The acquisition was accounted for as an asset purchase. In addition, we have committed to Prestige certain earnout payments contingent on reaching and maintaining specified performance metrics. If earned, the earnout payments, totaling $1,000,000 , would be due in installments of up to $1,000,000 for performance measured as of December 31, 2017, with any subsequently earned cumulative unpaid amounts to be measured and due as earned for the period ending December 31, 2018. Upon funding, contingent payments earned will be added to the lease base. The LaSalle Group On March 16, 2017, we acquired five memory care communities totaling 223 units in Texas and Illinois for $61,800,000 in cash plus closing costs of $65,000 . We leased the facilities to The LaSalle Group (“LaSalle”) for an initial lease term of 15 years . The lease provides for an initial annual lease rate of 7% plus annual escalators of 3.5% in years two and three and 2.5% thereafter. In addition, we have committed to LaSalle certain earnout payments contingent on reaching and maintaining certain performance metrics. As earned, the earnout payments, totaling $5,000,000 , would be due in installments of up to $2,500,000 for performance measured as of December 31, 2018, with any subsequently earned cumulative unpaid amounts to be measured and due as earned for the trailing periods ending December 31, 2019 and/or 2020. Upon funding, contingent payments earned will be added to the lease base. Because the facility was owner-occupied, the acquisition was accounted for as an asset purchase. The Ensign Group On March 24, 2017, we acquired from a developer a 126 -bed skilled nursing facility in New Braunfels, Texas for a cash investment of $13,846,000 plus $1,250,000 contributed by the lessee, The Ensign Group (“Ensign”). The facility is included under our existing master lease for the remaining lease term of 14 years plus renewal options. The initial lease rate is set at 8.35% plus annual escalators based on prevailing inflation rates. The acquisition was accounted for as an asset purchase. With the acquisition of the New Braunfels property, NHI has a continuing commitment to purchase, from the developer, three new skilled nursing facilities in Texas for $42,000,000 which are newly developed and are leased to Legend Healthcare and subleased to Ensign. The fixed-price nature of the commitment creates a variable interest for NHI in the developer, whom NHI considers to lack sufficient equity to finance its operations without recourse to additional subordinated debt. The presence of these conditions causes the developer to be considered a VIE. Significant Customers Bickford On June 1, 2017, we acquired an assisted living/memory-care facility totaling 60 units in Lansing, Michigan, for $10,400,000 in cash, inclusive of $200,000 in closing costs. Additionally, we have committed to the funding of $475,000 in specified capital improvements, which will be added to the lease base. We leased the facility to Bickford Senior Living (“Bickford”) for an initial term of 14 years plus renewal options. The initial lease rate is 7.25% , plus annual fixed escalators. We accounted for the acquisition as an asset purchase. As of June 30, 2017 , our Bickford lease portfolio consists of 43 facilities, one of which is under construction and expected to open in the third quarter of 2017. Newly-constructed facilities have an annual lease rate of 9% at completion, after six months of free rent. NHI has a right to future Bickford acquisitions, development projects and refinancing transactions. Of these facilities, 35 were held in a RIDEA structure and operated as a joint venture until September 30, 2016, when NHI and Sycamore, an affiliate of Bickford, entered into a definitive agreement terminating the joint venture and converting Bickford’s participation to a triple-net tenancy with assumption of existing leases and terms. Through September 30, 2016, NHI owned an 85% equity interest and Sycamore owned a 15% equity interest in our consolidated subsidiary (“PropCo”). The facilities were leased to an operating company (“OpCo”), in which NHI previously held a non-controlling 85% ownership interest. The facilities are managed by Bickford. Our joint venture was structured to comply with the provisions of REIT Investment Diversification Empowerment Act of 2007 (“RIDEA”). On September 30, 2016, we unwound the joint venture underlying the RIDEA and reacquired Bickford's share of its assets. Effective May 1, 2017, NHI and Bickford announced a new amended and restated master lease covering 20 Bickford properties. Under terms of the new master lease, the base term for these properties will now extend to May 2031. Additionally, effective June 28, 2017, the leases of thirteen properties acquired in June 2013 and initially set for expiration in June 2018 have been renewed and extended through June 2023. As of June 30, 2017 our Bickford portfolio includes three master leases structured as following: Lease Expiration Sept / Oct 2019 June 2023 May 2031 Total Number of Properties 10 13 20 43 2017 Contractual Rent $ 8,994 $ 10,809 $ 16,620 $ 36,423 Straight Line Rent Adjustment (347 ) 226 4,378 4,257 Total Revenues $ 8,647 $ 11,035 $ 20,998 $ 40,680 Of our total revenues, $9,899,000 ( 14% ) and $7,165,000 ( 12% ) were recognized as rental income from Bickford for the three months ended June 30, 2017 and 2016 , including $907,000 and $63,000 in straight-line rent income, respectively. Of our total revenues, $19,273,000 ( 14% ) and $13,471,000 ( 11% ) were recognized as rental income from Bickford for the six months ended June 30, 2017 and 2016 , including $1,816,000 and $(2,000) in straight-line rent income (expense), respectively. Holiday As of June 30, 2017 , we leased 25 independent living facilities to an affiliate of Holiday Retirement (“Holiday”). The master lease term of 17 years began in December 2013 and currently provides for a minimum escalator of 3.5% through the end of the lease term. Of our total revenues, $10,954,000 ( 16% ) and $10,954,000 ( 18% ) were derived from Holiday for the three months ended June 30, 2017 and 2016 , including $1,849,000 and $2,241,000 in straight-line rent income, respectively. Of our total revenues, $21,908,000 ( 16% ) and $21,908,000 ( 18% ) were derived from Holiday for the six months ended June 30, 2017 and 2016 , including $3,698,000 and $4,482,000 in straight-line rent income, respectively. Our tenant operates the facilities pursuant to a management agreement with a Holiday-affiliated manager. NHC As of June 30, 2017 , we leased 42 facilities under two master leases to National HealthCare Corporation (“NHC”), a publicly-held company and the lessee of our legacy properties. The facilities leased to NHC consist of 3 independent living facilities and 39 skilled nursing facilities ( 4 of which are subleased to other parties for whom the lease payments are guaranteed to us by NHC). These facilities are leased to NHC under the terms of an amended master lease agreement originally dated October 17, 1991 (“the 1991 lease”) which includes our 35 remaining legacy properties and a master lease agreement dated August 30, 2013 (“the 2013 lease”) which includes 7 skilled nursing facilities acquired from a third party. The 1991 lease has been amended to extend the lease expiration to December 31, 2026. There are two additional 5 -year renewal options, each at fair rental value of such leased property as negotiated between the parties and determined without including the value attributable to any improvements to the leased property voluntarily made by NHC at its expense. Under the terms of the 1991 lease, the base annual rental is $30,750,000 and rent escalates by 4% of the increase, if any, in each facility’s revenue over a 2007 base year. The 2013 lease provides for a base annual rental of $3,450,000 and has a lease expiration of August 2028. Under the terms of the 2013 lease, rent escalates 4% of the increase, if any, in each facility’s revenue over the 2014 base year. For both the 1991 lease and the 2013 lease, we refer to this additional rent component as “percentage rent.” During the last three years of the 2013 lease, NHC will have the option to purchase the facilities for $49,000,000 . The following table summarizes the percentage rent income from NHC ( in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Current year $ 782 $ 733 $ 1,563 $ 1,466 Prior year final certification 1 — — 194 547 Total percentage rent income $ 782 $ 733 $ 1,757 $ 2,013 1 For purposes of the percentage rent calculation described in the master lease agreement, NHC’s annual revenue by facility for a given year is certified to NHI by March 31st of the following year. Of our total revenues, $9,318,000 ( 13% ) and $9,270,000 ( 15% ) were derived from NHC for the three months ended June 30, 2017 and 2016 , respectively and $18,831,000 ( 14% ) and $19,087,000 ( 16% ) were derived from NHC for the six months ended June 30, 2017 and 2016 , respectively. The chairman of our board of directors is also a director on NHC’s board of directors. As of June 30, 2017 , NHC owned 1,630,462 shares of our common stock. Senior Living Communities As of June 30, 2017 , we lease nine retirement communities totaling 1,970 units to Senior Living Communities, LLC (“Senior Living”). The 15 -year master lease, which began in December 2014, contains two 5 -year renewal options and provides for an annual escalator of 4% in 2018 and 3% thereafter. Of our total revenues, $11,431,000 ( 16% ) and $9,855,000 ( 16% ) in rental income were derived from Senior Living for the three months ended June 30, 2017 and 2016 , respectively, including $1,746,000 and $1,795,000 in straight-line rent income. Of our total revenue, $22,862,000 ( 17% ) and $19,711,000 ( 16% ) in lease revenues were derived from Senior Living for the six months ended June 30, 2017 and 2016 , respectively, including $3,492,000 and $3,591,000 in straight-line rent. Other Lease Activity HSM Lease Extension Effective as of May 1, 2017, we amended and extended our lease with Health Services Management (“HSM”) covering six skilled nursing facilities in Florida. The amended lease calls for $9,800,000 in first year cash rent, plus fixed annual escalators over a term of 12 years . The new agreement replaced the lease set to expire September 30, 2017, which provided for a total cash rent of $7,241,000 in 2016. Dispositions On March 22, 2016, we sold a skilled nursing facility in Idaho for cash consideration of $3,000,000 . The carrying value of the facility was $1,346,000 , and we recorded a gain of $1,654,000 . For the three months ended June 30, 2016 , lease income from the property was $73,000 . In May 2016 we sold two skilled nursing facilities for total consideration of $24,600,000 and realized a gain of $2,805,000 on the disposal. In June 2016, we recognized a gain of $123,000 on the sale of a vacant land parcel. No significant dispositions have occurred in 2017.

Mortgage And Other Notes Receiv

Mortgage And Other Notes Receivable	6 Months Ended
	Jun. 30, 2017
Financing Receivable, Net [Abstract]
Mortgage Notes Receivable	MORTGAGE AND OTHER NOTES RECEIVABLE At June 30, 2017 , we had net investments in mortgage notes receivable with a carrying value of $95,357,000 , secured by real estate and UCC liens on the personal property of 8 facilities, and other notes receivable with a carrying value of $45,750,000 , guaranteed by significant parties to the notes or by cross-collateralization of properties with the same owner. No allowance for doubtful accounts was considered necessary at June 30, 2017 or December 31, 2016 . Bickford At June 30, 2017 , our construction loans to Bickford are summarized as follows: Rate Maturity Commitment Drawn Location July 2016 9% 5 years $ 14,000,000 $ (6,120,000 ) Illinois January 2017 9% 5 years 14,000,000 (2,006,000 ) Michigan $ 28,000,000 $ (8,126,000 ) The promissory notes are secured by first mortgage liens on substantially all real and personal property as well as a pledge of any and all leases or agreements which may grant a right of use to the subject property. Usual and customary covenants extend to the agreements, including the borrower’s obligation for payment of insurance and taxes. NHI has a purchase option on the properties at stabilization, whereby annual rent will be set with a floor of 9.55% , based on NHI’s total investment, plus fixed annual escalators. Our loans to Bickford represent a variable interest as do our leases, which are considered analogous to financing arrangements. Bickford is structured to limit liability for potential claims for damages, is capitalized to achieve that purpose and is considered a VIE. Timber Ridge In February 2015, we entered into an agreement to lend up to $154,500,000 to LCS-Westminster Partnership III LLP (“LCS-WP”), an affiliate of Life Care Services (“LCS”). The loan agreement conveys a mortgage interest and facilitated the construction of Phase II of Timber Ridge at Talus (“Timber Ridge”), a Type-A Continuing Care Retirement Community in Issaquah, WA managed by LCS. Our loan to LCS-WP represents a variable interest. As an affiliate of a larger company, LCS-WP is structured to limit liability for potential damage claims, is capitalized to achieve that purpose and is considered a VIE. The loan takes the form of two notes under a master credit agreement. The senior note (“Note A”) totals $60,000,000 at a 6.75% interest rate with 10 basis-point escalators after year three , and has a term of 10 years. We have funded $51,871,000 of Note A as of June 30, 2017 . Note A is interest-only and is locked to prepayment for three years. After year three, the prepayment penalty starts at 5% and declines 1% per year. The second note (“Note B”) is a construction loan for up to $94,500,000 at an annual interest rate of 8% and a five -year maturity and was fully drawn during 2016. We began receiving repayment with new resident entrance fees upon the opening of Phase II during the fourth quarter of 2016. Repayment of Note B amounted to $76,220,000 as of June 30, 2017 . NHI has a purchase option on the entire Timber Ridge property for the greater of fair market value or $115,000,000 during a purchase option window of 120 days that will contingently open in year five or upon earlier stabilization of the development, as defined. Senior Living Communities In connection with the acquisition in December 2014 of the properties leased to Senior Living, we provided a $15,000,000 revolving line of credit, the maturity of which mirrors the 15 -year term of the master lease. Borrowings are used to finance construction projects within the Senior Living portfolio, including building additional units. Up to $5,000,000 of the facility may be used to meet general working capital needs. Amounts outstanding under the facility, $1,742,000 at June 30, 2017 , bear interest at an annual rate equal to the prevailing 10 -year U.S. Treasury rate, 2.31% at June 30, 2017 , plus 6% . In March 2016, we extended two mezzanine loans of up to $12,000,000 and $2,000,000 , respectively, to affiliates of Senior Living, to partially fund construction of a 186 -unit senior living campus on Daniel Island in South Carolina. The loans bear interest payable monthly at a 10% annual rate and mature in March 2021. The loans were fully drawn at June 30, 2017 , and provide NHI with a purchase option on the development upon its meeting certain operational metrics. The option is to remain open during the term of the loans, plus any extensions. Our loans to Senior Living and its subsidiaries represent a variable interest as does our lease, which is considered to be analogous to a financing arrangement. Senior Living is structured to limit liability for potential claims for damages, is appropriately capitalized for that purpose and is considered a VIE. Senior Living Management On August 3, 2016, we entered into an agreement to furnish to our current tenant, Senior Living Management, Inc. (“SLM”), through its affiliates, loans of up to $24,500,000 to facilitate SLM’s acquisition of five senior housing facilities that it currently operates. The loans consist of two notes under a master credit agreement, include both a mortgage and a corporate loan, and bear interest at 8.25% with terms of five years, plus optional one and two -year extensions. NHI has a right of first refusal if SLM elects to sell the facilities. The loans were fully funded as of June 30, 2017 . Our loans to SLM represent a variable interest as do our leases, which are analogous to financing arrangements. SLM is structured to limit liability for potential damage claims, is capitalized for that purpose and is considered a VIE. Other Note Activity In June 2017 Traditions of Minnesota paid off the undiscounted balance of $4,256,000 on its mortgage note outstanding to NHI. With the early payoff, we recognized interest income of $922,000 related to an early payment penalty and the retirement of the remaining unamortized discount.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2017
Other Assets [Abstract]
Other Assets Disclosure [Text Block]	OTHER ASSETS Other assets consist of the following ( in thousands ): June 30, December 31, Accounts receivable and other assets $ 3,753 $ 9,017 Regulatory deposits 8,208 8,208 Reserves for replacement, insurance and tax escrows 4,419 4,046 Marketable securities — 11,745 $ 16,380 $ 33,016 Reserves for replacement, insurance and tax escrows include amounts required to be held on deposit in accordance with regulatory agreements governing our Fannie Mae and HUD mortgages.

