National Health Investors (NHI) 10-Q 10 Aug 20 2020 FY Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 05, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-10822
Entity Registrant Name	National Health Investors Inc
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	62-1470956
Entity Address, Address Line One	222 Robert Rose Drive
Entity Address, City or Town	Murfreesboro
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37129
City Area Code	(615)
Local Phone Number	890-9100
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	NHI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		44,650,002
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0000877860
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Land	$ 219,919	$ 213,617
Buildings and improvements	3,025,619	2,836,673
Construction in progress	1,600	24,556
Real estate properties, gross	3,247,138	3,074,846
Less accumulated depreciation	(555,762)	(514,453)
Real estate properties, net	2,691,376	2,560,393
Mortgage and other notes receivable, net	300,130	340,143
Cash and cash equivalents	46,853	5,215
Straight-line rent receivable	89,090	86,044
Assets held for sale, net	0	18,420
Other assets	39,522	32,020
Total Assets	3,166,971	3,042,235
Liabilities and Stockholders' Equity:
Debt	1,554,241	1,440,465
Accounts payable and accrued expenses	33,026	26,313
Dividends Payable	49,226	46,817
Lease deposit liabilities	10,638	10,638
Deferred income	16,371	19,750
Total Liabilities	1,663,502	1,543,983
Commitments and Contingencies
National Health Investors, Inc. Stockholders' Equity:
Common stock, $.01 par value; 60,000,000 shares authorized; 43,357,018 and 42,700,411 shares issued and outstanding, respectively	447	446
Capital in excess of par value	1,505,265	1,505,948
Cumulative net income in excess of dividends	(2,618)	(5,331)
Accumulated other comprehensive income	(10,735)	(3,432)
Total National Health Investors, Inc. Stockholders' Equity	1,492,359	1,497,631
Noncontrolling interest	11,110	621
Total Equity	1,503,469	1,498,252
Total Liabilities and Equity	$ 3,166,971	$ 3,042,235

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	60,000,000
Common stock, shares issued	44,650,002	44,587,486
Common stock, shares outstanding	44,650,002	44,587,486

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Rental income	$ 77,917	$ 72,578	$ 154,444	$ 143,531
Interest income and other	6,257	5,518	12,827	10,673
Revenues	84,174	78,096	167,271	154,204
Expenses:
Depreciation	20,847	19,020	41,290	37,511
Interest	13,557	13,746	27,697	27,264
Legal	250	99	585	369
Franchise, excise and other taxes	145	775	389	1,320
General and administrative	3,032	2,972	7,342	6,986
Property taxes and insurance on leased properties	1,450	1,506	3,002	2,597
Loan and realty losses	(380)	0	1,195	2,500
Total operating expenses	38,901	38,118	81,500	78,547
Income (Loss) from Equity Method Investments	(848)	0	(1,290)	0
Gains (Losses) on Sales of Investment Real Estate	0	0	21,007	0
Net income	44,425	39,978	105,488	75,657
Less: net loss attributable to noncontrolling interest	(57)	1	(96)	1
Net income	$ 44,368	$ 39,979	$ 105,392	$ 75,658
Weighted average common shares outstanding:
Basic	44,650,002	43,232,384	44,631,797	43,029,104
Diluted	44,650,002	43,498,021	44,634,070	43,311,527
Basic:
Net income attributable to common stockholders - basic	$ 0.99	$ 0.92	$ 2.36	$ 1.76
Diluted:
Net income attributable to common stockholders - diluted	$ 0.99	$ 0.92	$ 2.36	$ 1.75

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 44,425	$ 39,978	$ 105,488	$ 75,657
Other comprehensive income (loss):
Increase (decrease) in fair value of cash flow hedge	867	3,451	10,058	4,117
Less: reclassification adjustment for amounts recognized in net income	2,263	(350)	2,755	(641)
Total other comprehensive income (loss)	1,396	(3,801)	(7,303)	(4,758)
Comprehensive income	45,821	36,177	98,185	70,899
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	(57)	1	(96)	1
Comprehensive income	$ 45,764	$ 36,178	$ 98,089	$ 70,900

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 105,488	$ 75,657
Changes in operating assets and liabilities:
Depreciation	41,290	37,511
Amortization of Debt Issuance Costs	2,350	2,551
Amortization of commitment fees	(435)	(241)
Amortization of lease incentives	485	383
Straight-line rental income	(10,395)	(10,535)
Non-cash interest income on construction loan	(1,844)	(1,005)
Gains (Losses) on Sales of Investment Real Estate	(21,007)	0
Income (Loss) from Equity Method Investments	1,290	0
Loan and realty losses	1,195	2,500
Payment of Tenant Lease Incentives	0	(2,600)
Share-based compensation	2,315	2,478
Change in operating assets and liabilities:
Other assets	(742)	2,474
Accounts payable and accrued expenses	(3,318)	1,571
Deferred income	137	16,170
Net cash provided by operating activities	116,809	126,914
Cash flows from investing activities:
Investment in mortgage and other notes receivable	(32,826)	(59,655)
Collection of mortgage and other notes receivable	14,579	558
Investment in real estate	(94,630)	(200,632)
Payments to Develop Real Estate Assets	(54)	0
Payments to Renovate Real Estate	(5,579)	(8,300)
Payments to Acquire Equity Method Investments	(875)	0
Proceeds from Sale of Wholly Owned Real Estate and Real Estate Acquired in Settlement of Loans	39,260	0
Net cash used in investing activities	(80,125)	(268,029)
Cash flows from financing activities:
Proceeds from revolving credit facilities	145,000	292,000
Payments on revolving credit facilities	(32,000)	(103,000)
Repayments of Long-term Debt	(609)	(589)
Debt issuance costs	0	(90)
Payments to Noncontrolling Interests	(298)	0
Proceeds from Noncontrolling Interests	13	642
Value of shares withheld from options exercised for employee tax withholding	(2,705)	(1,016)
Proceeds from issuance of common shares, net	0	47,854
Payments of Stock Issuance Costs	(293)	0
Dividends paid to stockholders	(96,043)	(88,060)
Net cash provided by (used in) financing activities	13,065	147,741
Increase in cash and cash equivalents and restricted cash	49,749	6,626
Cash and cash equivalents and restricted cash, beginning of period	65,418	16,538
Supplemental disclosure of cash flow information:
Interest paid, net of amounts capitalized	23,533	26,032
Supplemental schedule of non-cash investing and financing activities:
Change in straight-line rent receivable related to investments in real estate	0	38,000
Change in mortgage notes receivable related to investments in real estate	59,350	0
Increase in mortgage note receivable from sale of real estate	4,000	0
Change in other assets related to investments in real estate	0	176
Change in accounts payable related to investments in real estate construction	1,899	(1,981)
Change in accounts payable related to investments in real estate acquisition	0	1,178
Change in accounts payable related to distributions to noncontrolling interests	$ 100	$ 0

Consolidated Statement Of Equit

Consolidated Statement Of Equity - USD ($) $ in Thousands	Total	Revision of Prior Period, Accounting Standards Update, Adjustment	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Dividends In Excess Of Net Income [Member]	Cumulative Dividends In Excess Of Net Income [Member]Revision of Prior Period, Accounting Standards Update, Adjustment	Accumulated Other Comprehensive Income (Loss) [Member]	Parent [Member]	Parent [Member]Revision of Prior Period, Accounting Standards Update, Adjustment	Noncontrolling Interest [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,389,713		$ 427	$ 1,369,919	$ 18,068		$ 1,299	$ 1,389,713		$ 0
Balance, shares at Dec. 31, 2018			42,700,411
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, New Issues	618,654
Net income (loss) attributable to common stockholders	$ 75,658
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	(1)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	70,899
Balance, shares at Jun. 30, 2019			43,357,018
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,419,686		$ 434	1,419,228	2,842		(3,459)	1,419,045		641
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,498,252		$ 446	1,505,948	(5,331)		(3,432)	1,497,631		621
Balance, shares at Dec. 31, 2019	44,587,486		44,587,486
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, New Issues	0
Net income (loss) attributable to common stockholders	$ 105,392
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	96
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 98,185
Balance, shares at Jun. 30, 2020	44,650,002		44,650,002
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,503,469		$ 447	$ 1,505,265	$ (2,618)		$ (10,735)	$ 1,492,359		$ 11,110
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Retained Earnings (Accumulated Deficit)		$ (4,225)				$ (4,225)			$ (4,225)

Consolidated Statement Of Equ_2

Consolidated Statement Of Equity Consolidated Statement of Equity (Parenthetical) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 1.1025	$ 1.1025	$ 1.05	$ 1.05	$ 2.205	$ 2.10

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure	Note 1. Organization and Nature of Business National Health Investors, Inc. (“NHI” or “the Company”), established in 1991 as a Maryland corporation, is a self-managed real estate investment trust (“REIT”) that invests in need-driven and discretionary senior housing and other healthcare-related real estate properties located throughout the United States. As of June 30, 2020, we had investments of $3,244,562,000 (excluding our corporate office of $2,575,000) in 227 health care real estate properties located in 34 states and leased pursuant primarily to triple-net leases to 34 lessees consisting of 150 senior housing communities (“SHO”), 72 skilled nursing facilities, 3 hospitals and 2 medical office buildings. Our portfolio of 16 mortgage and other notes receivable totaled $305,319,000, excluding an allowance for expected credit losses of $5,189,000, as of June 30, 2020.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Note 2. Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements. In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation. Interim results of operations are not necessarily indicative of the results that may be achieved for a full year. The condensed consolidated financial statements and related notes do not include all information and footnotes required by GAAP for annual reports. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2019, included in our 2019 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”). Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries and subsidiaries in which we have a controlling interest. We also consolidate certain entities when control of such entities can be achieved through means other than voting rights (“variable interest entities” or “VIEs”) if the Company is deemed to be the primary beneficiary of such entities. All material intercompany transactions and balances are eliminated in consolidation. At June 30, 2020, we held interests in eight unconsolidated VIEs, and, because we lack either directly or through related parties the power to direct 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 either amortized cost or net realizable value for straight-line receivables, excluding Timber Ridge OpCo which is accounted for under the equity-method. NHI’s VIEs are summarized below by date of initial involvement. For further discussion of the nature of the relationships, including the sources of 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 Note Reference 2012 Bickford Senior Living Various 1 $ 60,708,000 $ 74,864,000 Notes 3, 4 2014 Senior Living Communities Notes and straight-line receivable $ 93,401,000 $ 97,404,000 Notes 3, 4 2016 Senior Living Management Notes and straight-line receivable $ 26,969,000 $ 26,969,000 — 2017 Evolve Senior Living Notes $ 9,958,000 $ 9,958,000 — 2018 Sagewood, LCS affiliate Notes $ 142,586,000 $ 178,697,000 Note 4 2019 41 Management, LLC Notes and straight-line receivable $ 12,868,000 $ 15,315,000 Note 7 2020 Timber Ridge OpCo Various 2 $ (414,000) $ 4,586,000 Notes 3, 5 2020 Watermark Retirement Notes and straight-line receivable $ 3,628,000 $ 8,628,000 Note 7 1 Notes, loan commitments, straight-line rent receivables, and unamortized lease incentives 2 Loan commitment, equity method investment and straight-line rent receivables 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. Economic loss on a lease, above what is presented in the table above, 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 to a new tenant. The potential extent of such loss will be dependent upon individual facts and circumstances, and is therefore not included in the tabulation above. We consolidate two real estate partnerships formed with our partners, Discovery Senior Housing Investor XXIV, LLC, (“Discovery”) and LCS Timber Ridge LLC (“LCS”) to invest in senior housing facilities. As of and for the six months ended June 30, 2020, our non-controlling interests relate to these partnerships with Discovery and LCS. We use the equity method of accounting when we own an interest in an entity whereby we can exert significant influence over but cannot control the entity’s operations. We discontinue equity method accounting if our investment in an entity (and net advances) is reduced to zero unless we have guaranteed obligations of the entity or are otherwise committed to provide further financial support for the entity. Cash and Cash Equivalents and Restricted Cash Cash equivalents consist of all highly liquid investments with an original maturity of three months or less. Restricted cash includes amounts required to be held on deposit with a qualified intermediary subject to an Internal Revenue Code §1031 exchange agreement or in accordance with agency agreements governing our Fannie Mae and U.S. Department of Housing and Urban Development (“HUD”) mortgages. The following table sets forth our cash, cash equivalents and restricted cash reported within the Company’s Condensed Consolidated Statements of Cash Flows (in thousands) : June 30, June 30, Cash and cash equivalents $ 46,853 $ 5,635 Restricted cash (included in Other assets) 18,565 10,903 $ 65,418 $ 16,538 New Accounting Pronouncements For information about significant accounting policies, refer to the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2019 included in the Company’s 2019 Annual Report on Form 10-K filed with the SEC. During the six months ended June 30, 2020, there were no material changes to these policies except as noted below. With the adoption of Accounting Standards Update 2016-13, Financial Instruments - Credit Losses effective January 1, 2020, we estimate and record an allowance for credit losses upon origination of the loan, based on expected credit losses over the term of the loan and update this estimate quarterly as of the balance sheet date. We calculate the estimated credit losses on mortgages by pooling these loans into two groups – investments in existing or new mortgages and construction mortgages. Mezzanine and revolving lines of credit are evaluated at the individual loan level. We estimate the allowance for credit losses by utilizing a loss model that relies on future expected credit losses, rather than incurred losses. This loss model incorporates our historical experience, adjusted for current conditions and our forecasts, using the probability of default and loss given default method. Incorporated into the construction mortgage loss model is an estimate of the probability that NHI will acquire the property. Using the resulting estimate, a portion of the outstanding construction mortgage balance which we currently expect will be reduced by our acquisition of the underlying property when construction is complete, is deducted from the construction mortgage balance included in the expected loss calculation. Mezzanine loans and revolving lines of credit are also based on the loss model to recognize expected future credit losses and are applied to each individual loan using borrower specific information. We also perform a qualitative assessment beyond model estimates and apply adjustments as necessary. The credit loss estimate is based on the net amortized cost balance of our mortgage and other notes receivables as of the balance sheet date. Calculation of the allowance for credit losses involves significant judgement. It is possible that actual credit losses will differ materially from our current estimates. Write-offs are deducted from the allowance for credit losses when we judge the principal to be uncollectable. Upon adoption, we recorded an allowance for expected credit losses of $3,900,000 that is reflected as an adjustment to Mortgage and other notes receivable, net, in the Condensed Consolidated Balance Sheets and recorded a corresponding cumulative-effect adjustment to cumulative dividends in excess of net income. Upon adoption, we also recorded a $325,000 liability for estimated credit losses pertaining to unfunded loan commitments as a cumulative dividends in excess of net income. The corresponding credit loss liability is included in the financial statement caption Accounts payable and accrued expenses in the Condensed Consolidated Balance Sheets. In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future London Inter-bank Offered Rate (”LIBOR”) indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of the coronavirus pandemic (“COVID-19”). Prior to issuance of the Lease Modification Q&A, we would determine, on a lease-by-lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A clarifies that entities may elect not to evaluate whether lease-related relief provided to mitigate the economic effects of COVID-19 is a lease modification under ASC 842. Instead, an entity that elects not to evaluate whether a concession directly related to COVID-19 is a modification can then elect whether to apply the modification guidance (i.e., assume relief was always contemplated by the contract or assume the relief was not contemplated by the contract), with such election applied consistently to leases with similar characteristics and similar circumstances. During the six months ended June 30, 2020, the Company did not provide any lease concessions as a result of COVID-19. If lease concessions related to the effects of COVID-19 become necessary, NHI has elected to account for those concessions which do not substantially increase either our rights as lessor or the obligations of the tenant consistent with how those concessions would be accounted for as though the enforceable rights and obligations for those concessions existed under our leases. The future impact of the Lease Modification Q&A is dependent upon the nature and extent of lease concessions granted to tenants as a result of COVID-19 in future periods and the elections made by the Company at the time of entering into such concessions.

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2020
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	Note 3. Real Estate Properties and Investments During the six months ended June 30, 2020 , we made the following real estate investments and related commitments ($ in thousands) : Operator Date Properties Asset Class Land Improvements Total Bickford Senior Living Q1 2020 1 SHO $ 1,588 $ 13,512 $ 15,100 Life Care Services Q1 2020 1 SHO 4,370 130,522 134,892 Autumn Trace Q2 2020 2 SHO 344 13,906 14,250 $ 6,302 $ 157,940 $ 164,242 Bickford - Shelby, MI On January 27, 2020, we acquired a 60-unit assisted living/memory care facility located in Shelby, Michigan, from Bickford. The acquisition price was $15,100,000 and included the full payment of an outstanding construction note receivable of $14,091,000, including interest. We added the facility to an existing master lease for a term of twelve years at an initial lease rate of 8%, with CPI escalators subject to a floor and ceiling. Life Care Services On January 31, 2020 we acquired an 80% equity interest in a property company, NHI-LCS JV I, LLC (“Timber Ridge PropCo”), which owns a 401-unit Continuing Care Retirement Community (“CCRC”) located in Issaquah, Washington comprising 330 independent living units, 26 assisted living/memory care units and 45 skilled nursing beds. The same transaction conveyed to NHI a 25% equity interest in the newly formed operating company, Timber Ridge OpCo, LLC (“Timber Ridge OpCo”). Total consideration for NHI’s interests in the combined venture was $124,989,000, comprised of the $59,350,000 remaining balance of a mortgage note initially funded in 2015, an additional loan of $21,650,000, and cash of $43,114,000 to Timber Ridge PropCo and $875,000 to Timber Ridge OpCo. Total debt due from Timber Ridge PropCo of $81,000,000, bears interest to NHI at 5.75%. LCS paid $10,778,000 for its 20% equity stake in Timber Ridge PropCo and provided $2,625,000 for a 75% equity participation in Timber Ridge OpCo. The lease between Timber Ridge PropCo and Timber Ridge OpCo carries a rate of 6.75% for an initial term of seven years plus renewal options and has a CPI-based lease escalator, subject to floor and ceiling. Including interest payments on debt to NHI and our lease participation in the Timber Ridge PropCo, as detailed above, we expect to receive $8,216,000 in the first twelve months plus 25% of the remaining Timber Ridge OpCo cash flow. NHI’s contribution was allocated to our interest in the tangible assets of Timber Ridge PropCo with no material fair value allocated to Timber Ridge OpCo beyond our initial investment. The lease between Timber Ridge PropCo and Timber Ridge OpCo includes an “earn out” provision whereby Timber Ridge OpCo could become eligible for a payment of $10,000,000 based on the attainment of certain operating metrics. See Note 5 for a discussion of Timber Ridge OpCo. Autumn Trace On May 1, 2020, we acquired two senior housing facilities each with 44 assisted living units for a total purchase price of $14,250,000, including $150,000 in closing costs. The facilities are located in Indiana and are leased to Autumn Trace Senior Communities, which is a new operator relationship for NHI. The 15-year master lease has an initial lease rate of 7.25% with fixed annual escalators of 2.25% and offers two optional extensions of 5 years each. NHI was also granted a purchase option on a newly opened Indiana facility that is expected to stabilize during 2020. Tenant Concentration The following table contains information regarding tenant concentration in our portfolio, based on the percentage of revenues for the six months ended June 30, 2020 and 2019, related to tenants or affiliates of tenants, that exceed 10% of total revenue ( $ in thousands ): as of June 30, 2020 Revenues 2 Number of Real Notes Six Months Ended June 30, Properties Estate Receivable 1 2020 2019 Senior Living Communities 10 $ 573,631 $ 57,675 $ 26,140 16% $ 23,962 16% Holiday Retirement 26 531,378 — 20,353 12% 20,106 13% Bickford Senior Living 48 534,376 32,744 27,392 16% 26,122 17% National HealthCare 42 171,297 — 18,904 11% 19,209 12% All others 1,433,880 214,900 74,482 64,805 $ 3,244,562 $ 305,319 $ 167,271 $ 154,204 1 excludes estimated credit loss reserve of $5,189 2 includes interest income on notes receivable At June 30, 2020, the one state in which we had an investment concentration of 10% or more was South Carolina (10.3%). Purchase Options Certain of our leases contain purchase options allowing tenants to acquire the leased properties. At June 30, 2020, we had a net investment of $11,784,000 in two real estate properties which are subject to exercisable tenant purchase options. Tenant purchase options on 12 properties in which we had an aggregate net investment of $120,808,000 at June 30, 2020, become exercisable between 2021 and 2028. Rental income from leased properties with tenant purchase options either currently exercisable or exercisable in the future was $8,715,000 and $9,216,000 for the six months ended June 30, 2020 and 2019, respectively. We cannot reasonably estimate at this time the probability that these purchase options will be exercised in the future. Consideration to be received from the exercise of any tenant purchase option is expected to exceed our net investment in the leased property or properties. Other Portfolio Activity Tenant Bankruptcy We have a net investment of $10,075,000 in an acute care hospital leased to Quorum Health Corporation (“Quorum”) pursuant to a triple-net lease that expires in June 2022. Quorum filed for Chapter 11 bankruptcy in April 2020. As a result, the Company wrote off straight-line rent receivable under the lease of $380,000 in the first quarter of 2020 and began recognizing revenues under the lease as cash is received. In July 2020 Quorum completed its bankruptcy restructuring and continues to operate the hospital while timely paying its rent under the lease, which totaled $1,751,000 for the six months ended June 30, 2020. Tenant Transitioning As of June 30, 2020, we had nine properties that have been transitioned to five new tenants following a period of non-compliance by the former operator. The leases with the new operators specify periods during which rental income is based on net operating income, after deduction of management fees. We recognized rental income from these properties of $1,269,000 and $2,824,000 for the three and six months ended June 30, 2020, respectively and $506,000 and $1,208,000 for the three and six months ended June 30, 2019, respectively. In the future, NHI may be deemed the primary beneficiary of the operations if the tenants do not have adequate liquidity to accept the risks and rewards as the tenant and operator of the stabilizing properties and might be required to consolidate the statements of financial position and results of operations of the operators into our consolidated financial statements. Asset Dispositions In September 2019, we classified a portfolio of eight assisted living properties located in Arizona (4), Tennessee (3) and South Carolina (1) as held for sale, after the current tenant, Brookdale Senior Living, expressed an intention to exercise its purchase option on the properties. The purchase option called for the parties to split any appreciation on an equal basis above $37,520,000. During the first quarter of 2020, NHI and the tenant agreed to a fair valuation of $41,000,000 for the properties, and, accordingly, on January 22, 2020, we disposed of the properties at the agreed price of $39,260,000 and recognized a gain of $20,752,000. For the six months ended June 30, 2020 and 2019, we recognized $229,000 and $2,125,000, respectively, of rental income from this portfolio. On February 21, 2020, we disposed of two assisted living properties previously classified as held-for-sale in exchange for a term note of $4,000,000 from the buyer, Bickford. The note, which is due February 2025 and bears interest at 7%, will begin amortizing on a twenty-five-year basis in January 2021. In the first quarter of 2019 we recorded an adjustment to write off straight-line rent receivables of $124,000 and recognized an impairment loss of $2,500,000, included in loan and realty (gains) losses on the Condensed Consolidated Statements of Income to write down the properties to their estimated net realizable value upon classification of these properties as held-for-sale. Future Minimum Base Rent Future minimum base rents due under the remaining non-cancelable terms of operating leases in place as of June 30, 2020, are as follows ( in thousands ): Remainder of 2020 $ 141,225 2021 281,081 2022 285,478 2023 281,615 2024 274,075 2025 267,462 Thereafter 1,394,428 $ 2,925,364 We assess the collectability of lease payments to be received from our tenants, which includes receivables, consisting primarily of straight-line rents receivable, based on several factors, including payment history, the financial strength of the tenant and any guarantors, historical operations and operating trends of the property, and current economic conditions. If our evaluation of these factors indicates it is not probable that we will be able to collect substantially all of the lease payments, we recognize lease payments on a cash basis and de-recognize all rent receivable assets, including the straight-line rent receivable asset as a reduction in rental revenue. Variable Lease Payments Most of our existing leases contain annual escalators in rent payments. For financial statement purposes, rental income is recognized on a straight-line basis over the term of the lease where the lease contains fixed escalators. Some of our leases contain escalators that are determined annually based on a variable index or other factor that is indeterminable at the inception of the lease. The table below indicates the revenue recognized as a result of fixed and variable lease escalators ( in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Lease payments based on fixed escalators $ 69,669 $ 64,570 $ 138,103 $ 128,033 Lease payments based on variable escalators 1,400 1,195 2,764 2,366 Straight-line rent income 5,218 5,307 10,395 10,535 Escrow funds received from tenants 1,630 1,506 3,182 2,597 Rental income $ 77,917 $ 72,578 $ 154,444 $ 143,531

Mortgage And Other Notes Receiv

Mortgage And Other Notes Receivable	6 Months Ended
	Jun. 30, 2020
Mortgage and Other Notes Receivable [Abstract]
Mortgage Notes Receivable	Mortgage and Other Notes Receivable At June 30, 2020, we had investments in mortgage notes receivable secured by real estate and other assets of the borrower (e.g. UCC liens on personal property) related to 16 facilities and other notes receivable guaranteed by significant parties to the notes or by cross-collateralization of properties with the same owner with an aggregate carrying value of $300,130,000, net of an allowance of $5,189,000. All our notes were on full accrual basis at June 30, 2020. Credit Loss Reserve Our principal measures of credit quality, except for construction mortgages, are debt service coverage for amortizing loans and interest or fixed charge coverage for non-amortizing loans collectively (“Coverage”). A Coverage ratio provides a measure of the borrower’s ability to make scheduled principal and interest payments. The Coverage ratios presented in the following table have been calculated utilizing the most recent date for which data is available, March 31, 2020, using EBITDARM (earnings before interest, taxes, depreciation, amortization, rent and management fees) and the requisite debt service, interest service or fixed charges, as defined in the applicable loan agreement. We categorize Coverage into three levels: (i) over 1.5x, (ii) between 1.0x and 1.5x, (iii) less than 1.0x. We update the calculation of coverage on a quarterly basis. Coverage is not a meaningful credit quality indicator for construction mortgages as either these developments are not generating any operating income, or they have insufficient operating income as occupancy levels necessary to stabilize the properties have not yet been achieved. We measure credit quality for these mortgages by considering the construction and stabilization timeline and the financial condition of the borrower as well as economic and market conditions. As of June 30, 2020, we did not have any construction loans that we considered underperforming. The tables below present outstanding note balances as of June 30, 2020 at amortized cost. We consider the guidance in ASC 310-20 when determining whether a modification, extension or renewal constitutes a current period origination. The credit quality indicator as of March 31, 2020, is presented below for the amortized cost, net by year of origination ( $ in thousands ): 2020 2019 2018 2017 2016 Prior Total Mortgages more than 1.5x $ 1,471 $ 8,268 $ 169,859 $ — $ — $ 6,989 $ 186,587 between 1.0x and 1.5x — 3,854 — — 10,000 — 13,854 below 1.0x 4,000 39,123 — 9,958 — — 53,081 No coverage available — — — — — — — 5,471 51,245 169,859 9,958 10,000 6,989 253,522 Mezzanine more than 1.5x — — — — — — — between 1.0x and 1.5x — — — — 14,472 — 14,472 below 1.0x — — — — 13,979 11,875 25,854 No coverage available — 475 — — — — 475 — 475 — — 28,451 11,875 40,801 Revolver more than 1.5x — between 1.0x and 1.5x 10,996 below 1.0x — 10,996 Credit loss reserve (5,189) $ 300,130 Due to the economic uncertainty created by COVID-19 and the potential impact on the collectability of our mortgages and other notes receivable, we are forecasting a 20% increase in the probability of a default and a 20% increase in the amount of loss from a default resulting in an effective adjustment of 44%. The COVID-19 adjustments resulted in a $1,700,000 increase in the credit loss reserve during the first quarter of 2020. Excluding the effects of the COVID-19 adjustment, our provision for expected credit losses decreased by $411,000 since our adoption of the credit loss guidance on January 1, 2020, due primarily to a decrease in the balance of our construction mortgage receivables and the resulting reduction in our historical probability of default experience for our acquisition and construction mortgage pool. The allowance for expected credit losses for our commercial loans is presented in the following table for the six months ended June 30, 2020 ( $ in thousands ): Beginning balance January 1, 2020 (upon adoption of ASU 2016-13) $ 3,900 Provision for expected credit losses 1,289 Balance June 30, 2020 $ 5,189 Bickford At June 30, 2020, our construction loans to Bickford are summarized in the following table ($ in thousands) : Commencement Rate Maturity Commitment Drawn Location January 2018 9% 5 years $ 14,000 $ (13,377) Virginia July 2018 9% 5 years 14,700 (13,896) Michigan June 2020 9% 5 years 14,200 (1,471) Virginia $ 42,900 $ (28,744) On June 30, 2020, we entered into a $14,200,000 construction loan agreement with Bickford to construct a 64-unit assisted living facility. The construction loans 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 property. Usual and customary covenants extend to the agreements, including the borrower’s obligation for payment of insurance and taxes. NHI has a fair market value purchase option on the properties at stabilization of the underlying operations. On these development projects, Bickford as borrower is entitled to up to $2,000,000 per project in incentives based on the achievement of predetermined operational milestones and, if funded, will increase NHI's future purchase price and eventual NHI lease payment. Our loans to Bickford represent a variable interest and Bickford is considered a VIE. We have concluded that we are not the primary beneficiary. Life Care Services - Timber Ridge In February 2015, we entered into a loan agreement in which the proceeds were used to fund the construction of Phase II of Timber Ridge at Talus, a Type-A continuing care retirement community in Issaquah, Washington. The outstanding balance due from LCS-Westminster Partnership III LLP (“LCS-WP III”), an affiliate of LCS and the manager of the facility, was $59,350,000 as of January 31, 2020, when we acquired the property and Timber Ridge PropCo assumed the debt (see Note 3) which was increased to $81,000,000 as part of the transaction. To provide working capital in support of the CCRC’s entry-fee model, NHI agreed to supply a revolving line of credit permitting draws up to a maximum of $5,000,000. See Note 5 for more information about our equity-method investment in Timber Ridge OpCo. Life Care Services - Sagewood In December 2018, we entered into an agreement to lend LCS-Westminster Partnership IV LLP (“LCS-WP IV”), an affiliate of LCS, the manager of the facility, up to $180,000,000. The loan agreement conveys a mortgage interest and will facilitate the construction of Phase II of Sagewood, a Type-A Continuing Care Retirement Community in Scottsdale, AZ. As an affiliate of a larger company, LCS-WP IV is structured to limit liability for potential damage claims, is capitalized to achieve that purpose and is considered a VIE. As discussed more fully in Note 2, we have concluded that we are not the primary beneficiary. The loan conveys a mortgage interest in the form of two notes under a master credit agreement. The senior note (“Note A”) totals $118,800,000 at a 7.25% interest rate with 10 basis-point annual escalators after three years and has a term of 10 years. We have funded $82,689,000 of Note A as of June 30, 2020. Note A is interest-only and is locked to prepayment until January 2021. After 2020, the prepayment penalty starts at 2% and declines to 1% in 2022. The second note (“Note B”) is a construction loan for up to $61,200,000 at an annual interest rate of 8.5% and carries a maturity of five years. The total amount funded on Note B was $61,200,000 as of June 30, 2020. Senior Living Communities In December 2014, we provided a revolving line of credit, the maturity of which mirrors the 15-year term of the master lease. Borrowings are used primarily to finance construction projects within the Senior Living portfolio, including building additional units and may also be used to meet general working capital needs. The facility was amended in December 2019, to reduce availability to $12,000,000 with a further reduction in capacity to $7,000,000 beginning January 1, 2022 through lease maturity in December 2029. Also effective in December 2019, a sub-limit on the availability of funding for working capital needs was established at $10,000,000 for this loan, extending through January 1, 2022, at which time the limit is to be reduced to $5,000,000. At June 30, 2020, the $10,996,000 outstanding under the facility bears interest at 6.66% per annum, the prevailing 10-year U.S. Treasury rate plus 6%. NHI had two mezzanine loans of up to $12,000,000 and $2,000,000, respectively, to affiliates of Senior Living, whose purpose was to partially fund construction of a 186-unit senior living campus on Daniel Island in South Carolina, which opened in April 2018. The loans bore interest, payable monthly, at a 10% annual rate. The fully drawn loan balances including accrued interest were paid in full on July 31, 2020. Our loans to Senior Living and its subsidiaries represent a variable interest. Senior Living is structured to limit liability for potential claims for damages, is appropriately capitalized for that purpose and is considered a VIE. As discussed more fully in Note 2, we have concluded that we are not the primary beneficiary of Senior Living.