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Instruments [Abstract]
Debt Disclosure	DEBT Debt consists of the following ( in thousands ): June 30, December 31, Convertible senior notes - unsecured (net of discount of $4,098 and $4,717) $ 193,477 $ 195,283 Revolving credit facility - unsecured 188,000 158,000 Bank term loans - unsecured 250,000 250,000 Private placement term loans - unsecured 400,000 400,000 HUD mortgage loans (net of discount of $1,444 and $1,487) 44,003 44,354 Fannie Mae term loans - secured, non-recourse 78,084 78,084 Unamortized loan costs (8,559 ) (9,740 ) $ 1,145,005 $ 1,115,981 Aggregate principal maturities of debt as of June 30, 2017 for each of the next five years and thereafter, after giving effect to the modifications to our credit facility discussed below, are as follows ( in thousands ): Twelve months ended June 30, 2018 $ 808 2019 835 2020 438,863 2021 198,468 2022 923 Thereafter 519,209 1,159,106 Less: discount (5,542 ) Less: unamortized loan costs (8,559 ) $ 1,145,005 On August 3, 2017, we amended our unsecured $800,000,000 credit facility, scheduled to mature in June 2020, consolidating our three bank term loans into a single $250,000,000 term loan and extending the maturity of the term loan and $550,000,000 revolving credit facility to August 2022. The facility provides for floating interest on the term loan and revolver to be initially set at 30-day LIBOR plus 130 and 115 bps, respectively, based on current leverage metrics. Additional significant amendments to the facility include the refinement of the collateral pool, imposition of a 0% floor LIBOR base, movement from the payment of unused commitment fees to a facility fee of 20 basis points and the composition of creditors participating in our loan syndication. The employment of interest rate swaps for our fixed term debt leaves only our revolving credit facility exposed to variable rate risk. Our swaps and the financial instruments to which they relate are described in the table below, under the caption “Interest Rate Swap Agreements.” Our existing interest rate swap agreements collectively will continue through 2020 to hedge against fluctuations in variable interest rates applicable to the $250,000,000 term loan. Some new hedge inefficiency will result from introducing to the debt instrument a LIBOR floor that is not present in the hedges. To better reflect earnings, at the earliest allowable date we expect to adopt the proposed ASU discussed in Note 12 to the condensed consolidated financial statements, below, among whose provisions is expected to be the requirement to reflect the entire change in the fair value of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is presented. At June 30, 2017 , we had $362,000,000 available to draw on the revolving portion of our credit facility. The unsecured credit facility agreement requires that we maintain certain financial ratios within limits set by our creditors. To date, these ratios, which are calculated quarterly, have been within the limits required by the credit facility agreements. Pinnacle Bank is a participating member of our banking group. A member of NHI’s board of directors and chairman of our audit committee is also the chairman of Pinnacle Financial Partners, Inc., the holding company for Pinnacle Bank. NHI's local banking transactions are conducted primarily through Pinnacle Bank. Our unsecured private placement term loans are summarized below: Amount Inception Maturity Fixed Rate $ 125,000,000 January 2015 January 2023 3.99% 50,000,000 November 2015 November 2023 3.99% 75,000,000 September 2016 September 2024 3.93% 50,000,000 November 2015 November 2025 4.33% 100,000,000 January 2015 January 2027 4.51% $ 400,000,000 On August 8, 2017, we amended our private placement term loan agreements to largely conform those agreements with our bank credit facility. In March 2015 we obtained $78,084,000 in Fannie Mae financing. The term debt financing consists of interest-only payments at an annual rate of 3.79% and a 10 -year maturity. The mortgages are non-recourse and secured by thirteen properties leased to Bickford. Proceeds were used to reduce borrowings on NHI’s unsecured bank credit facility. The notes are secured by facilities having a net book value of $109,413,000 at June 30, 2017 , that were previously pledged as security on Fannie Mae term debt retired in December 2014. As of June 30, 2017 , we had outstanding $197,575,000 of 3.25% senior unsecured convertible notes due April 2021 (the “Notes”). Interest is payable April 1st and October 1st of each year. As adjusted for terms of the indenture, the Notes are convertible at a conversion rate of 14.17 shares of common stock per $1,000 principal amount, representing a conversion price of approximately $70.58 per share for a total of approximately 2,799,150 underlying shares. The conversion rate is subject to adjustment upon the occurrence of certain events, as defined in the indenture governing the Notes, but will not be adjusted for any accrued and unpaid interest except in limited circumstances. The conversion option is considered an “optional net-share settlement conversion feature,” meaning that upon conversion, NHI’s conversion obligation may be satisfied, at our option, in cash, shares of common stock or a combination of cash and shares of common stock. Because we have the ability and intent to settle the convertible securities in cash upon exercise, we use the treasury stock method to account for potential dilution. For the six months ended ended June 30, 2017 , dilution resulting from the conversion option within our convertible debt is 147,420 shares. If NHI’s current share price increases above the adjusted $70.58 conversion price, further dilution will be attributable to the conversion feature. On June 30, 2017 , the value of the convertible debt, computed as if the debt were immediately eligible for conversion, exceeded its face amount by $24,118,000 . The embedded conversion options (1) do not require net cash settlement, (2) are not conventionally convertible but can be classified in stockholders’ equity under Accounting Standards Codification ("ASC") 815-40, and (3) are considered indexed to NHI’s own stock. Therefore, the conversion feature satisfies the conditions to qualify for an exception to the derivative liability rules, and the Notes are split into debt and equity components. The value of the debt component is based upon the estimated fair value of a similar debt instrument without the conversion feature at the time of issuance and was estimated to be approximately $189,908,000 . The $7,667,000 difference between the contractual principal on the debt and the value allocated to the debt was recorded as the equity component and represents the estimated value of the conversion feature of the instrument. The excess of the contractual principal amount of the debt over its estimated fair value, the original issue discount, is amortized to interest expense using the effective interest method over the estimated term of the Notes. The effective interest rate used to amortize the debt discount and the liability component of the debt issue costs was approximately 3.9% based on our estimated non-convertible borrowing rate at the date the Notes were issued. The total cost of issuing the Notes was $6,063,000 , $275,000 of which was allocated to the equity component and $5,788,000 of which was allocated to the debt component and subject to amortization over the estimated term of the notes. The remaining unamortized balance at June 30, 2017 , was $2,769,000 . During the three months ended June 30, 2017, we undertook targeted open-market repurchases of certain of the convertible notes. Payments of cash negotiated in the transactions were dependent on prevailing market conditions, our liquidity requirements, contractual restrictions, individual circumstances of the selling parties and other factors. The total balance of notes repurchased and retired through June 30, 2017, net of unamortized original issue discount and associated issuance costs, was $2,339,000 , resulting in the recognition of a loss on the note retirement for the three months ended June 30, 2017, of $96,000 , calculated as the excess of cash paid over the carrying value of that portion of the notes accounted for as debt. For the retirement of that portion of the outlay allocated to the fair value of the conversion feature, $337,000 was charged to additional paid-in capital. Our HUD mortgage loans are secured by ten properties leased to Bickford and having a net book value of $53,446,000 at June 30, 2017 . Nine mortgage notes require monthly payments of principal and interest from 4.3% to 4.4% (inclusive of mortgage insurance premium) and mature in August and October 2049. One additional HUD mortgage loan assumed in 2014 requires monthly payments of principal and interest of 2.9% (inclusive of mortgage insurance premium) and matures in October 2047. The loan has an outstanding principal balance of $9,013,000 and a net book value of $7,569,000 , which approximates fair value. The following table summarizes interest expense ( in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Interest expense at contractual rates $ 10,957 $ 9,991 $ 21,779 $ 19,505 Capitalized interest (94 ) (196 ) (160 ) (316 ) Loss on conversion retirement 96 — 96 — Amortization of debt issuance costs and debt discount 869 871 1,774 1,739 Total interest expense $ 11,828 $ 10,666 $ 23,489 $ 20,928 Interest Rate Swap Agreements To mitigate our exposure to interest rate risk, we employ the following interest rate swap contracts on our bank term loans as of June 30, 2017 ( dollars in thousands ): Date Entered Maturity Date Fixed Rate Rate Index Notional Amount Fair Value May 2012 April 2019 3.29% 1-month LIBOR $ 40,000 $ (33 ) June 2013 June 2020 3.86% 1-month LIBOR $ 80,000 $ (1,083 ) March 2014 June 2020 3.91% 1-month LIBOR $ 130,000 $ (1,941 ) See Note 10 for fair value disclosures about our variable and fixed rate debt and interest rate swap agreements.