Equity Method Investment

Equity Method Investment	6 Months Ended
	Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure	Note 5. Equity Method Investment Equity Method Investment As discussed in Note 2, our investment in the operating company, Timber Ridge OpCo, held by our Taxable REIT Subsidiary (“TRS”) and recorded in the initial amount of $875,000, arose in conjunction with the acquisition of a CCRC from LCS-WP III. We structured our arrangement with our JV partner, LCS Timber Ridge LLC, to be compliant with the provisions of the REIT Investment Diversification and Empowerment Act of 2007 (“RIDEA”) which permits NHI to receive rent payments through a triple-net lease between Timber Ridge PropCo, the property company, and Timber Ridge OpCo and is designed to give NHI the opportunity to capture additional value on the improving performance of the operating company through distributions from the TRS. Accordingly, the TRS holds our 25% equity interest in Timber Ridge OpCo in order to provide an organizational structure that will allow the TRS to engage in a broad range of activities and share in cash-flows that would otherwise be non-qualifying income under the REIT gross income tests. Timber Ridge OpCo’s activities are managed through an “eligible independent contractor” subject to the oversight of Timber Ridge OpCo’s board. This organizational structure meets the requirements of Internal Revenue Code regulations for TRS entities. LCS is the managing member of Timber Ridge OpCo, although we have retained specific non-controlling rights. As a result of LCS’s retention of operations oversight and control over all day-to-day business matters, our participating influence at Timber Ridge OpCo does not amount to control of the entity. As part of our acquisition of the Timber Ridge property in January 2020, we accepted the property subject to trust liens previously granted to residents of Timber Ridge. Beginning in 2008, early residents of Timber Ridge executed loans to the then owner/operators backed by liens and entered into a Deed of Trust and Indenture of Trust (the “Deed and Indenture”) for the benefit of the trustee (now Wilmington Trust, N.A., “Trustee”) on behalf of all residents who made mortgage loans to the owner/operator in accordance with a resident agreement. The Deed and Indenture granted a security interest in the Timber Ridge property to secure the loans made by the early residents of the property. Subsequent to these early transactions, the practice was discontinued at Timber Ridge. Our entry into the Timber Ridge joint venture involved the separation of the existing owner/operator configuration into property and operating companies. Accomplishing the split required the allocation of assets and liabilities of the previously unified entity. Timber Ridge PropCo acquired the Timber Ridge property, subject to the resident mortgages secured by the Deed and Indenture. Accordingly, the remaining outstanding “old” loans made by the residents are still secured by a security interest in the Timber Ridge property. The trustee for all of the residents who made “old” loans in accordance with the resident agreements, entered into a subordination agreement concurrent with our acquisition, pursuant to which the Trustee acknowledged and confirmed that the security interests created under the Deed and Indenture were subordinate to any security interests granted in connection with the loan made by NHI to Timber Ridge PropCo. With the periodic settlement of some of the outstanding resident loans in the course of normal entrance-fee community operations, the balance owing on the Deed and Indenture at the date of our acquisition on January 31, 2020 had been reduced to $20,063,000 and was further reduced to $17,530,000 at June 30, 2020. By terms of the resident loan assumption agreement, during the term of the lease (7 years with two renewal options), Timber Ridge OpCo is to indemnify Timber Ridge PropCo for any repayment by Timber Ridge PropCo of these liabilities under the guarantee. NHI estimates that no material outflow of cash will result from Timber Ridge PropCo’s secondary obligation as guarantor under the resident mortgages. Accordingly, no liability was recorded on NHI’s books for the guarantee obligation upon acquisition and as of June 30, 2020. Timber Ridge OpCo meets the criteria to be considered a VIE. However, we are not the primary beneficiary of Timber Ridge OpCo as our participating rights do not give us the power to direct the activities that most significantly impact Timber Ridge OpCo’s economic performance. As a result, we report our investment in Timber Ridge OpCo under the equity method of accounting as prescribed by ASC Topic 970, Real Estate - General , Subtopic 323-30 Equity Method and Joint Ventures . Our equity share in the losses of Timber Ridge OpCo during the three months and six months ended June 30, 2020 was $848,000 and$1,290,000. Under the equity method, we decrease the carrying value of our investment for losses in the entity and distributions to NHI for cumulative amounts up to and including our basis plus any commitments to fund operations. As of June 30, 2020, we have recognized our share of Timber Ridge OpCo’s operating losses in excess of our initial investment. These cumulative losses in excess of our basis of $414,000 are included in accounts payable and accrued expenses in our Condensed Consolidated Balance Sheets. Our commitments are currently limited to an additional $5,000,000 under a revolving credit facility.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Instruments [Abstract]
Debt Disclosure	Debt Debt consists of the following ( in thousands ): June 30, December 31, Revolving credit facility - unsecured $ 413,000 $ 300,000 Bank term loans - unsecured 550,000 550,000 Private placement term loans - unsecured 400,000 400,000 HUD mortgage loans - secured, non-recourse 41,743 42,138 Fannie Mae term loans - secured, non-recourse 95,532 95,706 Convertible senior notes - unsecured 59,898 59,697 Unamortized loan costs (5,932) (7,076) $ 1,554,241 $ 1,440,465 The HUD loans are presented in the table above net of discounts of $1,198,000 and $1,238,000 as of June 30, 2020 and December 31, 2019, respectively. The Convertible Senior Notes are presented in the table above net of discounts of $102,000 and $303,000 as of June 30, 2020 and December 31, 2019, respectively. Aggregate principal maturities of debt as of June 30, 2020 are as follows ( in thousands ): Remainder of 2020 $ 621 2021 61,279 2022 664,328 2023 476,378 2024 76,429 2025 144,800 Thereafter 137,638 1,561,473 Less: discount (1,300) Less: unamortized loan costs (5,932) $ 1,554,241 Revolving credit facility and bank term loans - unsecured Our unsecured bank credit facility consists of $250,000,000 and $300,000,000 term loans and a $550,000,000 revolving credit facility. The $250,000,000 term loan and $550,000,000 revolving facility mature in August 2022, and the $300,000,000 term loan matures in September 2023. On March 22, 2019 and June 28, 2019, we entered into swap agreements to fix the interest rates on $340,000,000 of term loans and $60,000,000 of our revolving credit facility through December 2021, when LIBOR is scheduled for discontinuation. The revolving facility fee is currently 20 basis points per annum, and based on our current leverage ratios, the facility presently provides for floating interest on the revolver and the term loans at 30-day LIBOR plus 120 basis points and a blended 132 basis points, respectively. At June 30, 2020 and December 31, 2019, 30-day LIBOR was 16 basis points and 176 basis points, respectively. Through June 2020, the Company utilized $610 million in interest rate swaps, designated as cash flow hedges, to fix the variable interest rate on the amounts outstanding on our term loans and revolving credit facility. On June 29 and 30, 2020, $80 million and $130 million of these hedges expired. As of June 30, 2020, we had $563,000,000 of outstanding variable rate debt exposed to interest rate risk through December 2021, at which time our remaining hedges expire. Our swaps and the financial instruments to which they relate are described in the table below, under the caption “Interest Rate Swap Agreements.” At June 30, 2020, we had $137,000,000 available to draw on the revolving portion of our credit facility, subject to usual and customary covenants. Among other stipulations, the unsecured credit facility agreement requires that we maintain certain financial ratios within limits set by our creditors. At June 30, 2020, we were in compliance with these ratios. On July 9, 2020, we entered into a one-year $100,000,000 term loan bearing interest at 30-day LIBOR (with a 50 basis point floor) plus 185 basis points. The term loan provides us with the option to extend the maturity by one year subject to the payment of a 20 basis point extension fee. The term loan proceeds were used to reduce the outstanding balance on our revolving credit facility. 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. Private placement term loans - unsecured Our unsecured private placement term loans, payable interest-only, are summarized below ( $ in thousands ): Amount Inception Maturity Fixed Rate $ 125,000 January 2015 January 2023 3.99% 50,000 November 2015 November 2023 3.99% 75,000 September 2016 September 2024 3.93% 50,000 November 2015 November 2025 4.33% 100,000 January 2015 January 2027 4.51% $ 400,000 Except for specific debt-coverage ratios, covenants pertaining to the private placement term loans are generally conformed with those governing our credit facility. Our unsecured private placement term loan agreements include a rate increase provision that is effective if any rating agency lowers our credit rating on our senior unsecured debt below investment grade and our compliance leverage increases to 50% or more. HUD mortgage loans Our HUD mortgage loans are secured by ten properties leased to Bickford and have a net book value of $48,287,000 at June 30, 2020. Nine mortgage notes require monthly payments of principal and interest from 4.3% to 4.4% (inclusive of mortgage insurance premiums) and mature in August and October 2049. These nine HUD mortgage loans are subject to prepayment penalty until the third quarter of 2024. One additional HUD mortgage loan assumed in 2014, at a discount, requires monthly payments of principal and interest of 2.9% (inclusive of mortgage insurance premium) and matures in October 2047. As of June 30, 2020, the loan has an outstanding principal balance of $8,385,000 and a carrying value of $7,187,000, which approximates fair value. Fannie Mae term loans - secured, non-recourse 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. In a December 2017 acquisition, we assumed additional Fannie Mae debt that amortizes through 2025 when a balloon payment will be due, is subject to prepayment penalties until 2024, bears interest at a nominal rate of 4.60%, and has a remaining balance of $17,448,000 at June 30, 2020. All together, these notes are secured by facilities having a net book value of $132,042,000 at June 30, 2020. Convertible senior notes - unsecured In March 2014 we issued $200,000,000 of 3.25% senior unsecured convertible notes due April 2021 (the “Notes”) with interest payable April 1st and October 1st of each year. The Notes were convertible at an initial rate of 13.93 shares of common stock per $1,000 principal amount, representing a conversion price of approximately $71.81 per share for a total of approximately 2,785,200 underlying shares. The conversion rate is subsequently adjusted upon each occurrence of certain events, as defined in the indenture governing the Notes, including the payment of dividends at a rate exceeding that prevailing in 2014. The conversion option was accounted for as 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 in the calculation of earnings per diluted share. In December 2019, through the issuance of common stock and cash we retired $60,000,000 of our convertible notes. Settlement of the notes requires management to allocate the consideration we ultimately pay between the debt component and the equity conversion feature as though they were separate instruments. The allocation is effected by recording the fair value of the debt component first, with any remainder allocated to the conversion feature. Amounts expended to settle the notes are recognized first as a settlement of the notes at our carrying value and then are recognized in income to the extent the portion allocated to the debt instrument differs from carrying value. The remainder of the allocation, if any, is treated as settlement of equity and adjusted through our capital in excess of par account. As of June 30, 2020, our $60,000,000 of senior unsecured convertible notes were convertible at a rate of 14.80 shares of common stock per $1,000 principal amount, representing a conversion price of approximately $67.58 per share for a total of 887,856 shares on the remaining $60,000,000 of senior unsecured convertible notes. For the three and six months ended June 30, 2020, there was no dilution resulting from the conversion option within our convertible debt. If our current share price increases above the adjusted $67.58 conversion price, dilution may become attributable to the conversion feature. At June 30, 2020, the face amount of the convertible debt exceeded its value on conversion, when value on conversion was computed as if the debt were immediately eligible to convert. Interest Rate Swap Agreements Our existing interest rate swap agreements will collectively continue through December 2021 to hedge against fluctuations in variable interest rates applicable to $400,000,000 of our bank loans. On June 29 and 30, 2020, there were $210,000,000 notional amount of swaps that matured. During the next year, approximately $7,094,000 of losses, which are included in accumulated other comprehensive loss, are projected to be reclassified into earnings. Through June 30, 2020, we employed the following interest rate swap contracts to mitigate our interest rate risk on our bank term and revolver loans described above ( $ in thousands ): Date Entered Maturity Date Swap Rate Rate Index Notional Amount Fair Value (Liability) June 2013 June 2020 2.11% 1-month LIBOR $ 80,000 $ — March 2014 June 2020 2.16% 1-month LIBOR $ 130,000 $ — March 2019 December 2021 2.22% 1-month LIBOR $ 100,000 $ (3,143) March 2019 December 2021 2.21% 1-month LIBOR $ 100,000 $ (3,163) June 2019 December 2021 1.61% 1-month LIBOR $ 150,000 $ (3,316) June 2019 December 2021 1.63% 1-month LIBOR $ 50,000 $ (1,115) If the fair value of the hedge is an asset, we include it in our Condensed Consolidated Balance Sheets among other assets, and, if a liability, as a component of accounts payable and accrued expenses. See Note 11 for fair value disclosures about our interest rate swap agreements. Net liability balances for our hedges included as components of accounts payable and accrued expenses on June 30, 2020 and December 31, 2019, were $10,737,000 and $3,434,000, respectively. The following table summarizes interest expense ( in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Interest expense on debt at contractual rates $ 10,569 $ 13,355 $ 23,572 $ 26,429 Losses reclassified from accumulated other comprehensive income (loss) into interest expense 2,263 (350) 2,755 (641) Capitalized interest (19) (158) (117) (315) Amortization of debt issuance costs and debt discount 744 899 1,487 1,791 Total interest expense $ 13,557 $ 13,746 $ 27,697 $ 27,264