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	COMMITMENTS AND CONTINGENCIES In the normal course of business, we enter into a variety of commitments, typical of which are those for the funding of revolving credit arrangements, construction and mezzanine loans to our operators to conduct expansions and acquisitions for their own account, and commitments for the funding of construction for expansion or renovation to our existing properties under lease. In our leasing operations we offer to our tenants and to sellers of newly-acquired properties a variety of inducements which originate contractually as contingencies but which may become commitments upon the satisfaction of the contingent event. Contingent payments earned will be included in the respective lease bases when funded. The tables below summarize our existing, known commitments and contingencies according to the nature of their impact on our leasehold or loan portfolios. Asset Class Type Total Funded Remaining Loan Commitments: Life Care Services Note A SHO Construction $ 60,000,000 $ (51,871,000 ) $ 8,129,000 Bickford Senior Living SHO Construction 28,000,000 (8,126,000 ) 19,874,000 Senior Living Communities SHO Revolving Credit 29,000,000 (15,742,000 ) 13,258,000 $ 117,000,000 $ (75,739,000 ) $ 41,261,000 See Note 3 for full details of our loan commitments. As provided above, loans funded do not include the effects of discounts or commitment fees. We expect to fully fund the Life Care Services Note A during 2017. Funding of the promissory note commitments to Bickford is expected to transpire monthly throughout 2017. Asset Class Type Total Funded Remaining Development Commitments: Legend/The Ensign Group SNF Purchase $ 56,000,000 $ (14,000,000 ) $ 42,000,000 Bickford Senior Living SHO Construction 56,500,000 (53,857,000 ) 2,643,000 Chancellor Health Care SHO Construction 650,000 (62,000 ) 588,000 East Lake/Watermark Retirement SHO Renovation 10,000,000 (5,900,000 ) 4,100,000 Santé Partners SHO Renovation 3,500,000 (2,621,000 ) 879,000 Bickford Senior Living SHO Renovation 2,400,000 — 2,400,000 East Lake Capital Management SHO Renovation 400,000 — 400,000 Woodland Village SHO Renovation 350,000 (248,000 ) 102,000 $ 129,800,000 $ (76,688,000 ) $ 53,112,000 We remain obligated to purchase, from a developer, three new skilled nursing facilities in Texas for $42,000,000 which are leased to Legend and subleased to Ensign. We currently plan for the purchases to be completed in 2017 and 2018. We previously committed to develop five senior housing facilities in Illinois and Virginia leased by Bickford, each consisting of 60 private-pay assisted living and memory care units. Total costs funded includes land and development costs incurred on the project as of June 30, 2017 . One facility opened in July 2016, two opened in October 2016, one opened in April 2017 and one is planned to open in the third quarter of 2017. Asset Class Type Total Funded Remaining Contingencies: Bickford / Sycamore SHO Lease Inducement $ 10,000,000 $ (2,000,000 ) $ 8,000,000 East Lake Capital Management SHO Lease Inducement 8,000,000 — 8,000,000 Sycamore Street (Bickford affiliate) SHO Letter-of-credit 1,930,000 — 1,930,000 Ravn Senior Solutions SHO Earnout 1,500,000 — 1,500,000 Prestige Care SHO Earnout 1,000,000 — 1,000,000 The LaSalle Group SHO Earnout 5,000,000 — 5,000,000 $ 27,430,000 $ (2,000,000 ) $ 25,430,000 See Note 2 for a description of earnouts contingently payable to RSS, Prestige and LaSalle. Contingent developer’s fees and operator earnouts related to the five Bickford development properties under construction in 2016 and 2017 consist of a developer incentive of $250,000 per property. Additionally, each property is subject to a three-tiered operator incentive schedule whereby Bickford may receive up to an additional $1,750,000 , based on the attainment of certain performance metrics. Upon funding, these payments will be added to the lease base. In connection with our July 2015 lease to East Lake of three senior housing properties, NHI has committed to certain lease inducement payments of $8,000,000 contingent on reaching and maintaining certain metrics, which have been assessed as not probable of payment and which we have not recorded on our balance sheet as of June 30, 2017 . We are unaware of circumstances that would change our initial assessment as to the contingent lease incentives. Not included in the above table is a seller earnout of $750,000 , which is recorded on our balance sheet within accounts payable and accrued expenses. In February 2014 we entered into a commitment on a letter of credit for the benefit of Sycamore, an affiliate of Bickford, which previously held a minority interest in PropCo (see Note 2). At June 30, 2017 , our commitment on the letter of credit totaled $1,930,000 . As of June 30, 2017 , our direct support of Sycamore is limited to our guarantee on the letter of credit established for their benefit. Sycamore, as an affiliate company of Bickford, is structured to limit liability for potential claims for damages, is capitalized to achieve that purpose and is considered a VIE. Litigation Our facilities are subject to claims and suits in the ordinary course of business. Our lessees and borrowers have indemnified, and are obligated to continue to indemnify us, against all liabilities arising from the operation of the facilities, and are further obligated to indemnify us against environmental or title problems affecting the real estate underlying such facilities. While there may be lawsuits pending against certain of the owners and/or lessees of the facilities, management believes that the ultimate resolution of all such pending proceedings will have no material adverse effect on our financial condition, results of operations or cash flows.

Investment And Other Gains

Investment And Other Gains	6 Months Ended
	Jun. 30, 2017
Investment And Other Gains [Abstract]
Investment And Other Gains	INVESTMENT AND OTHER GAINS The following table summarizes our investment and other gains (in thousands) : Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Gains on sales of real estate $ — $ 2,928 $ 50 $ 4,582 Gains on sales of marketable securities — 23,487 10,038 23,498 $ — $ 26,415 $ 10,088 $ 28,080 In January and February 2017, we recognized gains of $10,038,000 on sales totaling $11,718,000 of marketable securities with a carrying value of $11,745,000 and an adjusted cost of $1,680,000 at December 31, 2016. Total proceeds of $18,182,000 from marketable securities include settlements occurring in 2017 of $6,464,000 that resulted from sales in December 2016.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2017
Deferred Compensation Arrangements [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION We recognize share-based compensation for all stock options granted over the requisite service period using the fair value of these grants as estimated at the date of grant using the Black-Scholes pricing model, and all restricted stock granted over the requisite service period using the market value of our publicly-traded common stock on the date of grant. Share-Based Compensation Plans The Compensation Committee of the Board of Directors (“the Committee”) has the authority to select the participants to be granted options; to designate whether the option granted is an incentive stock option (“ISO”), a non-qualified option, or a stock appreciation right; to establish the number of shares of common stock that may be issued upon exercise of the option; to establish the vesting provision for any award; and to establish the term any award may be outstanding. The exercise price of any ISO’s granted will not be less than 100% of the fair market value of the shares of common stock on the date granted, and the term of an ISO may not be more than ten years. The exercise price of any non-qualified options granted will not be less than 100% of the fair market value of the shares of common stock on the date granted unless so determined by the Committee. In May 2012, our stockholders approved the 2012 Stock Incentive Plan (“the 2012 Plan”) pursuant to which 1,500,000 shares of our common stock were made available to grant as share-based payments to employees, officers, directors or consultants. Through a vote of our shareholders on May 7, 2015, we increased the maximum number of shares under the plan from 1,500,000 shares to 3,000,000 shares; increased the automatic annual grant to non-employee directors from 15,000 shares to 20,000 shares; and limited the Company’s ability to re-issue shares under the Plan. As of June 30, 2017 , there were 961,668 shares available for future grants under the 2012 Plan. The individual restricted stock and option grant awards vest over periods up to five years. The term of the options under the 2012 Plan is up to ten years from the date of grant. In May 2005, our stockholders approved the NHI 2005 Stock Option Plan (“the 2005 Plan”) pursuant to which 1,500,000 shares of our common stock were made available to grant as share-based payments to employees, officers, directors or consultants. As of June 30, 2017 , the 2005 Plan has expired and no additional shares may be granted under the 2005 Plan. The individual restricted stock and option grant awards vest over periods up to ten years. The term of the options outstanding under the 2005 Plan is up to ten years from the date of grant. Compensation expense is recognized only for the awards that ultimately vest. Accordingly, forfeitures that were not expected will result in the reversal of previously recorded compensation expense. The compensation expense reported for the three months ended June 30, 2017 and 2016 was $342,000 and $251,000 , respectively, and is included in general and administrative expense in the Condensed Consolidated Statements of Income. For the six months ended June 30, 2017 and 2016 compensation expense included in general and administrative expense was $1,865,000 and $1,230,000 , respectively. At June 30, 2017 , we had, net of expected forfeitures, $1,302,000 of unrecognized compensation cost related to unvested stock options which is expected to be expensed over the following periods: 2017 - $685,000 , 2018 - $552,000 and 2019 - $65,000 . Stock-based compensation is included in general and administrative expense in the Condensed Consolidated Statements of Income. The weighted average fair value per share of options granted during the six months ended June 30, 2017 and 2016 was $5.75 and $3.65 , respectively. The fair value of each grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: 2017 2016 Dividend yield 5.3% 6.2% Expected volatility 19.7% 19.1% Expected lives 3.3 years 2.9 years Risk-free interest rate 1.49% 0.91% The following table summarizes our outstanding stock options: Six Months Ended June 30, 2017 2016 Options outstanding January 1, 541,679 741,676 Options granted under 2012 Plan 485,000 470,000 Options exercised under 2012 Plan (70,830 ) (451,668 ) Options forfeited under 2012 Plan (6,668 ) — Options exercised under 2005 Plan (15,000 ) — Options outstanding, June 30, 934,181 760,008 Exercisable at June 30, 540,830 406,660

Earnings and Dividends Per Shar

Earnings and Dividends Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS AND DIVIDENDS PER COMMON SHARE The weighted average number of common shares outstanding during the reporting period is used to calculate basic earnings per common share. Diluted earnings per common share assume the exercise of stock options and the conversion of our convertible debt using the treasury stock method, to the extent dilutive. If our average stock price for the period increases over the conversion price of our convertible debt, the conversion feature will be considered dilutive. The following table summarizes the average number of common shares and the net income used in the calculation of basic and diluted earnings per common share (in thousands, except share and per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Net income attributable to common stockholders $ 38,245 $ 44,595 $ 82,475 $ 77,320 BASIC: Weighted average common shares outstanding 40,982,244 38,520,221 40,468,024 38,460,934 DILUTED: Weighted average common shares outstanding 40,982,244 38,520,221 40,468,024 38,460,934 Stock options 66,137 41,163 63,901 27,154 Convertible subordinated debentures 196,792 — 147,420 — Average dilutive common shares outstanding 41,245,173 38,561,384 40,679,345 38,488,088 Net income per common share - basic $ .93 $ 1.16 $ 2.04 $ 2.01 Net income per common share - diluted $ .93 $ 1.16 $ 2.03 $ 2.01 Incremental shares excluded since anti-dilutive: Net share effect of stock options with an exercise price in excess of the average market price for our common shares 11,015 14,940 9,736 41,773 Regular dividends declared per common share $ .95 $ .90 $ 1.90 $ 1.80

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	6 Months Ended
	Jun. 30, 2017
Fair Value Of Financial Instruments [Abstract]
Fair Value Disclosures [Text Block]	FAIR VALUE OF FINANCIAL INSTRUMENTS Our financial assets and liabilities measured at fair value (based on the hierarchy of the three levels of inputs described in Note 1 to the consolidated financial statements contained in our most recent Annual Report on Form 10-K) on a recurring basis have included marketable securities, derivative financial instruments and contingent consideration arrangements. Marketable securities have consisted of common stock of other healthcare REITs. Derivative financial instruments include our interest rate swap agreements. Contingent consideration arrangements relate to certain provisions of recent real estate purchase agreements involving business combinations. Marketable securities. We utilize quoted prices in active markets to measure equity securities; these items are classified as Level 1 in the hierarchy and include the common stock of other publicly held healthcare REITs. Derivative financial instruments . Derivative financial instruments are valued in the market using discounted cash flow techniques. These techniques incorporate Level 1 and Level 2 inputs. The market inputs are utilized in the discounted cash flow calculation considering the instrument’s term, notional amount, discount rate and credit risk. Significant inputs to the derivative valuation model for interest rate swaps are observable in active markets and are classified as Level 2 in the hierarchy. Contingent consideration. Contingent consideration arrangements are classified as Level 3 and are valued using unobservable inputs about the nature of the contingent arrangement and the counter-party to the arrangement, as well as our assumptions about the probability of full settlement of the contingency. Assets and liabilities measured at fair value on a recurring basis are as follows (in thousands) : Fair Value Measurement Balance Sheet Classification June 30, December 31, Level 1 Common stock of other healthcare REITs Other assets $ — $ 11,745 Level 2 Interest rate swap liability Accounts payable and accrued expenses $ 3,057 $ 4,279 Carrying values and fair values of financial instruments that are not carried at fair value at June 30, 2017 and December 31, 2016 in the Condensed Consolidated Balance Sheets are as follows ( in thousands ): Carrying Amount Fair Value Measurement 2017 2016 2017 2016 Level 2 Variable rate debt $ 435,389 $ 404,828 $ 438,000 $ 408,000 Fixed rate debt $ 709,616 $ 711,153 $ 710,921 $ 706,332 Level 3 Mortgage and other notes receivable $ 141,107 $ 133,493 $ 144,448 $ 133,229 The fair value of mortgage and other notes receivable is based on credit risk and discount rates that are not observable in the marketplace and therefore represents a Level 3 measurement. Fixed rate debt. Fixed rate debt is classified as Level 2 and its value is based on quoted prices for similar instruments or calculated utilizing model derived valuations in which significant inputs are observable in active markets. Carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short-term nature. The fair value of our borrowings under our revolving credit facility and other variable rate debt are reasonably estimated at their notional amounts at June 30, 2017 and December 31, 2016 , due to the predominance of floating interest rates, which generally reflect market conditions.