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	Commitments, Contingencies and Uncertainties In the normal course of business, we enter into a variety of commitments, typically consisting of 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 as of June 30, 2020 according to the nature of their impact on our leasehold or loan portfolios. ( $ in thousands ) Asset Class Type Total Funded Remaining Loan Commitments: LCS Sagewood Note A SHO Construction $ 118,800 $ (82,689) $ 36,111 LCS Sagewood Note B SHO Construction 61,200 (61,200) — Bickford Senior Living SHO Construction 42,900 (28,744) 14,156 Senior Living Communities SHO Revolving Credit 12,000 (10,996) 1,004 41 Management SHO Construction 10,800 (8,353) 2,447 Timber Ridge OpCo SHO Working Capital 5,000 — 5,000 Watermark Retirement SHO Working Capital 5,000 — 5,000 Discovery Senior Living SHO Working Capital 750 (475) 275 $ 256,450 $ (192,457) $ 63,993 As provided above, loans funded do not include the effects of discounts or commitment fees. Our loans and loan commitments to 41 Management, LLC (“41 Management”) represent a variable interest. 41 Management is structured to limit liability for potential claims for damages, is capitalized to achieve that purpose and is considered a VIE. On June 12, 2020, we provided a $5,000,000 loan commitment to Watermark Retirement to provide working capital liquidity in connection with the renewal of an existing lease on two continuing care retirement communities. The credit loss liability for unfunded loan commitments is estimated using the same methodology as for our funded mortgage and other notes receivable based on the estimated amount that we expect to fund. We applied the same COVID-19 adjustments as discussed in Note 4. The liability for expected credit losses on our unfunded loans is presented in the following table for the six months ended June 30, 2020 ( $ in thousands ): Beginning balance January 1, 2020 (upon adoption of ASU 2016-13) $ 325 Benefit to expected credit losses (94) Balance at June 30, 2020 $ 231 Asset Class Type Total Funded Remaining Development Commitments: Ignite Medical Resorts SNF Construction $ 25,350 $ (23,114) $ 2,236 Woodland Village SHO Renovation 7,515 (7,425) 90 Senior Living Communities SHO Renovation 9,930 (9,763) 167 Wingate Healthcare SHO Renovation 1,900 (818) 1,082 Discovery Senior Living SHO Renovation 900 (586) 314 Navion Senior Solutions SHO Construction 650 — 650 41 Management SHO Renovation 400 — 400 $ 46,645 $ (41,706) $ 4,939 In addition to the commitments listed above, Discovery PropCo has committed to Discovery for funding up to $2,000,000 toward the purchase of condominium units located at one of the facilities. As of June 30, 2020, we have funded $968,000 toward this commitment. On May 1, 2020, we completed development of a 144 unit skilled nursing facility located in Wisconsin which will be operated by Ignite Medical Resorts. As of June 30, 2020, we had $31,850,000 of contingent lease inducement commitments in six lease agreements which are generally based on the performance of facility operations and may or may not be met by the tenant. At June 30, 2020, we had funded $500,000 toward these commitments. COVID-19 Pandemic Contingencies The World Health Organization declared COVID-19 a pandemic on March 11, 2020. The continually evolving pandemic has resulted in a widespread health crisis adversely affecting governments, businesses, and financial markets. In response to the COVID-19 pandemic, many state, local and federal agencies instituted various health and safety measures including temporary closures of many businesses, “shelter in place” orders, and social distancing guidelines that remain in place to some degree. The COVID-19 pandemic and related health and safety measures have created a significant strain on the operations of many of our tenants, operators and borrowers. We have not granted any rent concessions to tenants as a result of the COVID-19 pandemic as of June 30, 2020. Effective July 1, 2020, we agreed to defer $2,100,000 in rent due for the third quarter of 2020 from Bickford with half of the deferral being escrowed with the Company. We have also executed a non-binding letter of intent with Bickford to negotiate the potential sale to Bickford, or to other third parties, of nine properties currently leased to Bickford at a price in excess of the Company’s gross book value of approximately $76,658,000 as of June 30, 2020. Rental income from this portfolio for the six months ended June 30, 2020 totaled $4,464,000, including $151,000 in straight-line rent. Bickford’s obligation to repay the deferred rent will be forgiven and the escrowed funds returned provided the transaction is closed no later than December 31, 2020. We will evaluate any rent deferral requests as a result of the COVID-19 pandemic on a tenant-by-tenant basis. The extent of future concessions we make as a result of the COVID-19 pandemic, which could have a material impact on our future operating results, cannot be reasonably or reliably projected by us at this time. We have evaluated the impacts of COVID-19 on our operations thus far and incorporated COVID-19 information, where possible, into our assessments of liquidity, asset impairments, and collectability of amounts due from tenants and borrowers as of June 30, 2020. The extent of the impact of COVID-19 on our financial condition, results of operations and cash flows, in the near term, will depend on future developments which are highly uncertain and cannot be predicted at this time. We will continue to monitor for any material or adverse effects resulting from the COVID-19 pandemic. 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 direct material adverse effect on our financial condition, results of operations or cash flows. In June 2018, East Lake Capital Management LLC and certain related entities, including Regency (for three assisted living facilities in Tennessee, Indiana and North Carolina), filed suit against NHI in Texas seeking injunctive and declaratory relief and unspecified monetary damages. NHI responded with counterclaims and filed motions requesting the immediate appointment of a receiver and for pre-judgment possession. Resulting from these claims and counterclaims, on December 6, 2018, the parties entered into an agreement resulting in Regency vacating the facilities in December 2018. Litigation is ongoing.

Equity

Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity Note Disclosure	Note 8. Equity and Dividends Additional Common Shares Authorized At our annual meeting on May 6, 2020, our stockholders approved an amendment to the Articles of Incorporation to increase the number of authorized common shares from 60,000,000 to 100,000,000. At-the-Market (ATM) Equity Program In March 2020 the Company entered into a new ATM equity offering sales agreement pursuant to which the Company may sell, from time to time, up to an aggregate sales price of $500,000,000 of the Company’s common shares through the ATM equity program. The Company terminated its previously existing ATM equity program, dated February 22, 2017, upon entering into the new agreement. No common stock has been issued under the ATM equity programs during the six months ended June 30, 2020 and 618,654 shares were issued during the six months ended June 30, 2019 for $47,999,000 in net proceeds. Dividends The following table summarizes dividends declared by the Board of Directors or paid during the six months ended June 30, 2020 and 2019: Six Months Ended June 30, 2020 Date of Declaration Date of Record Date Paid/Payable Quarterly Dividend November 7, 2019 December 31, 2019 January 31, 2020 $1.05 February 19, 2020 March 30, 2020 May 8, 2020 $1.1025 June 15, 2020 June 30, 2020 August 7, 2020 $1.1025 Six Months Ended June 30, 2019 Date of Declaration Date of Record Date Paid/Payable Quarterly Dividend December 17, 2018 December 28, 2018 January 31, 2019 $1.00 February 19, 2019 March 29, 2019 May 10, 2019 $1.05 May 7, 2019 June 28, 2019 August 9, 2019 $1.05

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Deferred Compensation Arrangements [Abstract]
Stock-Based Compensation	Note 9. Stock-Based Compensation We have two incentive plans – the 2012 Stock Incentive Plan (“2012 Plan”) and the 2019 Stock Incentive Plan (“2019” Plan”). As of June 30, 2020, shares available for future grants totaled 2,730,169. Stock options granted during 2020 under the 2012 Plan totaled 319,669. No shares remain available for issuance under the 2012 Plan. The following is a summary of stock-based compensation expense, net of forfeitures, included in General and administrative expenses in the Condensed Consolidated Statements of Income ( $ in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Non-cash stock-based compensation expense $ 470 $ 477 $ 2,315 $ 2,478 The weighted average fair value of options granted during the six months ended June 30, 2020 and 2019 was $5.57 and $6.17 per option, 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: 2020 2019 Dividend yield 5.1% 5.5% Expected volatility 17.1% 18.6% Expected lives 2.9 years 2.9 years Risk-free interest rate 1.30% 2.50% The following table summarizes our outstanding stock options: Weighted Average Number Weighted Average Remaining of Shares Exercise Price Contractual Life (Years) Options outstanding January 1, 2019 920,346 $69.24 Options granted 602,000 $79.96 Options exercised (367,830) $71.14 Options outstanding, June 30, 2019 1,154,516 $74.26 Exercisable at June 30, 2019 663,997 $73.64 Options outstanding January 1, 2020 1,004,014 $74.35 Options granted 592,000 $90.32 Options exercised (512,509) $72.98 Options forfeited (10,500) $88.73 Options outstanding, June 30, 2020 1,073,005 $83.68 3.95 Exercisable at June 30, 2020 601,994 $81.09 3.65 For options outstanding and exercisable at June 30, 2020, the exercise price exceeds the closing price of our common stock. The aggregate intrinsic value of stock options exercised during the six months ended June 30, 2020 and 2019 was $8,118,000 or $15.84 per share and $4,100,000 or $11.00 per share, respectively. As of June 30, 2020, unrecognized compensation expense totaling $1,703,000 associated with unvested stock options is expected to be recognized over the following periods: remainder of 2020 - $915,000, 2021 - $706,000 and 2022 - $82,000.

Earnings and Dividends Per Shar

Earnings and Dividends Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings 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, 2020 2019 2020 2019 Net income attributable to common stockholders $ 44,368 $ 39,979 $ 105,392 $ 75,658 BASIC: Weighted average common shares outstanding 44,650,002 43,232,384 44,631,797 43,029,104 DILUTED: Weighted average common shares outstanding 44,650,002 43,232,384 44,631,797 43,029,104 Stock options — 66,145 2,273 70,920 Convertible subordinated debentures — 199,492 — 211,503 Weighted average dilutive common shares outstanding 44,650,002 43,498,021 44,634,070 43,311,527 Net income attributable to common stockholders - basic $ 0.99 $ 0.92 $ 2.36 $ 1.76 Net income attributable to common stockholders - diluted $ 0.99 $ 0.92 $ 2.36 $ 1.75 Incremental anti-dilutive shares excluded: Net share effect of stock options with an exercise price in excess of the average market price for our common shares 610,367 40,173 439,962 21,227 Regular dividends declared per common share $ 1.1025 $ 1.05 $ 2.205 $ 2.10

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	6 Months Ended
	Jun. 30, 2020
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 include derivative financial instruments. Derivative financial instruments include our interest rate swap agreements. 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. Liabilities measured at fair value on a recurring basis are as follows (in thousands) : Fair Value Measurement Balance Sheet Classification June 30, December 31, 2019 Level 2 Interest rate swap liability Accounts payable and accrued expenses $ (10,737) $ (3,434) Carrying amounts and fair values of financial instruments that are not carried at fair value at June 30, 2020 and December 31, 2019 in the Condensed Consolidated Balance Sheets are as follows ( in thousands ): Carrying Amount Fair Value Measurement June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 Level 2 Variable rate debt $ 959,579 $ 845,744 $ 963,000 $ 850,000 Fixed rate debt $ 594,662 $ 594,721 $ 635,787 $ 602,926 Level 3 Mortgage and other notes receivable $ 300,130 $ 340,143 $ 333,415 $ 347,543 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. Mortgage and other notes receivable. 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. Carrying amounts of cash and cash equivalents and restricted cash, 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, 2020 and December 31, 2019, due to the predominance of floating interest rates, which generally reflect market conditions.