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 11. SUBSEQUENT EVENTS Acadia In July 2017, NHI acquired a 10 -acre parcel of land (“Property”) for a cash price of $5,000,000 . The land is adjacent to NHI’s TrustPoint Hospital in Murfreesboro, which is currently leased to Acadia Healthcare Company (“Acadia”). Terms of the ground lease provide that NHI receive a 7% lease rate from Acadia, which is expanding its operations to include an attached wing primarily situated on the adjacent land. Initially, the lease provides for a term of 10 years with a 2% annual escalator beginning in year 2019. Acadia has a purchase option on the Property during a window opening in 2020 and extending through June 2023. In connection with the ground lease, the window of Acadia’s existing purchase option on the TrustPoint Hospital facility was postponed from 2018 to 2020 and coincides with the option window on the Property. Evolve On August 7, 2017, we completed a first mortgage loan of $10,000,000 to Evolve Senior Living (“Evolve”) for the purchase of a 40 unit memory care facility in New Hampshire. The loan provides for annual interest of 8% and a maturity of five years plus renewal terms at the option of the borrower. NHI has the option to purchase the facility at fair market value after year two of the loan. Credit Facility Modification See Note 5 for information related to the August 2017 modification of our credit facility.

Recent Accounting Pronouncement

Recent Accounting Pronouncements Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
Recent Accounting Pronouncements [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	RECENT ACCOUNTING PRONOUNCEMENTS In May 2014 the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers. ASU 2014-09 provides a principles-based approach for a broad range of revenue generating transactions, including the sale of real estate, which will generally require more estimates, judgment and disclosures than under current guidance. In August 2015 the FASB issued ASU 2015-14, which defers the effective date of ASU 2014-09. ASU 2014-09 is now effective for public entities for annual periods beginning after December 15, 2017, including interim periods therein. The Company plans on adopting this standard using the modified retrospective method on January 1, 2018. The ASU provides for revenues from leases to continue to follow the guidance in Topics 840 and 842 and provides for loans to follow established guidance in Topic 310. Because this ASU specifically excludes these areas of our operations from its scope, we do not expect any impact to our accounting for lease revenue and interest income to result from the ASU. Additionally, the other significant types of contracts in which we engage, sales of real estate to customers, typically never remain executory across points in time. Because all performances obligations from these contracts would fall within a single period, the timing of our revenue recognition from sales of real estate is not expected to be affected by the ASU. We are in the initial stages of our evaluation of the ASU, whose eventual adoption is not expected to have a material impact on the timing and measurement of the Company’s income. In February 2016 the FASB issued ASU 2016-02, Leases. Public companies will be required to apply ASU 2016-02 for all accounting periods beginning after December 15, 2018 - for calendar-year REITs this means application will be required beginning January 1, 2019. Early adoption is permitted. All leases with lease terms greater than one year are subject to ASU 2016-02 , including leases in place as of the adoption date. Management expects that, because of the ASU 2016-02’s emphasis on lessee accounting, ASU 2016-02 will not have a material impact on our accounting for leases. Consistent with present standards, NHI will continue to account for lease revenue on a straight-line basis for most leases. Also consistent with NHI’s current practice, under ASU 2016-02 only initial direct costs that are incremental to the lessor will be capitalized. In February 2016 the FASB issued ASU 2016-02, Leases. Public companies will be required to apply ASU 2016-02 for all accounting periods beginning after December 15, 2018 - for calendar-year REITs this means application will be required beginning January 1, 2019. Early adoption is permitted. All leases with lease terms greater than one year are subject to ASU 2016-02 , including leases in place as of the adoption date. Management expects that, because of the ASU 2016-02’s emphasis on lessee accounting, ASU 2016-02 will not have a material impact on our accounting for leases. Consistent with present standards, NHI will continue to account for lease revenue on a straight-line basis for most leases. Also consistent with NHI’s current practice, under ASU 2016-02 only initial direct costs that are incremental to the lessor will be capitalized. We are in the initial stages of evaluating the extent of the effects, if any, that adopting the provisions of ASU 2016-12 in 2019 will have on NHI. In June 2016 the FASB issued ASU 2016-13, Financial Instruments - Credit Losses . ASU 2016-13 will require more timely recognition of credit losses associated with financial assets. While current GAAP includes multiple credit impairment objectives for instruments, the previous objectives generally delayed recognition of the full amount of credit losses until the loss was probable of occurring. The amendments in ASU 2016-13, whose scope is asset-based and not restricted to financial institutions, eliminate the probable initial recognition threshold in current GAAP and, instead, reflect an entity’s current estimate of all expected credit losses. Previously, when credit losses were measured under GAAP we generally only considered past events and current conditions in measuring the incurred loss. The amendments in ASU 2016-13 broaden the information that we must consider in developing our expected credit loss estimate for assets measured either collectively or individually. The use of forecasted information incorporates more timely information in the estimate of expected credit loss that will be more useful to users of the financial statements. ASU 2016-13 is effective for public entities for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Because we are likely to continue to invest in loans and generate receivables, adoption of ASU 2016-13 in 2020 will have some effect on our accounting for these investments, though the nature of those effects will depend on the composition of our loan portfolio at that time; accordingly, we are in the initial stages of evaluating the extent of the effects, if any, that adopting the provisions of ASU 2016-13 in 2020 will have on NHI. In November 2016 the FASB issued ASU 2016-18, Restricted Cash . ASU 2016-18 will require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents, generally by requiring the inclusion of restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this Update do not provide a definition of restricted cash or restricted cash equivalents. ASU 2016-18 is effective for public entities for fiscal years beginning after December 15, 2017, including interim periods. The adoption of ASU 2016-18 is not expected to have a material effect on our consolidated financial statements. In January 2017 the FASB issued ASU 2017-01, Clarifying the Definition of a Business . ASU 2017-01 will narrow the definition of a business in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under the current implementation guidance in Topic 805, there are three elements of a business-inputs, processes, and outputs. Currently the definition of outputs contributes to broad interpretations of the definition of a business. Additionally, the Standard provides that when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. For purposes of this test, land and buildings can be combined along with the intangible assets for any in-place leases. For most of NHI’s acquisitions of investment property, this screen would be met and, therefore, not meet the definition of a business. ASU 2017-01 is effective for public entities for fiscal years beginning after December 15, 2017, including interim periods. Early application of this standard is generally allowed for acquisitions acquired after the standard was issued but before the acquisition has been reflected in financial statements. We adopted the provisions of ASU 2017-01 in the first quarter of 2017. The adoption of ASU 2017-01 did not have a material effect on our consolidated financial statements. Our acquisitions in 2017 were accounted for as asset acquisitions. On June 7, 2017, FASB members unanimously confirmed their intention to approve the proposed changes to the hedge accounting guidance in ASC 815. The final guidance is expected to be issued in the third quarter of 2017 with a mandatory effective date for public business entities’ fiscal years beginning after December 15, 2018. Early adoption is available for interim periods immediately upon issuance of the final guidance. Key provisions in the updated guidance include 1) changing the measurement and presentation of ineffectiveness in the financial statements so that the entire change in the fair value of the hedging instrument (including amounts excluded from the assessment of effectiveness) will be presented in the same income statement line item in which the earnings effect of the hedged item is presented, 2) changing effectiveness testing to allow the assessment of effectiveness on a qualitative basis in certain circumstances, and 3) adjustments to fair value hedging to allow new strategies.

Significant Accounting Polici21

Significant Accounting Policies (Policy)	6 Months Ended
	Jun. 30, 2017
Policy Text Block [Abstract]
Consolidation, Policy	Principles of Consolidation - The accompanying condensed consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries, joint ventures, partnerships and consolidated variable interest entities (“VIE”) where NHI controls the operating activities of the VIE, if any. All intercompany transactions and balances have been eliminated in consolidation. Net income is reduced by the portion of net income attributable to noncontrolling interests. A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. We apply Financial Accounting Standards Board (“FASB”) guidance for our arrangements with VIEs which requires us to identify entities for which control is achieved through means other than voting rights and to determine which business enterprise is the primary beneficiary of the VIE. In accordance with FASB guidance, management must evaluate each of the Company’s contractual relationships which creates a variable interest in other entities. If the Company has a variable interest and the entity is a VIE, then management must determine whether or not the Company is the primary beneficiary of the VIE. If it is determined that the Company is the primary beneficiary, NHI consolidates the VIE. We identify the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. We perform this analysis on an ongoing basis. At June 30, 2017 , we held an interest in seven unconsolidated VIEs and, because we generally lack either directly or through related parties any material input in the activities that most significantly impact their economic performance, we have concluded that NHI is not the primary beneficiary. Accordingly, we account for our transactions with these entities and their subsidiaries at amortized cost. Our VIEs are summarized below by date of initial involvement. For further discussion of the nature of the relationships, including the sources of our exposure to these VIEs, see the notes to our condensed consolidated financial statements cross-referenced below. Date Name Source of Exposure Carrying Amount Maximum Exposure to Loss Sources of Exposure 2012 Bickford / Sycamore Notes and straight-line receivable $ 13,913,000 $ 35,717,000 Notes 2, 3, 6 2014 Senior Living Communities Notes and straight-line receivable $ 35,247,000 $ 48,610,000 Note 2,3 2014 Life Care Services affiliate Notes receivable $ 69,244,000 $ 78,280,000 Note 3 2015 East Lake Capital Mgmt. Straight-line receivable $ 2,467,000 $ 2,467,000 Note 2 2016 The Ensign Group developer N/A $ — $ — Note 2 2016 Senior Living Management Notes and straight-line receivable $ 25,784,000 $ 25,875,000 Note 3 2017 Ravn Senior Solutions Straight-line receivable $ 101,000 $ 101,000 Note 2 We are not obligated to provide support beyond our stated commitments to these tenants and borrowers whom we classify as VIEs, and accordingly our maximum exposure to loss as a result of these relationships is limited to the amount of our commitments, as shown above and discussed in the notes. When the above relationships involve leases, some additional exposure to economic loss is present and unquantifiable beyond that tabulated above, where we quantify potential accounting loss for those assets in which NHI has some basis. Generally, additional economic loss on a lease, if any, would be limited to that resulting from a short period of arrearage and non-payment of monthly rent before we are able to take effective remedial action, as well as costs incurred in transitioning the lease. The potential extent of such loss will be dependent upon individual facts and circumstances, cannot be quantified, and is therefore not included in the tabulation above. Typically, the only carrying amounts involving our leases are accumulated straight-line receivables. We apply FASB guidance related to investments in joint ventures based on the type of controlling rights held by the members’ interests in limited liability companies that may preclude consolidation by the majority equity owner in certain circumstances in which the majority equity owner would otherwise consolidate the joint venture. Equity-Method Investment - Through September 30, 2016, we reported our taxable REIT subsidiary (“TRS”) investment in an unconsolidated entity, over whose operating and financial policies we had the ability to exercise significant influence but not control, under the equity method of accounting. Under this accounting method, our pro rata share of the entity’s earnings or losses was included in our Condensed Consolidated Statements of Income. Additionally, we adjusted our investment carrying amount to reflect our share of changes in the equity-method investee’s capital resulting from its capital transactions. On September 30, 2016, we unwound the joint venture underlying the TRS and ceased participation in the operations which comprised all its activity. Noncontrolling Interest - We have excluded net income attributable to the noncontrolling interest from net income attributable to common shareholders in our Condensed Consolidated Statements of Income for the three and six months ended June 30, 2016 . As of December 31, 2016 and during the six months ended June 30, 2017 , we did not hold any noncontrolling interests.
Reclassification, Policy	Reclassifications - We have reclassified certain balances where necessary to conform the presentation of prior periods to the current period. We have combined our investment in marketable securities into other assets in our Condensed Consolidated Balance Sheets.
Use of Estimates, Policy	Use of Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Earnings Per Share, Policy	Earnings Per Share - The weighted average number of common shares outstanding during the reporting period is used to calculate basic earnings per common share. Diluted earnings per common share assumes the exercise of stock options using the treasury stock method, to the extent dilutive. Diluted earnings per share also incorporate the potential dilutive impact of our convertible senior notes. We apply the treasury stock method to our convertible debt instruments, the effect of which is that conversion will not be assumed for purposes of computing diluted earnings per share unless the average share price for the period exceeds the conversion price per share.
New Accounting Pronouncements, Policy	New Accounting Pronouncements - For a review of recent accounting pronouncements pertinent to our operations and management’s judgment as to the impact that the eventual adoption of these pronouncements will have on our financial position and results of operation, see Note 12.

Significant Accounting Polici22

Significant Accounting Policies Significant Accounting Policies (Schedule of Variable Interest Entities) (Tables)	6 Months Ended
	Jun. 30, 2017
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Schedule of Variable Interest Entities [Table Text Block]	Date Name Source of Exposure Carrying Amount Maximum Exposure to Loss Sources of Exposure 2012 Bickford / Sycamore Notes and straight-line receivable $ 13,913,000 $ 35,717,000 Notes 2, 3, 6 2014 Senior Living Communities Notes and straight-line receivable $ 35,247,000 $ 48,610,000 Note 2,3 2014 Life Care Services affiliate Notes receivable $ 69,244,000 $ 78,280,000 Note 3 2015 East Lake Capital Mgmt. Straight-line receivable $ 2,467,000 $ 2,467,000 Note 2 2016 The Ensign Group developer N/A $ — $ — Note 2 2016 Senior Living Management Notes and straight-line receivable $ 25,784,000 $ 25,875,000 Note 3 2017 Ravn Senior Solutions Straight-line receivable $ 101,000 $ 101,000 Note 2

Real Estate (Tables)

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
New Real Estate Investments [Table Text Block]	During the six months ended June 30, 2017 , we made investments related to real estate as described below (dollars in thousands) : Operator Date Properties Asset Class Amount Ravn Senior Solutions February 2017 2 SHO $ 16,100 Prestige Care March 2017 1 SHO 26,200 The LaSalle Group March 2017 5 SHO 61,865 The Ensign Group March 2017 1 SNF 15,096 Bickford Senior Living June 2017 1 SHO 10,400 $ 129,661
Schedule of Bickford Leases [Table Text Block]	: Lease Expiration Sept / Oct 2019 June 2023 May 2031 Total Number of Properties 10 13 20 43 2017 Contractual Rent $ 8,994 $ 10,809 $ 16,620 $ 36,423 Straight Line Rent Adjustment (347 ) 226 4,378 4,257 Total Revenues $ 8,647 $ 11,035 $ 20,998 $ 40,680
Summary of NHC Percentage Rent [Table Text Block]	The following table summarizes the percentage rent income from NHC ( in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Current year $ 782 $ 733 $ 1,563 $ 1,466 Prior year final certification 1 — — 194 547 Total percentage rent income $ 782 $ 733 $ 1,757 $ 2,013 1 For purposes of the percentage rent calculation described in the master lease agreement, NHC’s annual revenue by facility for a given year is certified to NHI by March 31st of the following year.

Mortgage And Other Notes Rece24

Mortgage And Other Notes Receivable Mortgage and Other Notes Receivable (Schedule of Bickford Construction Loans) (Tables)	6 Months Ended
	Jun. 30, 2017
Bickford Senior Living [Member]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	At June 30, 2017 , our construction loans to Bickford are summarized as follows: Rate Maturity Commitment Drawn Location July 2016 9% 5 years $ 14,000,000 $ (6,120,000 ) Illinois January 2017 9% 5 years 14,000,000 (2,006,000 ) Michigan $ 28,000,000 $ (8,126,000 )

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Other Assets [Abstract]
Schedule of Other Assets [Table Text Block]	Other assets consist of the following ( in thousands ): June 30, December 31, Accounts receivable and other assets $ 3,753 $ 9,017 Regulatory deposits 8,208 8,208 Reserves for replacement, insurance and tax escrows 4,419 4,046 Marketable securities — 11,745 $ 16,380 $ 33,016

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Instruments [Abstract]
Schedule of Debt	Debt consists of the following ( in thousands ): June 30, December 31, Convertible senior notes - unsecured (net of discount of $4,098 and $4,717) $ 193,477 $ 195,283 Revolving credit facility - unsecured 188,000 158,000 Bank term loans - unsecured 250,000 250,000 Private placement term loans - unsecured 400,000 400,000 HUD mortgage loans (net of discount of $1,444 and $1,487) 44,003 44,354 Fannie Mae term loans - secured, non-recourse 78,084 78,084 Unamortized loan costs (8,559 ) (9,740 ) $ 1,145,005 $ 1,115,981
Schedule of Maturities of Long-term Debt	Aggregate principal maturities of debt as of June 30, 2017 for each of the next five years and thereafter, after giving effect to the modifications to our credit facility discussed below, are as follows ( in thousands ): Twelve months ended June 30, 2018 $ 808 2019 835 2020 438,863 2021 198,468 2022 923 Thereafter 519,209 1,159,106 Less: discount (5,542 ) Less: unamortized loan costs (8,559 ) $ 1,145,005
Schedule of Unsecured Term Loans	Our unsecured private placement term loans are summarized below: Amount Inception Maturity Fixed Rate $ 125,000,000 January 2015 January 2023 3.99% 50,000,000 November 2015 November 2023 3.99% 75,000,000 September 2016 September 2024 3.93% 50,000,000 November 2015 November 2025 4.33% 100,000,000 January 2015 January 2027 4.51% $ 400,000,000
Schedule of Interest Expense	The following table summarizes interest expense ( in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Interest expense at contractual rates $ 10,957 $ 9,991 $ 21,779 $ 19,505 Capitalized interest (94 ) (196 ) (160 ) (316 ) Loss on conversion retirement 96 — 96 — Amortization of debt issuance costs and debt discount 869 871 1,774 1,739 Total interest expense $ 11,828 $ 10,666 $ 23,489 $ 20,928
Schedule of Interest Rate Derivatives	June 30, 2017 ( dollars in thousands ): Date Entered Maturity Date Fixed Rate Rate Index Notional Amount Fair Value May 2012 April 2019 3.29% 1-month LIBOR $ 40,000 $ (33 ) June 2013 June 2020 3.86% 1-month LIBOR $ 80,000 $ (1,083 ) March 2014 June 2020 3.91% 1-month LIBOR $ 130,000 $ (1,941 )

Commitments And Contingencies C

Commitments And Contingencies Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loan Commitments [Table Text Block]	Asset Class Type Total Funded Remaining Loan Commitments: Life Care Services Note A SHO Construction $ 60,000,000 $ (51,871,000 ) $ 8,129,000 Bickford Senior Living SHO Construction 28,000,000 (8,126,000 ) 19,874,000 Senior Living Communities SHO Revolving Credit 29,000,000 (15,742,000 ) 13,258,000 $ 117,000,000 $ (75,739,000 ) $ 41,261,000
Schedule of Lease Commitments [Table Text Block]	Asset Class Type Total Funded Remaining Development Commitments: Legend/The Ensign Group SNF Purchase $ 56,000,000 $ (14,000,000 ) $ 42,000,000 Bickford Senior Living SHO Construction 56,500,000 (53,857,000 ) 2,643,000 Chancellor Health Care SHO Construction 650,000 (62,000 ) 588,000 East Lake/Watermark Retirement SHO Renovation 10,000,000 (5,900,000 ) 4,100,000 Santé Partners SHO Renovation 3,500,000 (2,621,000 ) 879,000 Bickford Senior Living SHO Renovation 2,400,000 — 2,400,000 East Lake Capital Management SHO Renovation 400,000 — 400,000 Woodland Village SHO Renovation 350,000 (248,000 ) 102,000 $ 129,800,000 $ (76,688,000 ) $ 53,112,000
Schedule of Loss Contingencies [Table Text Block]	Asset Class Type Total Funded Remaining Contingencies: Bickford / Sycamore SHO Lease Inducement $ 10,000,000 $ (2,000,000 ) $ 8,000,000 East Lake Capital Management SHO Lease Inducement 8,000,000 — 8,000,000 Sycamore Street (Bickford affiliate) SHO Letter-of-credit 1,930,000 — 1,930,000 Ravn Senior Solutions SHO Earnout 1,500,000 — 1,500,000 Prestige Care SHO Earnout 1,000,000 — 1,000,000 The LaSalle Group SHO Earnout 5,000,000 — 5,000,000 $ 27,430,000 $ (2,000,000 ) $ 25,430,000

Investment And Other Gains (Tab

Investment And Other Gains (Tables)	6 Months Ended
	Jun. 30, 2017
Investment And Other Gains [Abstract]
Schedule of Investment And Other Gains	The following table summarizes our investment and other gains (in thousands) : Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Gains on sales of real estate $ — $ 2,928 $ 50 $ 4,582 Gains on sales of marketable securities — 23,487 10,038 23,498 $ — $ 26,415 $ 10,088 $ 28,080

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Deferred Compensation Arrangements [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The fair value of each grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: 2017 2016 Dividend yield 5.3% 6.2% Expected volatility 19.7% 19.1% Expected lives 3.3 years 2.9 years Risk-free interest rate 1.49% 0.91%
Schedule of Stock Option Activity	The following table summarizes our outstanding stock options: Six Months Ended June 30, 2017 2016 Options outstanding January 1, 541,679 741,676 Options granted under 2012 Plan 485,000 470,000 Options exercised under 2012 Plan (70,830 ) (451,668 ) Options forfeited under 2012 Plan (6,668 ) — Options exercised under 2005 Plan (15,000 ) — Options outstanding, June 30, 934,181 760,008 Exercisable at June 30, 540,830 406,660

Earnings and Dividends Per Sh30

Earnings and Dividends Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table summarizes the average number of common shares and the net income used in the calculation of basic and diluted earnings per common share (in thousands, except share and per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Net income attributable to common stockholders $ 38,245 $ 44,595 $ 82,475 $ 77,320 BASIC: Weighted average common shares outstanding 40,982,244 38,520,221 40,468,024 38,460,934 DILUTED: Weighted average common shares outstanding 40,982,244 38,520,221 40,468,024 38,460,934 Stock options 66,137 41,163 63,901 27,154 Convertible subordinated debentures 196,792 — 147,420 — Average dilutive common shares outstanding 41,245,173 38,561,384 40,679,345 38,488,088 Net income per common share - basic $ .93 $ 1.16 $ 2.04 $ 2.01 Net income per common share - diluted $ .93 $ 1.16 $ 2.03 $ 2.01 Incremental shares excluded since anti-dilutive: Net share effect of stock options with an exercise price in excess of the average market price for our common shares 11,015 14,940 9,736 41,773 Regular dividends declared per common share $ .95 $ .90 $ 1.90 $ 1.80

Fair Value Of Financial Instr31

Fair Value Of Financial Instruments Fair Value Of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Of Financial Instruments [Abstract]
Schedule of Assets and Liabilities Measured on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are as follows (in thousands) : Fair Value Measurement Balance Sheet Classification June 30, December 31, Level 1 Common stock of other healthcare REITs Other assets $ — $ 11,745 Level 2 Interest rate swap liability Accounts payable and accrued expenses $ 3,057 $ 4,279
Fair Value Measurements, Nonrecurring [Table Text Block]	Carrying values and fair values of financial instruments that are not carried at fair value at June 30, 2017 and December 31, 2016 in the Condensed Consolidated Balance Sheets are as follows ( in thousands ): Carrying Amount Fair Value Measurement 2017 2016 2017 2016 Level 2 Variable rate debt $ 435,389 $ 404,828 $ 438,000 $ 408,000 Fixed rate debt $ 709,616 $ 711,153 $ 710,921 $ 706,332 Level 3 Mortgage and other notes receivable $ 141,107 $ 133,493 $ 144,448 $ 133,229

Significant Accounting Polici32

Significant Accounting Policies Significant Accounting Policies (Details)	Jun. 30, 2017
Variable Interest Entity Number Of Entities Not Primary Beneficiary	7
Debt Instrument, Name, Convertible Senior Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.25%

Significant Accounting Polici33

Significant Accounting Policies Significant Accounting Policies (Schedule of Variable Interest Entities) (Details) $ in Thousands	Jun. 30, 2017USD ($)
Ensign Group [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets	$ 0
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	0
Straight-Line Rent Receivable [Member] | Bickford / Sycamore [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets	13,913
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	35,717
Straight-Line Rent Receivable [Member] | Senior Living Communities [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets	35,247
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	48,610
Straight-Line Rent Receivable [Member] | East Lake Capital [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets	2,467
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	2,467
Straight-Line Rent Receivable [Member] | Senior Living Management [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets	25,784
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	25,875
Straight-Line Rent Receivable [Member] | Ravn Senior Solutions [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets	101
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	101
Notes Receivable [Member] | Life Care Services [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets	69,244
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	$ 78,280

Real Estate Real Estate (New Re

Real Estate Real Estate (New Real Estate Investments) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)properties
Real Estate Investments During The Period | $	$ 129,661
The Lasalle Group [Member]
Real Estate Properties, Number Acquired | properties	5
Real Estate Investments During The Period | $	$ 61,865
Prestige Senior Living [Member]
Real Estate Properties, Number Acquired | properties	1
Real Estate Investments During The Period | $	$ 26,200
Ravn Senior Solutions [Member]
Real Estate Properties, Number Acquired | properties	2
Real Estate Investments During The Period | $	$ 16,100
Ensign Group [Member]
Real Estate Properties, Number Acquired | properties	1
Real Estate Investments During The Period | $	$ 15,096
Bickford Senior Living [Member]
Real Estate Properties, Number Acquired | properties	1