Significant Accounting Polici_2

Significant Accounting Policies (Policy)	6 Months Ended
	Jun. 30, 2020
Policy Text Block [Abstract]
Basis of Accounting, Policy	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements. In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring adjustments necessary for a fair presentation. Interim results of operations are not necessarily indicative of the results that may be achieved for a full year. The condensed consolidated financial statements and related notes do not include all information and footnotes required by GAAP for annual reports. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2019, included in our 2019 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”).
Consolidation, Policy	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries and subsidiaries in which we have a controlling interest. We also consolidate certain entities when control of such entities can be achieved through means other than voting rights (“variable interest entities” or “VIEs”) if the Company is deemed to be the primary beneficiary of such entities. All material intercompany transactions and balances are eliminated in consolidation. At June 30, 2020, we held interests in eight unconsolidated VIEs, and, because we lack either directly or through related parties the power to direct 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 either amortized cost or net realizable value for straight-line receivables, excluding Timber Ridge OpCo which is accounted for under the equity-method. NHI’s VIEs are summarized below by date of initial involvement. For further discussion of the nature of the relationships, including the sources of 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 Note Reference 2012 Bickford Senior Living Various 1 $ 60,708,000 $ 74,864,000 Notes 3, 4 2014 Senior Living Communities Notes and straight-line receivable $ 93,401,000 $ 97,404,000 Notes 3, 4 2016 Senior Living Management Notes and straight-line receivable $ 26,969,000 $ 26,969,000 — 2017 Evolve Senior Living Notes $ 9,958,000 $ 9,958,000 — 2018 Sagewood, LCS affiliate Notes $ 142,586,000 $ 178,697,000 Note 4 2019 41 Management, LLC Notes and straight-line receivable $ 12,868,000 $ 15,315,000 Note 7 2020 Timber Ridge OpCo Various 2 $ (414,000) $ 4,586,000 Notes 3, 5 2020 Watermark Retirement Notes and straight-line receivable $ 3,628,000 $ 8,628,000 Note 7 1 Notes, loan commitments, straight-line rent receivables, and unamortized lease incentives 2 Loan commitment, equity method investment and straight-line rent receivables 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. Economic loss on a lease, above what is presented in the table above, 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 to a new tenant. The potential extent of such loss will be dependent upon individual facts and circumstances, and is therefore not included in the tabulation above. We consolidate two real estate partnerships formed with our partners, Discovery Senior Housing Investor XXIV, LLC, (“Discovery”) and LCS Timber Ridge LLC (“LCS”) to invest in senior housing facilities. As of and for the six months ended June 30, 2020, our non-controlling interests relate to these partnerships with Discovery and LCS. We use the equity method of accounting when we own an interest in an entity whereby we can exert significant influence over but cannot control the entity’s operations. We discontinue equity method accounting if our investment in an entity (and net advances) is reduced to zero unless we have guaranteed obligations of the entity or are otherwise committed to provide further financial support for the entity.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents and Restricted Cash Cash equivalents consist of all highly liquid investments with an original maturity of three months or less. Restricted cash includes amounts required to be held on deposit with a qualified intermediary subject to an Internal Revenue Code §1031 exchange agreement or in accordance with agency agreements governing our Fannie Mae and U.S. Department of Housing and Urban Development (“HUD”) mortgages. The following table sets forth our cash, cash equivalents and restricted cash reported within the Company’s Condensed Consolidated Statements of Cash Flows (in thousands) : June 30, June 30, Cash and cash equivalents $ 46,853 $ 5,635 Restricted cash (included in Other assets) 18,565 10,903 $ 65,418 $ 16,538
New Accounting Pronouncements, Policy	New Accounting Pronouncements For information about significant accounting policies, refer to the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2019 included in the Company’s 2019 Annual Report on Form 10-K filed with the SEC. During the six months ended June 30, 2020, there were no material changes to these policies except as noted below. With the adoption of Accounting Standards Update 2016-13, Financial Instruments - Credit Losses effective January 1, 2020, we estimate and record an allowance for credit losses upon origination of the loan, based on expected credit losses over the term of the loan and update this estimate quarterly as of the balance sheet date. We calculate the estimated credit losses on mortgages by pooling these loans into two groups – investments in existing or new mortgages and construction mortgages. Mezzanine and revolving lines of credit are evaluated at the individual loan level. We estimate the allowance for credit losses by utilizing a loss model that relies on future expected credit losses, rather than incurred losses. This loss model incorporates our historical experience, adjusted for current conditions and our forecasts, using the probability of default and loss given default method. Incorporated into the construction mortgage loss model is an estimate of the probability that NHI will acquire the property. Using the resulting estimate, a portion of the outstanding construction mortgage balance which we currently expect will be reduced by our acquisition of the underlying property when construction is complete, is deducted from the construction mortgage balance included in the expected loss calculation. Mezzanine loans and revolving lines of credit are also based on the loss model to recognize expected future credit losses and are applied to each individual loan using borrower specific information. We also perform a qualitative assessment beyond model estimates and apply adjustments as necessary. The credit loss estimate is based on the net amortized cost balance of our mortgage and other notes receivables as of the balance sheet date. Calculation of the allowance for credit losses involves significant judgement. It is possible that actual credit losses will differ materially from our current estimates. Write-offs are deducted from the allowance for credit losses when we judge the principal to be uncollectable. Upon adoption, we recorded an allowance for expected credit losses of $3,900,000 that is reflected as an adjustment to Mortgage and other notes receivable, net, in the Condensed Consolidated Balance Sheets and recorded a corresponding cumulative-effect adjustment to cumulative dividends in excess of net income. Upon adoption, we also recorded a $325,000 liability for estimated credit losses pertaining to unfunded loan commitments as a cumulative dividends in excess of net income. The corresponding credit loss liability is included in the financial statement caption Accounts payable and accrued expenses in the Condensed Consolidated Balance Sheets. In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future London Inter-bank Offered Rate (”LIBOR”) indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of the coronavirus pandemic (“COVID-19”). Prior to issuance of the Lease Modification Q&A, we would determine, on a lease-by-lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A clarifies that entities may elect not to evaluate whether lease-related relief provided to mitigate the economic effects of COVID-19 is a lease modification under ASC 842. Instead, an entity that elects not to evaluate whether a concession directly related to COVID-19 is a modification can then elect whether to apply the modification guidance (i.e., assume relief was always contemplated by the contract or assume the relief was not contemplated by the contract), with such election applied consistently to leases with similar characteristics and similar circumstances. During the six months ended June 30, 2020, the Company did not provide any lease concessions as a result of COVID-19. If lease concessions related to the effects of COVID-19 become necessary, NHI has elected to account for those concessions which do not substantially increase either our rights as lessor or the obligations of the tenant consistent with how those concessions would be accounted for as though the enforceable rights and obligations for those concessions existed under our leases. The future impact of the Lease Modification Q&A is dependent upon the nature and extent of lease concessions granted to tenants as a result of COVID-19 in future periods and the elections made by the Company at the time of entering into such concessions.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of Variable Interest Entities [Table Text Block]	NHI’s VIEs are summarized below by date of initial involvement. For further discussion of the nature of the relationships, including the sources of 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 Note Reference 2012 Bickford Senior Living Various 1 $ 60,708,000 $ 74,864,000 Notes 3, 4 2014 Senior Living Communities Notes and straight-line receivable $ 93,401,000 $ 97,404,000 Notes 3, 4 2016 Senior Living Management Notes and straight-line receivable $ 26,969,000 $ 26,969,000 — 2017 Evolve Senior Living Notes $ 9,958,000 $ 9,958,000 — 2018 Sagewood, LCS affiliate Notes $ 142,586,000 $ 178,697,000 Note 4 2019 41 Management, LLC Notes and straight-line receivable $ 12,868,000 $ 15,315,000 Note 7 2020 Timber Ridge OpCo Various 2 $ (414,000) $ 4,586,000 Notes 3, 5 2020 Watermark Retirement Notes and straight-line receivable $ 3,628,000 $ 8,628,000 Note 7 1 Notes, loan commitments, straight-line rent receivables, and unamortized lease incentives 2 Loan commitment, equity method investment and straight-line rent receivables
Schedule of Cash, Cash Equivalents and Restricted Cash [Table Text Block]	The following table sets forth our cash, cash equivalents and restricted cash reported within the Company’s Condensed Consolidated Statements of Cash Flows (in thousands) : June 30, June 30, Cash and cash equivalents $ 46,853 $ 5,635 Restricted cash (included in Other assets) 18,565 10,903 $ 65,418 $ 16,538

Real Estate (Tables)

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2020
Real Estate [Abstract]
New Real Estate Investments [Table Text Block]	During the six months ended June 30, 2020 , we made the following real estate investments and related commitments ($ in thousands) : Operator Date Properties Asset Class Land Improvements Total Bickford Senior Living Q1 2020 1 SHO $ 1,588 $ 13,512 $ 15,100 Life Care Services Q1 2020 1 SHO 4,370 130,522 134,892 Autumn Trace Q2 2020 2 SHO 344 13,906 14,250 $ 6,302 $ 157,940 $ 164,242
Schedule of Tenant Concentrations	Tenant Concentration The following table contains information regarding tenant concentration in our portfolio, based on the percentage of revenues for the six months ended June 30, 2020 and 2019, related to tenants or affiliates of tenants, that exceed 10% of total revenue ( $ in thousands ): as of June 30, 2020 Revenues 2 Number of Real Notes Six Months Ended June 30, Properties Estate Receivable 1 2020 2019 Senior Living Communities 10 $ 573,631 $ 57,675 $ 26,140 16% $ 23,962 16% Holiday Retirement 26 531,378 — 20,353 12% 20,106 13% Bickford Senior Living 48 534,376 32,744 27,392 16% 26,122 17% National HealthCare 42 171,297 — 18,904 11% 19,209 12% All others 1,433,880 214,900 74,482 64,805 $ 3,244,562 $ 305,319 $ 167,271 $ 154,204 1 excludes estimated credit loss reserve of $5,189 2 includes interest income on notes receivable
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Future minimum base rents due under the remaining non-cancelable terms of operating leases in place as of June 30, 2020, are as follows ( in thousands ): Remainder of 2020 $ 141,225 2021 281,081 2022 285,478 2023 281,615 2024 274,075 2025 267,462 Thereafter 1,394,428 $ 2,925,364
Schedule of Fixed and Variable Lease Payments [Table Text Block]	The table below indicates the revenue recognized as a result of fixed and variable lease escalators ( in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Lease payments based on fixed escalators $ 69,669 $ 64,570 $ 138,103 $ 128,033 Lease payments based on variable escalators 1,400 1,195 2,764 2,366 Straight-line rent income 5,218 5,307 10,395 10,535 Escrow funds received from tenants 1,630 1,506 3,182 2,597 Rental income $ 77,917 $ 72,578 $ 154,444 $ 143,531

Mortgage And Other Notes Rece_2

Mortgage And Other Notes Receivable (Tables)	6 Months Ended
	Jun. 30, 2020
Mortgage and Other Notes Receivable [Abstract]
Financing Receivable Credit Quality Indicators	The credit quality indicator as of March 31, 2020, is presented below for the amortized cost, net by year of origination ( $ in thousands ): 2020 2019 2018 2017 2016 Prior Total Mortgages more than 1.5x $ 1,471 $ 8,268 $ 169,859 $ — $ — $ 6,989 $ 186,587 between 1.0x and 1.5x — 3,854 — — 10,000 — 13,854 below 1.0x 4,000 39,123 — 9,958 — — 53,081 No coverage available — — — — — — — 5,471 51,245 169,859 9,958 10,000 6,989 253,522 Mezzanine more than 1.5x — — — — — — — between 1.0x and 1.5x — — — — 14,472 — 14,472 below 1.0x — — — — 13,979 11,875 25,854 No coverage available — 475 — — — — 475 — 475 — — 28,451 11,875 40,801 Revolver more than 1.5x — between 1.0x and 1.5x 10,996 below 1.0x — 10,996 Credit loss reserve (5,189) $ 300,130
Schedule of Financing Receivable, Allowance for Credit Loss, Roll Forward	The allowance for expected credit losses for our commercial loans is presented in the following table for the six months ended June 30, 2020 ( $ in thousands ): Beginning balance January 1, 2020 (upon adoption of ASU 2016-13) $ 3,900 Provision for expected credit losses 1,289 Balance June 30, 2020 $ 5,189
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	At June 30, 2020, our construction loans to Bickford are summarized in the following table ($ in thousands) : Commencement Rate Maturity Commitment Drawn Location January 2018 9% 5 years $ 14,000 $ (13,377) Virginia July 2018 9% 5 years 14,700 (13,896) Michigan June 2020 9% 5 years 14,200 (1,471) Virginia $ 42,900 $ (28,744)

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Instruments [Abstract]
Schedule of Debt	Debt consists of the following ( in thousands ): June 30, December 31, Revolving credit facility - unsecured $ 413,000 $ 300,000 Bank term loans - unsecured 550,000 550,000 Private placement term loans - unsecured 400,000 400,000 HUD mortgage loans - secured, non-recourse 41,743 42,138 Fannie Mae term loans - secured, non-recourse 95,532 95,706 Convertible senior notes - unsecured 59,898 59,697 Unamortized loan costs (5,932) (7,076) $ 1,554,241 $ 1,440,465
Schedule of Maturities of Long-term Debt	Aggregate principal maturities of debt as of June 30, 2020 are as follows ( in thousands ): Remainder of 2020 $ 621 2021 61,279 2022 664,328 2023 476,378 2024 76,429 2025 144,800 Thereafter 137,638 1,561,473 Less: discount (1,300) Less: unamortized loan costs (5,932) $ 1,554,241
Schedule of Unsecured Term Loans	Our unsecured private placement term loans, payable interest-only, are summarized below ( $ in thousands ): Amount Inception Maturity Fixed Rate $ 125,000 January 2015 January 2023 3.99% 50,000 November 2015 November 2023 3.99% 75,000 September 2016 September 2024 3.93% 50,000 November 2015 November 2025 4.33% 100,000 January 2015 January 2027 4.51% $ 400,000
Schedule of Interest Rate Derivatives	June 30, 2020, we employed the following interest rate swap contracts to mitigate our interest rate risk on our bank term and revolver loans described above ( $ in thousands ): Date Entered Maturity Date Swap Rate Rate Index Notional Amount Fair Value (Liability) June 2013 June 2020 2.11% 1-month LIBOR $ 80,000 $ — March 2014 June 2020 2.16% 1-month LIBOR $ 130,000 $ — March 2019 December 2021 2.22% 1-month LIBOR $ 100,000 $ (3,143) March 2019 December 2021 2.21% 1-month LIBOR $ 100,000 $ (3,163) June 2019 December 2021 1.61% 1-month LIBOR $ 150,000 $ (3,316) June 2019 December 2021 1.63% 1-month LIBOR $ 50,000 $ (1,115)
Schedule of Interest Expense	The following table summarizes interest expense ( in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Interest expense on debt at contractual rates $ 10,569 $ 13,355 $ 23,572 $ 26,429 Losses reclassified from accumulated other comprehensive income (loss) into interest expense 2,263 (350) 2,755 (641) Capitalized interest (19) (158) (117) (315) Amortization of debt issuance costs and debt discount 744 899 1,487 1,791 Total interest expense $ 13,557 $ 13,746 $ 27,697 $ 27,264

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loan Commitments [Table Text Block]	The tables below summarize our existing, known commitments and contingencies as of June 30, 2020 according to the nature of their impact on our leasehold or loan portfolios. ( $ in thousands ) Asset Class Type Total Funded Remaining Loan Commitments: LCS Sagewood Note A SHO Construction $ 118,800 $ (82,689) $ 36,111 LCS Sagewood Note B SHO Construction 61,200 (61,200) — Bickford Senior Living SHO Construction 42,900 (28,744) 14,156 Senior Living Communities SHO Revolving Credit 12,000 (10,996) 1,004 41 Management SHO Construction 10,800 (8,353) 2,447 Timber Ridge OpCo SHO Working Capital 5,000 — 5,000 Watermark Retirement SHO Working Capital 5,000 — 5,000 Discovery Senior Living SHO Working Capital 750 (475) 275 $ 256,450 $ (192,457) $ 63,993 As provided above, loans funded do not include the effects of discounts or commitment fees. Our loans and loan commitments to 41 Management, LLC (“41 Management”) represent a variable interest. 41 Management is structured to limit liability for potential claims for damages, is capitalized to achieve that purpose and is considered a VIE. On June 12, 2020, we provided a $5,000,000 loan commitment to Watermark Retirement to provide working capital liquidity in connection with the renewal of an existing lease on two continuing care retirement communities.
Off Balance Sheet, Credit Loss, Liability, Roll Forward	The liability for expected credit losses on our unfunded loans is presented in the following table for the six months ended June 30, 2020 ( $ in thousands ): Beginning balance January 1, 2020 (upon adoption of ASU 2016-13) $ 325 Benefit to expected credit losses (94) Balance at June 30, 2020 $ 231
Schedule of Lease Commitments [Table Text Block]	Asset Class Type Total Funded Remaining Development Commitments: Ignite Medical Resorts SNF Construction $ 25,350 $ (23,114) $ 2,236 Woodland Village SHO Renovation 7,515 (7,425) 90 Senior Living Communities SHO Renovation 9,930 (9,763) 167 Wingate Healthcare SHO Renovation 1,900 (818) 1,082 Discovery Senior Living SHO Renovation 900 (586) 314 Navion Senior Solutions SHO Construction 650 — 650 41 Management SHO Renovation 400 — 400 $ 46,645 $ (41,706) $ 4,939