Real Estate Real Estate (Schedu

Real Estate Real Estate (Schedule of Bickford Leases) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)properties	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)properties	Jun. 30, 2016USD ($)
Number of Properties | properties	207		207
Straight Line Rent Adjustment			$ 12,005	$ 10,583
Bickford Senior Living [Member]
Number of Properties | properties	43		43
2017 Contractual Rent			$ 36,423
Straight Line Rent Adjustment			4,257
Straight Line Rent Adjustment	$ 907	$ 63	1,816	$ (2)
Total Revenues			$ 40,680
Bickford Senior Living [Member] | Sept / Oct 2019 [Member]
Number of Properties | properties	10		10
2017 Contractual Rent			$ 8,994
Straight Line Rent Adjustment			(347)
Total Revenues			$ 8,647
Bickford Senior Living [Member] | June 2023 [Member]
Number of Properties | properties	13		13
2017 Contractual Rent			$ 10,809
Straight Line Rent Adjustment			226
Total Revenues			$ 11,035
Bickford Senior Living [Member] | May 2031 [Member]
Number of Properties | properties	20		20
2017 Contractual Rent			$ 16,620
Straight Line Rent Adjustment			4,378
Total Revenues			$ 20,998

Real Estate (Summary of NHC Per

Real Estate (Summary of NHC Percentage Rent) (Details) - National Healthcare Corporation [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Total percentage rent	$ 782	$ 733	$ 1,757	$ 2,013
Current year [Member]
Total percentage rent	782	733	1,563	1,466
Prior year final certification [Member]
Total percentage rent	$ 0	$ 0	$ 194	$ 547

Real Estate (Narrative) (Detail

Real Estate (Narrative) (Details)	3 Months Ended				6 Months Ended
	Jun. 30, 2017USD ($)propertiesbeds_or_unitsrenewalOptionsMaster_Leasesshares	Mar. 31, 2017USD ($)	Jun. 30, 2016USD ($)properties	Mar. 31, 2016USD ($)	Jun. 30, 2017USD ($)propertiesbeds_or_unitsrenewalOptionsMaster_Leasesshares	Jun. 30, 2016USD ($)properties
Number of Real Estate Properties | properties	207				207
Number of States in which Entity Operates	32				32
Nonportfolio Assets, Original Cost	$ 1,278,000				$ 1,278,000
Real Estate Investment Property, Portfolio Assets	$ 2,611,526,000				$ 2,611,526,000
Number of Lessees	29				29
Payments to Acquire Real Estate					$ 128,411,000	$ 261,610,000
Lessee Payment To Acquire Purchase Option		$ 1,250,000		$ 0
Remaining Unfunded Development Commitment	$ 53,112,000				53,112,000
Real Estate Investments During The Period					129,661,000
Operating Leases, Income Statement, Lease Revenue	65,735,000		$ 57,028,000		128,873,000	112,102,000
Straight Line Rent					12,005,000	10,583,000
Gain on sale of real estate	$ 0		2,928,000		$ 50,000	4,582,000
Bickford Development Properties [Member]
Number of Units in Real Estate Property | beds_or_units	60				60
Ravn Senior Solutions [Member]
Real Estate Properties, Number Acquired | properties					2
Number of Units in Real Estate Property | beds_or_units	86				86
Payments to Acquire Real Estate					$ 16,100,000
Asset Purchase Transaction Costs					$ 100,000
Lessor, Operating Lease, Term of Contract					15 years
Initial lease rate	7.35%				7.35%
Real Estate Investments During The Period					$ 16,100,000
Capital Improvements Commitment	$ 207,000				207,000
Lease Incentive Commitment Assessed As Not Probable					1,500,000
Payments to acquire real estate, seller earnout, contingent, not probable					$ 1,000,000
Holiday Acquisition Holdings [Member]
Number of Real Estate Properties | properties	25				25
Lessor, Operating Lease, Term of Contract	17 years
Lease Escalator Rate, After Lease Year 3	3.50%				3.50%
Operating Leases, Income Statement, Lease Revenue	$ 10,954,000		$ 10,954,000		$ 21,908,000	$ 21,908,000
Percentage of Continuing Revenue	16.00%		18.00%		16.00%	18.00%
Straight Line Rent	$ 1,849,000		$ 2,241,000		$ 3,698,000	$ 4,482,000
National Healthcare Corporation [Member]
Number of Real Estate Properties | properties	42				42
Number of Master Leases | Master_Leases	2				2
Operating Leases, Income Statement, Lease Revenue	$ 9,318,000		$ 9,270,000		$ 18,831,000	$ 19,087,000
Percentage of Continuing Revenue	13.00%		15.00%		14.00%	16.00%
Lessor Equity Shares Owned, Significant Lessee | shares	1,630,462				1,630,462
Percentage rent	$ 782,000		$ 733,000		$ 1,757,000	$ 2,013,000
National Healthcare Corporation [Member] | NHC - 1991 Lease [Member]
Number of Real Estate Properties | properties	35				35
Number Of Additional Lease Renewal Options | renewalOptions	2				2
Lease Renewal Period In Years					5 years
Percentage Rent Rate					0.04
Minimum Annual Lease Income					$ 30,750,000
National Healthcare Corporation [Member] | NHC - 2013 Lease [Member]
Number Of Real Estate Properties Acquired | properties					7
Percentage Rent Rate					0.04
Minimum Annual Lease Income					$ 3,450,000
Purchase Option Amount	$ 49,000,000				$ 49,000,000
Bickford Senior Living [Member]
Real Estate Properties, Number Acquired | properties					1
Number of Real Estate Properties | properties	43				43
Operating Leases, Income Statement, Lease Revenue	$ 9,899,000		$ 7,165,000		$ 19,273,000	$ 13,471,000
Percentage of Continuing Revenue	14.00%		12.00%		14.00%	11.00%
Number of Real Estate Properties To Be Constructed | properties	1				1
Straight Line Rent	$ 907,000		$ 63,000		$ 1,816,000	$ (2,000)
Joint Venture Contributed Properties Ownership Interest Retained	85.00%				85.00%
Joint Venture Contributed Properties Ownership Interest Surrendered	15.00%				15.00%
Minimum Annual Lease Income					$ 36,423,000
Bickford Senior Living [Member] | Bickford Development Properties [Member]
Initial lease rate	9.00%				9.00%
Free Rent Lease Period, Number of Months					6 months
Bickford Senior Living [Member] | Bickford RIDEA Properties [Member]
Number of Real Estate Properties | properties	35				35
Bickford Senior Living [Member] | Real Estate Acquisition [Member]
Number of Units in Real Estate Property | beds_or_units	60				60
Asset Purchase Transaction Costs					$ 200,000
Lessor, Operating Lease, Term of Contract					14 years
Initial lease rate	7.25%				7.25%
Real Estate Investments During The Period					$ 10,400,000
Capital Improvements Commitment	$ 475,000				$ 475,000
Senior Living Communities [Member]
Number of Real Estate Properties | properties	9				9
Number of Units in Real Estate Property	1,970				1,970
Lessor, Operating Lease, Term of Contract					15 years
Lease Escalator Rate Lease Year 2 to Lease Year 4	4.00%				4.00%
Lease Escalator Rate after Lease Year 4	3.00%				3.00%
Operating Leases, Income Statement, Lease Revenue	$ 11,431,000		$ 9,855,000		$ 22,862,000	$ 19,711,000
Percentage of Continuing Revenue	16.00%		16.00%		17.00%	16.00%
Straight Line Rent	$ 1,746,000		$ 1,795,000		$ 3,492,000	$ 3,591,000
Number Of Additional Lease Renewal Options	2				2
Lease Renewal Period In Years					5 years
Prestige Senior Living [Member]
Real Estate Properties, Number Acquired | properties					1
Number of Units in Real Estate Property | beds_or_units	102				102
Payments to Acquire Real Estate					$ 26,200,000
Asset Purchase Transaction Costs					$ 112,000
Lessor, Operating Lease, Term of Contract					12 years
Initial lease rate	7.00%				7.00%
Real Estate Investments During The Period					$ 26,200,000
Lease Escalator Rate Lease Year 2 to Lease Year 4	3.50%				3.50%
Lease Escalator Rate after Lease Year 4	2.50%				2.50%
Lease Incentive Commitment Assessed As Not Probable					$ 1,000,000
Payments to acquire real estate, seller earnout, contingent, not probable					$ 1,000,000
The Lasalle Group [Member]
Real Estate Properties, Number Acquired | properties					5
Number of Units in Real Estate Property | beds_or_units	223				223
Payments to Acquire Real Estate					$ 61,800,000
Asset Purchase Transaction Costs					$ 65,000
Lessor, Operating Lease, Term of Contract					15 years
Initial lease rate	7.00%				7.00%
Real Estate Investments During The Period					$ 61,865,000
Lease Escalator Rate, From Lease Year 1 to Lease Year 3	3.50%				3.50%
Lease Escalator Rate, After Lease Year 3	2.50%				2.50%
Lease Incentive Commitment Assessed As Not Probable					$ 5,000,000
Payments to acquire real estate, seller earnout, contingent, not probable					$ 2,500,000
Ensign Group [Member]
Real Estate Properties, Number Acquired | properties					1
Number of Units in Real Estate Property | beds_or_units	126				126
Payments to Acquire Real Estate					$ 13,846,000
Lessee Payment To Acquire Purchase Option					$ 1,250,000
Lessor, Operating Lease, Term of Contract					14 years
Initial lease rate	8.35%				8.35%
Real Estate Properties, Commitment To Purchase | properties	3				3
Real Estate Investments During The Period					$ 15,096,000
Senior Housing Community [Member]
Number of Real Estate Properties | properties	134				134
Skilled Nursing Facility [Member]
Number of Real Estate Properties | properties	68		2		68	2
Gain on sale of real estate				2,805,000
Asset Held For Sale, Agreed Selling Price			$ 24,600,000			$ 24,600,000
Skilled Nursing Facility [Member] | Lease Maturity Extension [Member]
Number of Real Estate Properties | properties	6				6
Lessor, Operating Lease, Payments to be Received	$ 9,800,000				$ 9,800,000
Lessor, Operating Lease, Term of Contract					12 years
Skilled Nursing Facility [Member] | National Healthcare Corporation [Member]
Number of Real Estate Properties | properties	39				39
Skilled Nursing Facility [Member] | National Healthcare Corporation [Member] | Subleased Facilities [Member]
Number of Real Estate Properties | properties	4				4
Skilled Nursing Facility [Member] | Health Services Management [Member]
Lessor, Operating Lease, Payments to be Received		$ 7,241,000
Hospital [Member]
Number of Real Estate Properties | properties	3				3
Medical Office Building [Member]
Number of Real Estate Properties | properties	2				2
Independent Living Facility [Member] | National Healthcare Corporation [Member]
Number of Real Estate Properties | properties	3				3
Vacant Land [Member]
Gain on sale of real estate			123,000
Grangeville, ID [Member]
Operating Leases, Income Statement, Lease Revenue			$ 73,000
Gain on sale of real estate				1,654,000
Real Estate Held-for-sale				1,346,000
Asset Held For Sale, Agreed Selling Price				$ 3,000,000

Mortgage And Other Notes Rece38

Mortgage And Other Notes Receivable (Details)	1 Months Ended	6 Months Ended
	Jul. 30, 2017	Jun. 30, 2017USD ($)propertiesbeds_or_units	Jul. 31, 2017	Dec. 31, 2016USD ($)
Mortgage and other notes receivable, net		$ 141,107,000		$ 133,493,000
Number of health care properties related to mortgage notes receivables | properties		8
Allowance for Doubtful Accounts Receivable		$ 0		$ 0
Loans and Leases Receivable, Commitments, Fixed Rates		$ 117,000,000
Number of Real Estate Properties | properties		207
Secured By Real Estate [Member]
Mortgage and other notes receivable, net		$ 95,357,000
Not Secured By Real Estate [Member]
Mortgage and other notes receivable, net		45,750,000
Life Care Services [Member]
Mortgage and other notes receivable, net		51,871,000
Loans and Leases Receivable, Commitments, Fixed Rates		60,000,000
Notes Receivable, Total Borrowings, Master Credit Agreement		$ 154,500,000
Notes Receivable, Number Of Loans, Master Credit Agreement		2
Purchase Option, Amount, Minimum		$ 115,000,000
Purchase Option, Period, Months		120 days
Purchase Option, Open Period, Begin, Note Year		5 years
Senior Living Communities [Member]
Mortgage and other notes receivable, net		$ 15,742,000
Loans Receivable, Description of Variable Rate Basis, Reference Rate Maturity		10 years
Loans Receivable, Description of Variable Rate Basis		0.0231
Number of Units in Real Estate Property		1,970
Loans and Lease Receivable, Maximum Revolving Amount		$ 15,000,000
Lessor, Operating Lease, Term of Contract		15 years
Revolving Note Receivable, Maximum Amount Available for Working Capital Purposes		$ 5,000,000
Revolving Note Receivable, Amount Outstanding		$ 1,742,000
Loans Receivable, Basis Spread on Variable Rate		6.00%
Number of Term Loans		2
Loans and Leases Receivable, Commitments, Fixed Rates		$ 29,000,000
Number of Real Estate Properties | properties		9
Bickford Note Investment [Member]
Initial lease rate		9.55%
Mortgage and other notes receivable, net		$ 8,126,000
Loans and Leases Receivable, Commitments, Fixed Rates		28,000,000
Senior Living Management [Member]
Loans and Leases Receivable, Commitments, Fixed Rates		$ 24,500,000
Notes Receivable, Number Of Loans, Master Credit Agreement		2
Loan Term		5 years
Notes Receivable, Interest Rate, Master Credit Agreement		8.25%
Number of Real Estate Properties | properties		5
Notes Receivable, Maturity, Optional Extension, Years		1 year
Note Receivable, Maturity, Second Optional Extension, Years		2 years
Note A [Member] | Life Care Services [Member]
Mortgage and other notes receivable, net		$ 51,871,000
Notes Receivable, Total Borrowings, Master Credit Agreement		$ 60,000,000
Note Receivable, First Note Year For Rate Escalator		3 years
Loan Term		10 years
Note Receivable, Prepayment, Disallowance Period		3 years
Note Receivable, Prepayment Penalty, Rate		5.00%
Note Receivable, Prepayment Penalty, Rate Decrease		1.00%
Notes Receivable, Interest Rate, Master Credit Agreement		6.75%
Loans And Leases Receivable, Commitment, Fixed Rates, Escalator, Basis Points		10
Note A [Member] | Senior Living Communities [Member]
Loans and Leases Receivable, Commitments, Fixed Rates		$ 12,000,000
Note Receivable Interest Rate		10.00%
Note B [Member] | Life Care Services [Member]
Notes Receivable, Total Borrowings, Master Credit Agreement		$ 94,500,000
Loan Term		5 years
Mortgage Loans on Real Estate, Collections of Principal		$ (76,220,000)
Notes Receivable, Interest Rate, Master Credit Agreement		8.00%
Note B [Member] | Senior Living Communities [Member]
Loans and Leases Receivable, Commitments, Fixed Rates		$ 2,000,000
Subsequent Event [Member]
Initial lease rate			7.00%
Lessor, Operating Lease, Term of Contract	10 years

Mortgage And Other Notes Rece39

Mortgage And Other Notes Receivable Mortgage and Other Notes Receivable (Schedule of Bickford Construction Loans) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Loans and Leases Receivable, Commitments, Fixed Rates	$ 117,000,000
Loans and Leases Receivable, Net Amount	(141,107,000)	$ (133,493,000)
Bickford Note Investment [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	28,000,000
Loans and Leases Receivable, Net Amount	$ (8,126,000)
July 2016 [Member] | Bickford Note Investment [Member]
Note Receivable Interest Rate	9.00%
Loan Term	5 years
Loans and Leases Receivable, Commitments, Fixed Rates	$ 14,000,000
Loans and Leases Receivable, Net Amount	$ (6,120,000)
January 2017 [Member] | Bickford Note Investment [Member]
Note Receivable Interest Rate	9.00%
Loan Term	5 years
Loans and Leases Receivable, Commitments, Fixed Rates	$ 14,000,000
Loans and Leases Receivable, Net Amount	$ (2,006,000)

Other Assets (Schedule of Other

Other Assets (Schedule of Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Equity Method Investments And Other Assets [Abstract]
Accounts receivable and other assets	$ 3,753	$ 9,017
Regulatory deposits	8,208	8,208
Reserves for replacement, insurance and tax escrows	4,419	4,046
Marketable securities	0	11,745
Other Assets	$ 16,380	$ 33,016

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016	Mar. 31, 2014
Debt Instrument [Line Items]
Revolving credit facility - unsecured	$ 188,000,000	$ 158,000,000
Convertible Debt	193,477,000	195,283,000	$ 189,908,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	8,559,000
Unamortized Debt Issuance Expense		(9,740,000)
Debt, Long-term and Short-term, Combined Amount	1,145,005,000	1,115,981,000
Bank Term Loans [Member]
Debt Instrument [Line Items]
Bank term loans - unsecured	250,000,000	250,000,000
Debt Instrument, Name, HUD Mortgages [Member]
Debt Instrument [Line Items]
Secured Debt	44,003,000	44,354,000
Private Placement Term Loans [Member]
Debt Instrument [Line Items]
Bank term loans - unsecured	400,000,000	400,000,000
Debt Instrument, Name, Fannie Mae Term Loans [Member]
Debt Instrument [Line Items]
Secured Debt	$ 78,084,000	$ 78,084,000

Debt Debt (Schedule of Debt) (C

Debt Debt (Schedule of Debt) (Captions) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	$ 5,542
Debt Instrument, Name, Q3 2014 HUD Mortgages [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount		$ 1,444	$ 1,487
Debt Instrument, Name, Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount		$ 4,098	$ 4,717

Debt Debt (Schedule of Maturiti

Debt Debt (Schedule of Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Schedule of Maturities of Long-term Debt [Abstract]
Long-term Debt, Maturities, Repayments of Principal in Next Rolling Twelve Months	$ 808
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two	835
2,020	438,863
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four	198,468
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five	923
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five	519,209
Long-term Debt, Gross	1,159,106
Debt Instrument, Unamortized Discount	(5,542)
Less: unamortized loan costs	(8,559)
Debt, Long-term and Short-term, Combined Amount	$ 1,145,005	$ 1,115,981

Debt Debt (Schedule of Unsecure

Debt Debt (Schedule of Unsecured Term Loans) (Details) - Private Placement [Member] - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Unsecured Debt	$ 400,000,000	$ 400,000,000
January 2023 [Member]
Unsecured Debt	$ 125,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.99%
November 2023 [Member]
Unsecured Debt	$ 50,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.99%
September 2024 [Member]
Unsecured Debt	$ 75,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.93%
November 2025 [Member]
Unsecured Debt	$ 50,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.33%
January 2027 [Member]
Unsecured Debt	$ 100,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.51%

Debt (Schedule of Interest Expe

Debt (Schedule of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2017	Jun. 30, 2016
Schedule of Interest Expense [Abstract]
Interest expense	$ 10,957	$ 9,991			$ 21,779	$ 19,505
Interest Costs Capitalized Adjustment	(94)	(196)	$ (160)	$ (316)
Gain (Loss) on Extinguishment of Debt	96	0			96	0
Amortization of debt issuance costs, debt discount and premium	869	871			1,774	1,739
Total interest expense	$ 11,828	$ 10,666			$ 23,489	$ 20,928

Debt (Schedule of Interest Rate

Debt (Schedule of Interest Rate Derivatives) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Interest Rate Swap, Date Entered, May 2012 [Member]
Derivative [Line Items]
Derivative, Inception Date	May 31, 2012
Derivative, Maturity Date	Apr. 30, 2019
Derivative, Fixed Interest Rate	3.29%
Debt Instrument, Description of Variable Rate Basis	1-month LIBOR
Derivative, Notional Amount	$ 40,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ (33)
Interest Rate Swap, Date Entered, June 2013 [Member]
Derivative [Line Items]
Derivative, Inception Date	Jun. 30, 2013
Derivative, Maturity Date	Jun. 30, 2020
Derivative, Fixed Interest Rate	3.86%
Debt Instrument, Description of Variable Rate Basis	1-month LIBOR
Derivative, Notional Amount	$ 80,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ (1,083)
Interest Rate Swap, Date Entered, March 2014 [Member]
Derivative [Line Items]
Derivative, Inception Date	Mar. 31, 2014
Derivative, Maturity Date	Jun. 30, 2020
Derivative, Fixed Interest Rate	3.91%
Debt Instrument, Description of Variable Rate Basis	1-month LIBOR
Derivative, Notional Amount	$ 130,000
Interest Rate Cash Flow Hedge Liability at Fair Value	$ (1,941)

Debt (Narrative) (Details)

Debt (Narrative) (Details)	3 Months Ended				6 Months Ended
	Jun. 30, 2017USD ($)propertiesshares	Mar. 31, 2017USD ($)propertiessharesnumber_of_loans$ / shares	Jun. 30, 2016USD ($)shares	Mar. 31, 2016USD ($)	Jun. 30, 2017USD ($)propertiesshares	Jun. 30, 2016USD ($)shares	Dec. 31, 2016USD ($)	Mar. 31, 2014USD ($)
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed		$ 598,000		$ 1,475,000
Proceeds from convertible senior notes		$ 197,575,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 800,000,000				$ 800,000,000
Debt Instrument, Convertible, Conversion Ratio		14.17
Convertible Debt Instrument, Conversion Ratio, Principal Amount, Basis		$ 1,000
Debt Instrument, Convertible, Conversion Price | $ / shares		$ 70.58
Debt Instrument, Convertible, If-converted Value in Excess of Principal		$ 24,118,000
Debt Instrument, Convertible, Number of Equity Instruments | shares		2,799,150
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities | shares	196,792	147,420	0		147,420	0
Convertible Debt	$ 193,477,000				$ 193,477,000		$ 195,283,000	$ 189,908,000
Debt Instrument, Convertible, Carrying Amount of Equity Component								$ 7,667,000
Debt Instrument, Interest Rate, Effective Percentage		3.90%
Unamortized Debt Issuance Expense							$ 9,740,000
Gain (Loss) on Extinguishment of Debt	(96,000)		$ 0		$ (96,000)	$ 0
Debt Instrument, Variable Rate Basis, Minimum					0.00%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		2000.00%
Credit Facility, Current Revolving Borrowing Capacity	$ 550,000,000				$ 550,000,000
Number of Real Estate Properties | properties	207				207
Bank Term Loans [Member]
Term Loans, Outstanding Balance	$ 250,000,000				$ 250,000,000
Debt Instrument, Basis Spread on Variable Rate					13000.00%
Debt Instrument, Name, Convertible Senior Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.25%				3.25%
Payments of Debt Issuance Costs		$ 6,063,000
Unamortized Debt Issuance Expense		2,769,000
Payment for Debt Extinguishment or Debt Prepayment Cost	$ 2,339,000
Gain (Loss) on Extinguishment of Debt	96,000
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature	$ 337,000
Debt Instrument, Name, Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate					11500.00%
Unused balance of the unsecured revolving credit facility		$ 362,000,000
Debt Instrument, Name, Fannie Mae Term Loans [Member]
Debt Instrument, Term		10 years
Mortgage Loans on Real Estate, Face Amount of Mortgages		$ 78,084,000
Debt Instrument, Interest Rate, Stated Percentage		3.79%
Number of Real Estate Properties		13
Net Book Value of Real Estate Pledged Toward Mortgage		$ 109,413,000
Debt Instrument, Name, HUD Mortgages [Member]
Number of Real Estate Properties | properties		10
Net Book Value of Real Estate Pledged Toward Mortgage		$ 53,446,000
Debt Instrument, Name, HUD Mortgages [Member] | Minimum [Member]
Mortgage Loans on Real Estate, Interest Rate		4.30%
Debt Instrument, Name, HUD Mortgages [Member] | Maximum [Member]
Mortgage Loans on Real Estate, Interest Rate		4.40%
Debt Instrument, HUD Mortgages, 2049 Maturity [Member]
Mortgage Loans on Real Estate, Number of Loans | number_of_loans		9
Debt Instrument, HUD Mortgages, 2047 Maturity [Member]
Mortgage Loans on Real Estate, Number of Loans | number_of_loans		1
Allocated to Debt [Member] | Debt Instrument, Name, Convertible Senior Notes [Member]
Payments of Debt Issuance Costs		$ 5,788,000
Allocated to Equity [Member] | Debt Instrument, Name, Convertible Senior Notes [Member]
Payments of Debt Issuance Costs		275,000
Bickford Senior Living [Member]
Number of Real Estate Properties | properties	43				43
Middletown, OH [Member] | Bickford Senior Living [Member]
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed		$ 7,569,000
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Rate		2.90%
Noncash or Part Noncash Acquisition, Debt Assumed		$ 9,013,000