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Dividends Declared	The following table summarizes dividends declared by the Board of Directors or paid during the six months ended June 30, 2020 and 2019: Six Months Ended June 30, 2020 Date of Declaration Date of Record Date Paid/Payable Quarterly Dividend November 7, 2019 December 31, 2019 January 31, 2020 $1.05 February 19, 2020 March 30, 2020 May 8, 2020 $1.1025 June 15, 2020 June 30, 2020 August 7, 2020 $1.1025 Six Months Ended June 30, 2019 Date of Declaration Date of Record Date Paid/Payable Quarterly Dividend December 17, 2018 December 28, 2018 January 31, 2019 $1.00 February 19, 2019 March 29, 2019 May 10, 2019 $1.05 May 7, 2019 June 28, 2019 August 9, 2019 $1.05

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Deferred Compensation Arrangements [Abstract]
Share-based Payment Arrangement, Expensed and Capitalized, Amount	The following is a summary of stock-based compensation expense, net of forfeitures, included in General and administrative expenses in the Condensed Consolidated Statements of Income ( $ in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Non-cash stock-based compensation expense $ 470 $ 477 $ 2,315 $ 2,478
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: 2020 2019 Dividend yield 5.1% 5.5% Expected volatility 17.1% 18.6% Expected lives 2.9 years 2.9 years Risk-free interest rate 1.30% 2.50%
Schedule of Stock Option Activity	The following table summarizes our outstanding stock options: Weighted Average Number Weighted Average Remaining of Shares Exercise Price Contractual Life (Years) Options outstanding January 1, 2019 920,346 $69.24 Options granted 602,000 $79.96 Options exercised (367,830) $71.14 Options outstanding, June 30, 2019 1,154,516 $74.26 Exercisable at June 30, 2019 663,997 $73.64 Options outstanding January 1, 2020 1,004,014 $74.35 Options granted 592,000 $90.32 Options exercised (512,509) $72.98 Options forfeited (10,500) $88.73 Options outstanding, June 30, 2020 1,073,005 $83.68 3.95 Exercisable at June 30, 2020 601,994 $81.09 3.65

Earnings and Dividends Per Sh_2

Earnings and Dividends Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
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, 2020 2019 2020 2019 Net income attributable to common stockholders $ 44,368 $ 39,979 $ 105,392 $ 75,658 BASIC: Weighted average common shares outstanding 44,650,002 43,232,384 44,631,797 43,029,104 DILUTED: Weighted average common shares outstanding 44,650,002 43,232,384 44,631,797 43,029,104 Stock options — 66,145 2,273 70,920 Convertible subordinated debentures — 199,492 — 211,503 Weighted average dilutive common shares outstanding 44,650,002 43,498,021 44,634,070 43,311,527 Net income attributable to common stockholders - basic $ 0.99 $ 0.92 $ 2.36 $ 1.76 Net income attributable to common stockholders - diluted $ 0.99 $ 0.92 $ 2.36 $ 1.75 Incremental anti-dilutive shares excluded: Net share effect of stock options with an exercise price in excess of the average market price for our common shares 610,367 40,173 439,962 21,227 Regular dividends declared per common share $ 1.1025 $ 1.05 $ 2.205 $ 2.10

Fair Value Of Financial Instr_2

Fair Value Of Financial Instruments Fair Value Of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Of Financial Instruments [Abstract]
Schedule of Assets and Liabilities Measured on Recurring Basis	iabilities measured at fair value on a recurring basis are as follows (in thousands) : Fair Value Measurement Balance Sheet Classification June 30, December 31, 2019 Level 2 Interest rate swap liability Accounts payable and accrued expenses $ (10,737) $ (3,434)
Fair Value Measurements, Nonrecurring [Table Text Block]	Carrying amounts and fair values of financial instruments that are not carried at fair value at June 30, 2020 and December 31, 2019 in the Condensed Consolidated Balance Sheets are as follows ( in thousands ): Carrying Amount Fair Value Measurement June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 Level 2 Variable rate debt $ 959,579 $ 845,744 $ 963,000 $ 850,000 Fixed rate debt $ 594,662 $ 594,721 $ 635,787 $ 602,926 Level 3 Mortgage and other notes receivable $ 300,130 $ 340,143 $ 333,415 $ 347,543

Organization, Consolidation a_2

Organization, Consolidation and Presentation of Financial Statements (Details) - Jun. 30, 2020 $ in Thousands	USD ($)	properties	Total	beds_or_units
Real Estate Investment Property, Portfolio Assets | $	$ 3,244,562
Nonportfolio Assets, Original Cost | $	2,575
Number of Properties		227
Number of States in which Entity Operates			34
Number of Lessees			34
Number of health care properties related to mortgage notes receivables		16		16
Loans and Leases Receivable, Gross | $	305,319
Financing Receivable, Allowance for Credit Loss | $	$ 5,189
Senior Housing Community [Member]
Number of Properties		150
Skilled Nursing Facility [Member]
Number of Properties		72
Hospital [Member]
Number of Properties		3
Medical Office Building [Member]
Number of Properties		2

Significant Accounting Polici_4

Significant Accounting Policies (Schedule of Variable Interest Entities) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Assets	$ 3,166,971	$ 3,042,235
Straight-Line Rent Receivable [Member] | Bickford Senior Living [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	74,864
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(60,708)
Straight-Line Rent Receivable [Member] | Senior Living Communities [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	97,404
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(93,401)
Straight-Line Rent Receivable [Member] | Senior Living Management [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	26,969
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(26,969)
Notes Receivable [Member] | Evolve Senior Living [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	9,958
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(9,958)
Notes Receivable [Member] | LCS Sagewood [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	178,697
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(142,586)
Notes Receivable [Member] | 41 Management [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	15,315
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(12,868)
Notes Receivable [Member] | Timber Ridge OpCo
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	4,586
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(414)
Notes Receivable [Member] | Watermark Retirement [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	8,628
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	$ (3,628)

Significant Accounting Polici_5

Significant Accounting Policies Schedule of Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Schedule of Cash [Abstract]
Cash and cash equivalents	$ 46,853		$ 5,635
Restricted cash	18,565		10,903
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 65,418	$ 15,669	$ 16,538	$ 9,912

Significant Accounting Polici_6

Significant Accounting Policies (Details) $ in Thousands	Jun. 30, 2020USD ($)properties
Variable Interest Entity Number Of Entities Not Primary Beneficiary | properties	8
Financing Receivable, Allowance for Credit Loss	$ 5,189
Off-Balance Sheet, Credit Loss, Liability	231
Accounting Standards Update 2016-13 [Member]
Financing Receivable, Allowance for Credit Loss	3,900
Off-Balance Sheet, Credit Loss, Liability	$ 325

Real Estate (Schedule of New Re

Real Estate (Schedule of New Real Estate Investments) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)beds_or_unitsproperties	Dec. 31, 2019USD ($)
Number of Properties | properties	227
Land	$ 219,919	$ 213,617
Current Period Real Estate Acquisition
Real Estate Investments During The Period	164,242
Land	6,302
Buildings and Improvements, Gross	157,940
Bickford Senior Living [Member]
Real Estate Investments During The Period	$ 15,100
Number of Properties | properties	48
Bickford Senior Living [Member] | Current Period Real Estate Acquisition
Real Estate Investments During The Period	$ 15,100
Number of Properties | beds_or_units	1
Land	$ 1,588
Buildings and Improvements, Gross	13,512
LCS Timber Ridge [Member] | Current Period Real Estate Acquisition
Real Estate Investments During The Period	$ 134,892
Number of Properties | beds_or_units	1
Land	$ 4,370
Buildings and Improvements, Gross	130,522
Autumn Trace
Real Estate Investments During The Period	14,250
Autumn Trace | Current Period Real Estate Acquisition
Real Estate Investments During The Period	$ 14,250
Number of Properties | beds_or_units	2
Land	$ 344
Buildings and Improvements, Gross	$ 13,906

Real Estate (Schedule of Tenant

Real Estate (Schedule of Tenant Concentrations) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)properties	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)properties	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Number of Properties | properties	227		227
Property, Plant and Equipment, Gross	$ 3,247,138		$ 3,247,138		$ 3,074,846
Loans and Leases Receivable, Net Amount	300,130		300,130		$ 340,143
Operating Leases, Income Statement, Lease Revenue	77,917	$ 72,578	154,444	$ 143,531
Financing Receivable, Allowance for Credit Loss	$ 5,189		$ 5,189
Senior Living Communities [Member]
Number of Properties | properties	10		10
Property, Plant and Equipment, Gross	$ 573,631		$ 573,631
Loans and Leases Receivable, Net Amount	$ 57,675		57,675
Operating Leases, Income Statement, Lease Revenue			$ 26,140	$ 23,962
Percentage of Continuing Revenue			16.00%	16.00%
Holiday Acquisition Holdings [Member]
Number of Properties | properties	26		26
Property, Plant and Equipment, Gross	$ 531,378		$ 531,378
Loans and Leases Receivable, Net Amount	$ 0		0
Operating Leases, Income Statement, Lease Revenue			$ 20,353	$ 20,106
Percentage of Continuing Revenue			12.00%	13.00%
Bickford Senior Living [Member]
Number of Properties | properties	48		48
Property, Plant and Equipment, Gross	$ 534,376		$ 534,376
Loans and Leases Receivable, Net Amount	$ 32,744		32,744
Operating Leases, Income Statement, Lease Revenue			$ 27,392	$ 26,122
Percentage of Continuing Revenue			16.00%	17.00%
National Healthcare Corporation [Member]
Number of Properties | properties	42		42
Property, Plant and Equipment, Gross	$ 171,297		$ 171,297
Loans and Leases Receivable, Net Amount	0		0
Operating Leases, Income Statement, Lease Revenue			$ 18,904	$ 19,209
Percentage of Continuing Revenue			11.00%	12.00%
Less than 10% Operators [Member]
Property, Plant and Equipment, Gross	1,433,880		$ 1,433,880
Loans and Leases Receivable, Net Amount	$ 214,900		214,900
Operating Leases, Income Statement, Lease Revenue			$ 74,482	$ 64,805

Real Estate (Schedule of Future

Real Estate (Schedule of Future Minimum Lease Payments) (Details) $ in Thousands	Jun. 30, 2020USD ($)
Operating Leases, Future Minimum Payments Due, Rolling Maturity [Abstract]
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year	$ 141,225
Operating Leases, Future Minimum Payments Due, Next Twelve Months	281,081
Operating Leases, Future Minimum Payments, Due in Two Years	285,478
Operating Leases, Future Minimum Payments, Due in Three Years	281,615
Operating Leases, Future Minimum Payments, Due in Four Years	274,075
Operating Leases, Future Minimum Payments, Due in Five Years	267,462
Operating Leases, Future Minimum Payments, Due Thereafter	1,394,428
Operating Leases, Future Minimum Payments Due	$ 2,925,364

Real Estate (Schedule of Fixed

Real Estate (Schedule of Fixed and Variable Lease Payments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Operating Leases, Income Statement, Lease Revenue	$ 77,917	$ 72,578	$ 154,444	$ 143,531
Fixed Lease Escalation [Member]
Operating Leases, Income Statement, Lease Revenue	69,669	64,570	138,103	128,033
Variable Lease Escalation [Member]
Operating Leases, Income Statement, Lease Revenue	1,400	1,195	2,764	2,366
Straight Line Rent Income [Member]
Operating Leases, Income Statement, Lease Revenue	5,218	5,307	10,395	10,535
Escrow Funds Received From Tenants [Member]
Operating Leases, Income Statement, Lease Revenue	$ 1,630	$ 1,506	$ 3,182	$ 2,597

Real Estate (Narrative) (Detail

Real Estate (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)propertiesbeds_or_units	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)propertiesbeds_or_units	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Number of Real Estate Properties | properties	227		227
Number of States in which Entity Operates	34		34
Real Estate Investment Property, Portfolio Assets	$ 3,244,562		$ 3,244,562
Number of Lessees	34		34
Payments to Acquire Real Estate			$ 94,630	$ 200,632
Operating Leases, Income Statement, Lease Revenue	$ 77,917	$ 72,578	154,444	143,531
Loan and Lease Losses and Recoveries, Net	(380)	0	1,195	2,500
Contingent Funding Commitment	31,850		31,850
Property, Plant and Equipment, Net	$ 2,691,376		$ 2,691,376		$ 2,560,393
Lease Escalator Minimum	2.25%		2.25%
Gains (Losses) on Sales of Investment Real Estate	$ 0	0	$ 21,007	0
Loans and Leases Receivable, Gross	$ 305,319		$ 305,319
Revenue as % of Total, Exceeds 10% [Member]
Number of States in which Entity Operates | beds_or_units	1		1
Open Now [Member]
Number of Real Estate Properties | beds_or_units	2		2
Minimum Annual Lease Income			$ 8,715	9,216
Property, Plant and Equipment, Net	$ 11,784		$ 11,784
After 2021 [Member]
Number of Real Estate Properties | beds_or_units	12		12
Property, Plant and Equipment, Net	$ 120,808		$ 120,808
Bickford Senior Living [Member]
Number of Real Estate Properties | properties	48		48
Real Estate Investments During The Period			$ 15,100
Number of Units in Real Estate Property | beds_or_units	60		60
Lessor, Operating Lease, Term of Contract	12 years		12 years
Initial lease rate	8.00%		8.00%
Operating Leases, Income Statement, Lease Revenue			$ 27,392	$ 26,122
Percentage of Continuing Revenue			16.00%	17.00%
Proceeds from Sale and Collection of Notes Receivable			$ 14,091
Non-Performing Lease [Member]
Number of Real Estate Properties | beds_or_units	9		9
Operating Leases, Income Statement, Lease Revenue	$ 1,269	$ 506	$ 2,824	$ 1,208
Number of Operators/Tenants | beds_or_units	5		5
LCS Timber Ridge [Member]
Number of Units in Real Estate Property | beds_or_units	401		401
Lessor, Operating Lease, Term of Contract	7 years		7 years
Initial lease rate	6.75%		6.75%
Note Receivable Interest Rate	5.75%		5.75%
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 124,989		$ 124,989
Expected Proceeds Joint Venture			8,216
Timber Ridge OpCo
Contingent Funding Commitment	10,000		10,000
Quorum Health [Member]
Operating Leases, Income Statement, Lease Revenue			1,751
Loan and Lease Losses and Recoveries, Net			380
Property, Plant and Equipment, Net	$ 10,075		10,075
Autumn Trace
Real Estate Investments During The Period			$ 14,250
Number of Units in Real Estate Property | beds_or_units	44		44
Asset Purchase Transaction Costs			$ 150
Lessor, Operating Lease, Term of Contract	15 years		15 years
Initial lease rate	7.25%		7.25%
Lessee, Operating Lease, Renewal Term	5 years		5 years
Skilled Nursing Facility [Member]
Number of Real Estate Properties | properties	72		72
Skilled Nursing Facility [Member] | LCS Timber Ridge [Member]
Number of Units in Real Estate Property | beds_or_units	45		45
Assisted Living Facility [Member] | LCS Timber Ridge [Member]
Number of Units in Real Estate Property | beds_or_units	26		26
Independent Living Facility [Member] | LCS Timber Ridge [Member]
Number of Units in Real Estate Property | beds_or_units	330		330
Asset Held For Sale [Member] | Brookdale Senior Living [Member]
Number of Real Estate Properties | properties	8		8
Real Estate Property Company [Member] | Noncontrolling Interest [Member]
Noncash or Part Noncash Acquisition, Interest Acquired			20.00%
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 10,778		$ 10,778
Real Estate Property Company [Member] | LCS Timber Ridge [Member]
Noncash or Part Noncash Acquisition, Interest Acquired			80.00%
Real Estate Operating Company [Member] | Noncontrolling Interest [Member]
Noncash or Part Noncash Acquisition, Interest Acquired			75.00%
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	875		$ 875
Real Estate Operating Company [Member] | Controlling Interest [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	2,625		$ 2,625
Real Estate Operating Company [Member] | LCS Timber Ridge [Member]
Noncash or Part Noncash Acquisition, Interest Acquired			25.00%
Consideration Type, Existing Mortgage [Member] | LCS Timber Ridge [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	59,350		$ 59,350
Consideration Type, Additional Mortgage [Member] | LCS Timber Ridge [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	21,650		21,650
Consideration Type, Total Mortgage [Member] | LCS Timber Ridge [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	81,000		81,000
Consideration Type, Cash [Member] | LCS Timber Ridge [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 43,114		$ 43,114
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Bickford Senior Living [Member]
Number of Real Estate Properties | properties	2		2
Note Receivable Interest Rate	7.00%		7.00%
Write Off Of Straight Line Rent Receivable			$ 124
Loans and Leases Receivable, Gross	$ 4,000		4,000
Impairment of Real Estate			2,500
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Brookdale Senior Living [Member]
Operating Leases, Income Statement, Lease Revenue			229	$ 2,125
Purchase Option, Amount, Minimum	37,520		37,520
Real Estate Property, Fair Value, Purchase Option Calculation	$ 41,000		41,000
Proceeds from Sale of Real Estate			39,260
Gains (Losses) on Sales of Investment Real Estate			$ 20,752
ARIZONA | Asset Held For Sale [Member] | Brookdale Senior Living [Member]
Number of Real Estate Properties | properties	4		4
TENNESSEE | Asset Held For Sale [Member] | Brookdale Senior Living [Member]
Number of Real Estate Properties | properties	3		3
SOUTH CAROLINA
Percentage of Continuing Revenue			10.30%
SOUTH CAROLINA | Asset Held For Sale [Member] | Brookdale Senior Living [Member]
Number of Real Estate Properties | properties	1		1