Commitments And Contingencies (

Commitments And Contingencies (Details)	6 Months Ended
	Jun. 30, 2017USD ($)propertiesbeds_or_units
Number of Real Estate Properties	207
Ensign Group [Member]
Real Estate Properties, Commitment To Purchase	3
Construction of transitional rehabilitation center, number of beds | beds_or_units	126
Capital Addition Purchase Commitments [Member] | Ensign Group [Member]
Real Estate Properties, Commitment To Purchase, Amount | $	$ 42,000,000
Maximum Contingent Amount [Member] | East Lake Capital [Member]
Lease Incentive Commitment Assessed As Not Probable | $	$ 8,000,000
East Lake Mgmt, Acquisition [Member]
Number of Real Estate Properties	3
Payments to acquire real estate, seller earnout, contingent, not probable | $	$ 750,000
Bickford Development Properties [Member]
Developer Incentive Payments | $	250,000,000
Incentive to Lessee | $	$ 1,750,000,000
Number Of Development Projects Active	5
Construction of transitional rehabilitation center, number of beds | beds_or_units	60
Bickford Development Properties [Member] | July 2016 [Member]
Number Of Development Projects Active	1
Bickford Development Properties [Member] | October 2016 [Member]
Number Of Development Projects Active	2
Bickford Development Properties [Member] | April 2017 [Member]
Number Of Development Projects Active	1
Bickford Development Properties [Member] | Third Quarter 2017 [Member]
Number Of Development Projects Active	1

Commitments And Contingencies49

Commitments And Contingencies Commitments and Contingencies (Schedule of Loan Commitments) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Loans and Leases Receivable, Commitments, Fixed Rates	$ 117,000
Loans and Leases Receivable, Net Amount	(141,107)	$ (133,493)
Notes Receivable Funding Commitment	41,261
Life Care Services [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	60,000
Loans and Leases Receivable, Net Amount	(51,871)
Notes Receivable Funding Commitment	8,129
Bickford Senior Living [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	28,000
Loans and Leases Receivable, Net Amount	(8,126)
Notes Receivable Funding Commitment	19,874
Senior Living Communities [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	29,000
Loans and Leases Receivable, Net Amount	(15,742)
Notes Receivable Funding Commitment	13,258
Notes Receivable Remain Unfunded [Member]
Loans and Leases Receivable, Net Amount	$ (75,739)

Commitments And Contingencies50

Commitments And Contingencies Commitments and Contingencies (Schedule of Lease Commitments) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Maximum Commitment For All Active Development Projects	$ 129,800
Construction and Development Costs	(76,688)
Remaining Unfunded Development Commitment	53,112
Capital Addition Purchase Commitments [Member] | Ensign Group [Member]
Maximum Commitment For All Active Development Projects	56,000
Construction and Development Costs	(14,000)
Remaining Unfunded Development Commitment	42,000
Development Commitment [Member] | Bickford Senior Living [Member]
Maximum Commitment For All Active Development Projects	56,500
Construction and Development Costs	(53,857)
Remaining Unfunded Development Commitment	2,643
Development Commitment [Member] | Chancellor Healthcare [Member]
Maximum Commitment For All Active Development Projects	650
Construction and Development Costs	(62)
Remaining Unfunded Development Commitment	588
Capital Improvement Commitment [Member] | Bickford Senior Living [Member]
Maximum Commitment For All Active Development Projects	2,400
Construction and Development Costs	0
Remaining Unfunded Development Commitment	2,400
Capital Improvement Commitment [Member] | East Lake Capital [Member]
Maximum Commitment For All Active Development Projects	400
Construction and Development Costs	0
Remaining Unfunded Development Commitment	400
Capital Improvement Commitment [Member] | East Lake / Watermark Retirement [Member]
Maximum Commitment For All Active Development Projects	10,000
Construction and Development Costs	(5,900)
Remaining Unfunded Development Commitment	4,100
Capital Improvement Commitment [Member] | Sante Partners Commitment [Member]
Maximum Commitment For All Active Development Projects	3,500
Construction and Development Costs	(2,621)
Remaining Unfunded Development Commitment	879
Capital Improvement Commitment [Member] | Village Concepts [Member]
Maximum Commitment For All Active Development Projects	350
Construction and Development Costs	(248)
Remaining Unfunded Development Commitment	$ 102

Commitments And Contingencies51

Commitments And Contingencies Commitments and Contingencies (Schedule of Loss Contingencies) (Details)	6 Months Ended
	Jun. 30, 2017USD ($)
Contingent Funding Commitment	$ 27,430,000
Contingent Funding Commitment, Remaining Unfunded Amount	25,430,000
Contingent Amount Funded [Member]
Contingent Funding Commitment, Amount Funded	(2,000,000)
Bickford / Sycamore [Member]
Contingent Funding Commitment	10,000,000
Contingent Funding Commitment, Amount Funded	(2,000,000)
Contingent Funding Commitment, Remaining Unfunded Amount	8,000,000
East Lake Capital [Member]
Contingent Funding Commitment	8,000,000
Contingent Funding Commitment, Remaining Unfunded Amount	8,000,000
East Lake Capital [Member] | Maximum Contingent Amount [Member]
Lease Incentive Commitment Assessed As Not Probable	8,000,000
East Lake Capital [Member] | Contingent Amount Funded [Member]
Contingent Funding Commitment, Amount Funded	0
Sycamore Street [Member]
Letters of Credit Outstanding, Amount	1,930,000
Sycamore Street [Member] | Contingent Amount Funded [Member]
Letters of Credit Outstanding, Amount	0
Ravn Senior Solutions [Member]
Contingent Funding Commitment	1,500,000
Contingent Funding Commitment, Remaining Unfunded Amount	1,500,000
Lease Incentive Commitment Assessed As Not Probable	1,500,000
Ravn Senior Solutions [Member] | Contingent Amount Funded [Member]
Contingent Funding Commitment, Amount Funded	0
Prestige Senior Living [Member]
Contingent Funding Commitment	1,000,000
Contingent Funding Commitment, Remaining Unfunded Amount	1,000,000
Lease Incentive Commitment Assessed As Not Probable	1,000,000
Prestige Senior Living [Member] | Contingent Amount Funded [Member]
Contingent Funding Commitment, Amount Funded	0
The Lasalle Group [Member]
Contingent Funding Commitment	5,000,000
Contingent Funding Commitment, Remaining Unfunded Amount	5,000,000
Lease Incentive Commitment Assessed As Not Probable	5,000,000
The Lasalle Group [Member] | Contingent Amount Funded [Member]
Contingent Funding Commitment, Amount Funded	$ 0

Investment And Other Gains (Sch

Investment And Other Gains (Schedule of Investment And Other Gains) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Investment And Other Gains [Abstract]
Gain on sale of real estate	$ 0	$ 2,928	$ 50	$ 4,582
Gains on sales of marketable securities	0	23,487	10,038	23,498
Investment and other gains	$ 0	$ 26,415	$ 10,088	$ 28,080

Investment And Other Gains Inve

Investment And Other Gains Investment And Other Gains (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Marketable Securities, Realized Gain (Loss)	$ 0	$ 23,487	$ 10,038	$ 23,498
Proceeds from sales of marketable securities			18,182	$ 56,449
Marketable securities	0		0		$ 11,745
Available-for-sale Securities, Amortized Cost Basis	$ 1,680		1,680
2017 Sales Transaction [Member]
Proceeds from sales of marketable securities			11,718
2016 Sales Transaction [Member]
Proceeds from sales of marketable securities			$ 6,464

Share-Based Compensation Share-

Share-Based Compensation Share-Based Compensation (Schedule of Stock Option Valuation Assumptions) (Details)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Schedule of Stock Option Valuation Assumptions [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	5.30%	6.20%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	19.70%	19.10%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	3 years 4 months	2 years 11 months 4 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.49%	0.91%

Share-Based Compensation (Sched

Share-Based Compensation (Schedule Of Stock Option Activity) (Details) - shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Options outstanding, January 1	541,679	741,676
Options outstanding, March 31	934,181	760,008
Options exercisable, March 31	540,830	406,660
2012 Plan [Member]
Options granted	485,000	470,000
Options exercised	(70,830)	451,668
Options forfeited	(6,668)	0
2005 Plan [Member]
Options exercised	(15,000)	0

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)shares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / shares	May 07, 2015shares	May 31, 2012shares	May 31, 2005shares
Nonemployee director annual stock grants | shares			20,000
Stock or Unit Option Plan Expense	$ 342	$ 251	$ 1,865	$ 1,230
Unrecognized compensation cost	$ 1,302		$ 1,302
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares			$ 5.75	$ 3.65
2012 Plan [Member]
Shares available for grants | shares	961,668		961,668		3,000,000	1,500,000
Stock Option Plan, Award Vesting Period			5 years
Common stock on date granted term period, years			10
Prior To Shareholder Approval of Increase [Member]
Nonemployee director annual stock grants | shares			15,000
2005 Plan [Member]
Shares available for grants | shares							1,500,000
Stock Option Plan, Award Vesting Period			10 years
Common stock on date granted term period, years			10
Expected To Be Recognized During 2015 [Member]
Unrecognized compensation cost	$ 685		$ 685
Expected To Be Recognized During 2016 [Member]
Unrecognized compensation cost	552		552
Expected To Be Recognized During 2017 [Member]
Unrecognized compensation cost	$ 65		$ 65

Earnings and Dividends Per Sh57

Earnings and Dividends Per Share (Summary Of Calculation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share [Abstract]
Net income attributable to common stockholders	$ 38,245		$ 44,595	$ 82,475	$ 77,320
BASIC:
Weighted Average Number of Shares Outstanding, Basic	40,982,244		38,520,221	40,468,024	38,460,934
DILUTED:
Weighted average common shares outstanding, diluted	40,982,244		38,520,221	40,468,024	38,460,934
Stock options, diluted	66,137		41,163	63,901	27,154
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	196,792	147,420	0	147,420	0
Average dilutive common shares outstanding	41,245,173		38,561,384	40,679,345	38,488,088
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.93		$ 1.16
Income (Loss) from Continuing Operations, Per Diluted Share	$ 0.93		$ 1.16	$ 2.03	$ 2.01
Incremental shares excluded since anti-dilutive:
Stock options with an exercise price in excess of the market price for our common shares	11,015		14,940	9,736	41,773
Common Stock, Dividends, Per Share, Declared	$ 0.95		$ 0.90	$ 1.90
Common Stock Dividends, Per Share, Declared, Regular				$ 1.90	$ 1.80

Fair Value Of Financial Instr58

Fair Value Of Financial Instruments (Schedule Of Assets And Liabilities Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Inputs, Level 2 [Member]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	$ 3,057	$ 4,279
Common Stock, Healthcare REIT [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale Securities	$ 0	$ 11,745

Fair Value of Financial Instr59

Fair Value of Financial Instruments (Fair Value Measurements, Nonrecurring) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and Leases Receivable, Net Amount	$ 141,107	$ 133,493
Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and Leases Receivable, Net Amount	141,107	133,493
Reported Value Measurement [Member] | Variable Interest Rate Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	435,389	404,828
Reported Value Measurement [Member] | Fixed Interest Rate Debt [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	709,616	711,153
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and Leases Receivable, Net Amount	144,448	133,229
Estimate of Fair Value Measurement [Member] | Variable Interest Rate Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	438,000	408,000
Estimate of Fair Value Measurement [Member] | Fixed Interest Rate Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 710,921	$ 706,332

Subsequent Events Subsequent 60

Subsequent Events Subsequent Events (Narrative) (Details)	Aug. 06, 2017	Jul. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Aug. 07, 2017USD ($)beds_or_units	Jul. 31, 2017a
Subsequent Event [Line Items]
Payments to Acquire Real Estate			$ 128,411,000	$ 261,610,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Land Subject to Ground Leases | a						10
Payments to Acquire Real Estate		$ 5,000,000
Initial lease rate						7.00%
Lessor, Operating Lease, Term of Contract		10 years
Lease Escalator Rate						2.00%
Evolve Senior Living [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Mortgage Loans on Real Estate					$ 10,000,000
Number of Units in Real Estate Property | beds_or_units					40
Note Receivable Interest Rate					8.00%
Loan Term	5 years
Purchase Option, Open Period, Begin, Note Year	2 years

Uncategorized Items - nhi-20170

Label	Element	Value
Interest Paid	us-gaap_InterestPaid	$ 19,057,000
Interest Paid	us-gaap_InterestPaid	$ 21,763,000