Mortgage And Other Notes Rece_3

Mortgage And Other Notes Receivable (Schedule of Financing Receivables By Credit Quality Indicator) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	$ 305,319
Financing Receivable, Allowance for Credit Loss	5,189
Loans and Leases Receivable, Net Amount	300,130	$ 340,143
Mortgages [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	253,522
Mortgages [Member] | 2020 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	5,471
Mortgages [Member] | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	51,245
Mortgages [Member] | 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	169,859
Mortgages [Member] | 2017
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	9,958
Mortgages [Member] | 2016
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	10,000
Mortgages [Member] | Prior to 2016
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	6,989
Mortgages [Member] | EBITDARM Coverage above 1.5x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	186,587
Mortgages [Member] | EBITDARM Coverage above 1.5x | 2020 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	1,471
Mortgages [Member] | EBITDARM Coverage above 1.5x | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	8,268
Mortgages [Member] | EBITDARM Coverage above 1.5x | 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	169,859
Mortgages [Member] | EBITDARM Coverage above 1.5x | Prior to 2016
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	6,989
Mortgages [Member] | EBITDARM Coverage, 1.0x to 1.5x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	13,854
Mortgages [Member] | EBITDARM Coverage, 1.0x to 1.5x | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	3,854
Mortgages [Member] | EBITDARM Coverage, 1.0x to 1.5x | 2016
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	10,000
Mortgages [Member] | EBITDARM Coverage Below 1.0x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	53,081
Mortgages [Member] | EBITDARM Coverage Below 1.0x | 2020 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	4,000
Mortgages [Member] | EBITDARM Coverage Below 1.0x | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	39,123
Mortgages [Member] | EBITDARM Coverage Below 1.0x | 2017
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	9,958
Mezzanine
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	40,801
Mezzanine | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	475
Mezzanine | 2016
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	28,451
Mezzanine | Prior to 2016
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	11,875
Mezzanine | EBITDARM Coverage, 1.0x to 1.5x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	14,472
Mezzanine | EBITDARM Coverage, 1.0x to 1.5x | 2016
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	14,472
Mezzanine | EBITDARM Coverage Below 1.0x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	25,854
Mezzanine | EBITDARM Coverage Below 1.0x | 2016
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	13,979
Mezzanine | EBITDARM Coverage Below 1.0x | Prior to 2016
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	11,875
Mezzanine | EBITDARM Coverage Not Available
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	475
Mezzanine | EBITDARM Coverage Not Available | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	475
Revolving Credit Facility
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	10,996
Revolving Credit Facility | EBITDARM Coverage, 1.0x to 1.5x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	$ 10,996

Mortgage And Other Notes Rece_4

Mortgage And Other Notes Receivable (Schedule of Financing Receivables, Allowance for Credit Loss Roll Forward) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease)	$ 1,289
Financing Receivable, Allowance for Credit Loss, Ending Balance	5,189
Accounting Standards Update 2016-13 [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss, Ending Balance	$ 3,900

Mortgage And Other Notes Rece_5

Mortgage And Other Notes Receivable (Schedule of Bickford Construction Loans) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Loans and Leases Receivable, Commitments, Fixed Rates	$ 256,450,000
Loans and Leases Receivable, Net Amount	(300,130,000)	$ (340,143,000)
Bickford Note Investment [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	42,900,000
Loans and Leases Receivable, Net Amount	$ (28,744,000)
January 2018 [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	$ (13,377,000)
July 2018 [Member] | Bickford Note Investment [Member]
Note Receivable Interest Rate	9.00%
Loan Term	5 years
Loans and Leases Receivable, Commitments, Fixed Rates	$ 14,700,000
Loans and Leases Receivable, Net Amount	$ (13,896,000)
June 2020 | Bickford Note Investment [Member]
Note Receivable Interest Rate	9.00%
Loan Term	5 years
Loans and Leases Receivable, Commitments, Fixed Rates	$ 14,200,000
Loans and Leases Receivable, Net Amount	$ (1,471,000)

Mortgage And Other Notes Rece_6

Mortgage And Other Notes Receivable (Narrative) (Details)	6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2020beds_or_units	Jun. 30, 2020	Jun. 30, 2020properties	Dec. 31, 2019USD ($)
Loans and Leases Receivable, Net Amount		$ 300,130,000				$ 340,143,000
Number of health care properties related to mortgage notes receivables			16		16
Loans and Leases Receivable, Commitments, Fixed Rates	$ 256,450,000
Probability of Default, Increase, Current Conditions Adjustment				20.00%
Loss Given Default, Increase, Current Conditions Adjustment				20.00%
Estimated Credit Losses, Current Conditions Adjustment, Combined				44.00%
Interest Rate Swaps, Maturity Date, After June 2020 [Member]
Derivative, Notional Amount		400,000,000
Current Conditions Adjustment, COVID-19 Allowance Increase [Member]
Financing Receivable, Allowance for Credit Loss, Noncurrent		1,700,000
Current Conditions Adjustment, Portfolio Allowance Decrease [Member]
Financing Receivable, Allowance for Credit Loss, Noncurrent		411,000
Bickford Note Investment [Member]
Loans and Leases Receivable, Net Amount		28,744,000
Loans and Leases Receivable, Commitments, Fixed Rates	$ 42,900,000
Contingent Incentive Payments		2,000,000
LCS Sagewood [Member]
Notes Receivable, Total Borrowings, Master Credit Agreement		180,000,000
Notes Receivable, Number Of Loans, Master Credit Agreement				2
LCS Timber Ridge [Member]
Number of Units in Real Estate Property | beds_or_units			401
Lessor, Operating Lease, Term of Contract	7 years
Note Receivable Interest Rate				5.75%
Timber Ridge OpCo
Financing Receivable, Revolving		5,000,000
Senior Living Communities [Member]
Loans and Leases Receivable, Net Amount		57,675,000
Loans and Lease Receivable, Maximum Revolving Amount		12,000,000
Lessor, Operating Lease, Term of Contract	15 years
Revolving Note Receivable, Maximum Amount Available for Working Capital Purposes		10,000,000
Revolving Note Receivable, Amount Outstanding		(10,996,000)
Loans Receivable, Description of Variable Rate Basis, Reference Rate Maturity	10 years
Loans Receivable, Basis Spread on Variable Rate				6.00%
Number of Term Loans				2
Note Receivable Interest Rate				10.00%
Loans Receivable, Description, Variable Rate Basis, Reference Rate	6.66%
Not Secured By Real Estate [Member] | Senior Living Communities [Member]
Number of Units in Real Estate Property | beds_or_units			186
Note A [Member] | LCS Sagewood [Member]
Loans and Leases Receivable, Net Amount		82,689,000
Loans and Leases Receivable, Commitments, Fixed Rates	$ 118,800,000
Notes Receivable, Interest Rate, Master Credit Agreement				7.25%
Loan Term	10 years
Notes Receivable, Total Borrowings, Master Credit Agreement		118,800,000
Loans And Leases Receivable, Commitment, Fixed Rates, Escalator, Basis Points				10
Note Receivable, First Note Year For Rate Escalator	three years
Note Receivable, Prepayment Penalty, Rate				2.00%
Note Receivable, Prepayment Penalty, Rate Decrease				1.00%
Note A [Member] | Senior Living Communities [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	$ 12,000,000
Note B [Member] | LCS Sagewood [Member]
Loans and Leases Receivable, Net Amount		61,200,000
Loans and Leases Receivable, Commitments, Fixed Rates	$ 61,200,000
Notes Receivable, Interest Rate, Master Credit Agreement				8.50%
Loan Term	5 years
Notes Receivable, Total Borrowings, Master Credit Agreement		61,200,000
Note B [Member] | Senior Living Communities [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	$ 2,000,000
After 2021 [Member] | Senior Living Communities [Member]
Loans and Lease Receivable, Maximum Revolving Amount		7,000,000
Revolving Note Receivable, Maximum Amount Available for Working Capital Purposes		5,000,000
June 2020 | Bickford Note Investment [Member]
Loans and Leases Receivable, Net Amount		$ 1,471,000
Loans and Leases Receivable, Commitments, Fixed Rates	$ 14,200,000
Number of Units in Real Estate Property | beds_or_units			64
Loan Term	5 years
Note Receivable Interest Rate				9.00%

Equity Method Investment (Detai

Equity Method Investment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jan. 31, 2020
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 17,530		$ 17,530		$ 20,063
Income (Loss) from Equity Method Investments	(848)	$ 0	(1,290)	$ 0
Equity Method Investments	(414)		(414)
Noncontrolling Interest [Member] | Real Estate Operating Company [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	875		$ 875
Noncash or Part Noncash Acquisition, Interest Acquired			75.00%
Timber Ridge OpCo
Financing Receivable, Revolving	5,000		$ 5,000
LCS Timber Ridge [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 124,989		$ 124,989
LCS Timber Ridge [Member] | Real Estate Operating Company [Member]
Noncash or Part Noncash Acquisition, Interest Acquired			25.00%

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Revolving credit facility - unsecured	$ 413,000	$ 300,000
Bank term loans - unsecured	400,000
Convertible senior notes - unsecured	59,898	59,697
Unamortized loan costs	(5,932)	(7,076)
Debt, Long-term and Short-term, Combined Amount	1,554,241	1,440,465
Bank Term Loans [Member]
Debt Instrument [Line Items]
Bank term loans - unsecured	$ 550,000	550,000
Debt Instrument, Basis Spread on Variable Rate	13200.00%
Private Placement Term Loans [Member]
Debt Instrument [Line Items]
Bank term loans - unsecured	$ 400,000	400,000
Debt Instrument, Name, HUD Mortgages [Member]
Debt Instrument [Line Items]
Secured Debt	41,743	42,138
Debt Instrument, Name, Fannie Mae Term Loans [Member]
Debt Instrument [Line Items]
Secured Debt	95,532	$ 95,706
Variable Interest Rate Debt [Member]
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 563,000

Debt (Schedule of Debt) (Captio

Debt (Schedule of Debt) (Captions) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	$ (1,300)
Debt Instrument, Name, Q3 2014 HUD Mortgages [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	(1,198)	$ (1,238)
Debt Instrument, Name, Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	$ (102)	$ (303)

Debt (Schedule of Maturities of

Debt (Schedule of Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Long-term Debt, Fiscal Year Maturity [Abstract]
Long-Term Debt, Maturity, Remainder of Fiscal Year	$ 621
Long-term Debt, Maturities, Repayments of Principal in Next Rolling Twelve Months	61,279
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two	664,328
Long-term Debt, Maturities, Repayments of Principal in Next Rolling Year Three	476,378
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four	76,429
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five	144,800
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five	137,638
Long-term Debt, Gross	1,561,473
Debt Instrument, Unamortized Discount	(1,300)
Unamortized loan costs	(5,932)	$ (7,076)
Debt	$ 1,554,241	$ 1,440,465

Debt (Schedule of Unsecured Ter

Debt (Schedule of Unsecured Term Loans) (Details) $ in Thousands	Jun. 30, 2020USD ($)
Unsecured Debt	$ 400,000
January 2023 [Member]
Unsecured Debt	$ 125,000
Debt Instrument, Interest Rate, Stated Percentage	3.99%
November 2023 [Member]
Unsecured Debt	$ 50,000
Debt Instrument, Interest Rate, Stated Percentage	3.99%
September 2024 [Member]
Unsecured Debt	$ 75,000
Debt Instrument, Interest Rate, Stated Percentage	3.93%
November 2025 [Member]
Unsecured Debt	$ 50,000
Debt Instrument, Interest Rate, Stated Percentage	4.33%
January 2027 [Member]
Unsecured Debt	$ 100,000
Debt Instrument, Interest Rate, Stated Percentage	4.51%

Debt (Schedule of Interest Rate

Debt (Schedule of Interest Rate Derivatives) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Interest Rate Swap, Date Entered, June 2013 [Member]
Derivative [Line Items]
Derivative, Fixed Interest Rate	2.11%
Debt Instrument, Description of Variable Rate Basis	1-month LIBOR
Derivative, Notional Amount	$ 80,000
Interest Rate Derivative Liabilities, at Fair Value	$ 0
Interest Rate Swap, Date Entered, March 2014 [Member]
Derivative [Line Items]
Derivative, Fixed Interest Rate	2.16%
Debt Instrument, Description of Variable Rate Basis	1-month LIBOR
Derivative, Notional Amount	$ 130,000
Interest Rate Derivative Liabilities, at Fair Value	$ 0
Interest Rate Swap, Date Entered, March 2019 - 2.22%
Derivative [Line Items]
Derivative, Fixed Interest Rate	2.22%
Debt Instrument, Description of Variable Rate Basis	1-month LIBOR
Derivative, Notional Amount	$ 100,000
Interest Rate Derivative Liabilities, at Fair Value	$ (3,143)
Interest Rate Swap, Date Entered, March 2019 - 2.21%
Derivative [Line Items]
Derivative, Fixed Interest Rate	2.21%
Debt Instrument, Description of Variable Rate Basis	1-month LIBOR
Derivative, Notional Amount	$ 100,000
Interest Rate Derivative Liabilities, at Fair Value	$ (3,163)
Interest Rate Swap, Date Entered, June 2019 - 1.61%
Derivative [Line Items]
Derivative, Fixed Interest Rate	1.61%
Debt Instrument, Description of Variable Rate Basis	1-month LIBOR
Derivative, Notional Amount	$ 150,000
Interest Rate Derivative Liabilities, at Fair Value	$ (3,316)
Interest Rate Swap, Date Entered, June 2019 - 1.63%
Derivative [Line Items]
Derivative, Fixed Interest Rate	1.63%
Debt Instrument, Description of Variable Rate Basis	1-month LIBOR
Derivative, Notional Amount	$ 50,000
Interest Rate Derivative Liabilities, at Fair Value	$ (1,115)

Debt (Schedule of Interest Expe

Debt (Schedule of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of Interest Expense [Abstract]
Interest expense on debt at contractual rates	$ 10,569	$ 13,355	$ 23,572	$ 26,429
Losses reclassified from accumulated other comprehensive income (loss) into interest expense	2,263	350	2,755	641
Capitalized interest	(19)	(158)	(117)	(315)
Amortization of debt issuance costs and debt discount	744	899	1,487	1,791
Total Interest Expense	$ 13,557	$ 13,746	$ 27,697	$ 27,264

Debt (Narrative) (Details)

Debt (Narrative) (Details)	Jul. 09, 2020USD ($)	Jun. 30, 2020USD ($)number_of_loanspropertiesshares$ / shares	Dec. 31, 2019USD ($)
Debt Leverage Limit, Coupon Change, Trigger		50.00%
Credit Facility, Current Revolving Borrowing Capacity		$ 550,000,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		2000.00%
Debt Instrument, Variable Rate Basis, Minimum		1600.00%	17600.00%
Number of Real Estate Properties | properties		227
Debt Instrument, Convertible, Conversion Ratio		14.80
Debt Instrument, Convertible, Conversion Price | $ / shares		$ 67.58
Debt Instrument, Convertible, Number of Equity Instruments | shares		887,856
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		$ 7,094,000
Derivative, Fair Value, Net			$ (3,434,000)
Convertible Debt		59,898,000	$ 59,697,000
Allocated to Debt [Member]
Repayments of Convertible Debt		60,000,000
$250M Term Loan [Member]
Term Loans, Outstanding Balance		250,000,000
$300M Term Loan [Member]
Term Loans, Outstanding Balance		$ 300,000,000
Debt Instrument, Name, Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate		12000.00%
Unused balance of the unsecured revolving credit facility		$ 137,000,000
Bank Term Loans [Member]
Debt Instrument, Basis Spread on Variable Rate		13200.00%
Debt Instrument, Name, HUD Mortgages [Member]
Number of Real Estate Properties | properties		10
Net Book Value of Real Estate Pledged Toward Mortgage		$ 48,287,000
Debt Instrument, Name, HUD Mortgages [Member] | Minimum [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate		4.30%
Debt Instrument, Name, HUD Mortgages [Member] | Maximum [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate		4.40%
Debt Instrument, HUD Mortgages, 2049 Maturity [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Number of Loans | number_of_loans		9
Debt Instrument, HUD Mortgages, 2047 Maturity [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Number of Loans | number_of_loans		1
Debt Instrument, Name, Fannie Mae Term Loans [Member]
Number of Real Estate Properties		13
Net Book Value of Real Estate Pledged Toward Mortgage		$ 132,042,000
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages		$ 78,084,000
Debt Instrument, Interest Rate, Stated Percentage		3.79%
Debt Instrument, Term		10 years
FNMA Berkadia Note [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages		$ 17,448,000
Debt Instrument, Interest Rate, Stated Percentage		4.60%
At Inception [Member]
Proceeds from convertible senior notes		$ 200,000,000
Debt Instrument, Convertible, Conversion Ratio		13.93
Debt Instrument, Convertible, Conversion Price | $ / shares		$ 71.81
Debt Instrument, Convertible, Number of Equity Instruments | shares		2,785,200
Debt Instrument, Name, Convertible Senior Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		3.25%
Convertible Debt Instrument, Conversion Ratio, Principal Amount, Basis		$ 1,000
Principal Amount [Member]
Convertible Debt		$ 60,000,000
$100M Term Loan [Member] | Subsequent Event [Member]
Term Loans, Outstanding Balance	$ 100,000,000
Debt Instrument, Basis Spread on Variable Rate	18500.00%
Debt Instrument, Variable Rate Basis, Minimum	5000.00%
Debt Instrument, Maturity, Renewal Fee	20
Bickford Senior Living [Member]
Number of Real Estate Properties | properties		48
Middletown, OH [Member] | Bickford Senior Living [Member]
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Rate		2.90%
Noncash or Part Noncash Acquisition, Debt Assumed		$ 8,385,000
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed		7,187,000
Interest Rate Swap(s), Date Entered, March & June 2019 [Member] | Debt Instrument, Name, Revolving Credit Facility [Member]
Derivative, Notional Amount		60,000,000
Interest Rate Swap(s), Date Entered, March & June 2019 [Member] | Bank Term Loans [Member]
Derivative, Notional Amount		340,000,000
Interest Rate Swap, Date Entered, June 2013 [Member]
Derivative, Notional Amount		80,000,000
Interest Rate Swap, Date Entered, March 2014 [Member]
Derivative, Notional Amount		130,000,000
Interest Rate Swaps, Maturity Date, After June 2020 [Member]
Derivative, Notional Amount		400,000,000
Interest rate swaps, Matured June 2020 [Member]
Derivative, Notional Amount		$ 210,000,000

Commitments and Contingencies_2

Commitments and Contingencies (Schedule of Loan Commitments) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Loans and Leases Receivable, Commitments, Fixed Rates	$ 256,450,000
Loans and Leases Receivable, Net Amount	(300,130,000)	$ (340,143,000)
Notes Receivable Funding Commitment	63,993,000
$300M Term Loan [Member]
Term Loans, Outstanding Balance	300,000,000
Bickford Senior Living [Member]
Loans and Leases Receivable, Net Amount	(32,744,000)
Senior Living Communities [Member]
Loans and Leases Receivable, Net Amount	(57,675,000)
Note A [Member] | LCS Sagewood [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	118,800,000
Loans and Leases Receivable, Net Amount	(82,689,000)
Notes Receivable Funding Commitment	36,111,000
Note A [Member] | Senior Living Communities [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	12,000,000
Note B [Member] | LCS Sagewood [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	61,200,000
Loans and Leases Receivable, Net Amount	(61,200,000)
Notes Receivable Funding Commitment	0
Note B [Member] | Senior Living Communities [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	2,000,000
Development Commitment [Member] | Bickford Senior Living [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	42,900,000
Loans and Leases Receivable, Net Amount	(28,744,000)
Notes Receivable Funding Commitment	14,156,000
Revolving Credit Facility [Member] | Senior Living Communities [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	12,000,000
Loans and Leases Receivable, Net Amount	(10,996,000)
Notes Receivable Funding Commitment	1,004,000
Notes Receivable Remain Unfunded [Member]
Loans and Leases Receivable, Net Amount	(192,457,000)
Working Capital | 41 Management [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	10,800,000
Loans and Leases Receivable, Net Amount	(8,353,000)
Notes Receivable Funding Commitment	2,447,000
Working Capital | Timber Ridge OpCo
Loans and Leases Receivable, Commitments, Fixed Rates	5,000,000
Loans and Leases Receivable, Net Amount	0
Notes Receivable Funding Commitment	5,000,000
Working Capital | Watermark Retirement [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	5,000,000
Loans and Leases Receivable, Net Amount	0
Notes Receivable Funding Commitment	5,000,000
Working Capital | Discovery Senior Living [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	750,000
Loans and Leases Receivable, Net Amount	(475,000)
Notes Receivable Funding Commitment	$ 275,000

Commitments And Contingencies_3

Commitments And Contingencies (Off Balance Sheet Credit Loss Liability Roll Forward Schedule) (Details)	6 Months Ended
	Jun. 30, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal)	$ (94,000)
Off-Balance Sheet, Credit Loss, Liability, Ending Balance	$ 231,000

Commitments and Contingencies_4

Commitments and Contingencies (Schedule of Lease Commitments) (Details)	Jun. 30, 2020USD ($)
Maximum Commitment For All Active Development Projects	$ 46,645,000
Development in Process	(41,706,000)
Remaining Unfunded Development Commitment	4,939,000
Development Commitment [Member] | Ignite Medical Resorts [Member]
Maximum Commitment For All Active Development Projects	25,350,000
Development in Process	(23,114,000)
Remaining Unfunded Development Commitment	2,236,000
Development Commitment [Member] | Navion Senior Solutions [Member]
Maximum Commitment For All Active Development Projects	650,000
Development in Process	0
Remaining Unfunded Development Commitment	650,000
Capital Improvement Commitment [Member] | Woodland Village [Member]
Maximum Commitment For All Active Development Projects	7,515,000
Development in Process	(7,425,000)
Remaining Unfunded Development Commitment	90,000
Capital Improvement Commitment [Member] | Senior Living Communities [Member]
Maximum Commitment For All Active Development Projects	9,930,000
Development in Process	(9,763,000)
Remaining Unfunded Development Commitment	167,000
Capital Improvement Commitment [Member] | Wingate Healthcare [Member]
Maximum Commitment For All Active Development Projects	1,900,000
Development in Process	(818,000)
Remaining Unfunded Development Commitment	1,082,000
Capital Improvement Commitment [Member] | Discovery Senior Living [Member]
Maximum Commitment For All Active Development Projects	900,000
Development in Process	(586,000)
Remaining Unfunded Development Commitment	314,000
Capital Improvement Commitment [Member] | 41 Management [Member]
Maximum Commitment For All Active Development Projects	400,000
Development in Process	0
Remaining Unfunded Development Commitment	$ 400,000

Commitments And Contingencies_5

Commitments And Contingencies (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 30, 2020USD ($)beds_or_unitsproperties	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)beds_or_unitsproperties	Jun. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Maximum Commitment For All Active Development Projects	$ 46,645		$ 46,645
Development in Process	41,706		41,706
Contingent Funding Commitment	$ 31,850		$ 31,850
Number of Properties | properties	227		227
Property, Plant and Equipment, Gross	$ 3,247,138		$ 3,247,138			$ 3,074,846
Operating Leases, Income Statement, Lease Revenue	(77,917)	$ (72,578)	(154,444)	$ (143,531)
Straight Line Rent			10,395	10,535
Debt	1,554,241		1,554,241			$ 1,440,465
Timber Ridge OpCo
Contingent Funding Commitment	10,000		10,000
Discovery PropCo [Member]
Maximum Commitment For All Active Development Projects	$ 2,000		$ 2,000
Ignite Medical Resorts [Member]
Number of Units in Real Estate Property | beds_or_units	144		144
Bickford Senior Living [Member]
Number of Units in Real Estate Property | beds_or_units	60		60
Number of Properties | properties	48		48
Property, Plant and Equipment, Gross	$ 534,376		$ 534,376
Operating Leases, Income Statement, Lease Revenue			$ (27,392)	(26,122)
Bickford Senior Living [Member] | Subsequent Event [Member] | Lease Payment Deferral [Member]
Operating Lease, Lease Income					$ 2,100
Senior Living Communities [Member]
Number of Properties | properties	10		10
Property, Plant and Equipment, Gross	$ 573,631		$ 573,631
Operating Leases, Income Statement, Lease Revenue			(26,140)	$ (23,962)
Development Commitment [Member] | Discovery PropCo [Member]
Development in Process	968		968
Development Commitment [Member] | Ignite Medical Resorts [Member]
Maximum Commitment For All Active Development Projects	25,350		25,350
Development in Process	$ 23,114		$ 23,114
Lease Inducement [Member]
Number of Properties | beds_or_units	6		6
Contingent Funding Commitment, Amount Funded	$ 500		$ 500
Disposal Group, To Be Sold, Not Discontinued Operations [Member] | Bickford Senior Living [Member]
Property, Plant and Equipment, Gross	$ 76,658		76,658
Operating Leases, Income Statement, Lease Revenue			(4,464)
Straight Line Rent			$ 151

Equity (Schedule of Dividends D

Equity (Schedule of Dividends Declared) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Declared November 7, 2019
Common Stock Dividends, Per Share, Declared, Regular	$ 1.05
Declared February 19, 2020
Common Stock Dividends, Per Share, Declared, Regular	1.1025
Declared June 15, 2020
Common Stock Dividends, Per Share, Declared, Regular	$ 1.1025
Declared December 17, 2018
Common Stock Dividends, Per Share, Declared, Regular		$ 1
Declared February 19, 2019
Common Stock Dividends, Per Share, Declared, Regular		1.05
Declared May 7, 2019
Common Stock Dividends, Per Share, Declared, Regular		$ 1.05

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Common stock, shares authorized	100,000,000				100,000,000		60,000,000
At-The Market Shelf Registration, Equity Offering Sales Agreement, Aggregate Sales Price	$ 500,000				$ 500,000
Stock Issued During Period, Shares, New Issues				462,925	0	618,654
Stock Issued During Period, Value, New Issues	$ 206	$ 85	$ 11,942	$ 35,913
Authorized Shares, Prior to Charter Amendment [Member]
Common stock, shares authorized	60,000,000				60,000,000
Authorized Shares, After Charter Amendment [Member]
Common stock, shares authorized	100,000,000				100,000,000
Gross ATM Proceeds [Member]
Stock Issued During Period, Value, New Issues						$ 47,999

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of Share-Based Payments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-based compensation	$ 470	$ 477	$ 2,315	$ 2,478

Stock-Based Compensation (Sch_2

Stock-Based Compensation (Schedule of Stock Option Valuation Assumptions) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Schedule of Stock Option Valuation Assumptions [Abstract]
Dividend yield	5.10%	5.50%
Expected volatility	17.10%	18.60%
Expected lives	2 years 10 months 24 days	2 years 10 months 24 days
Risk-free interest rate	1.30%	2.50%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 5.57	$ 6.17

Stock-Based Compensation (Sch_3

Stock-Based Compensation (Schedule Of Stock Option Activity) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Options outstanding January 1,	1,004,014	920,346
Options granted under 2012 Plan	592,000
Options exercised under 2012 Plan	(512,509)
Options forfeited under 2012 Plan	(10,500)
Options outstanding, June 30,	1,073,005	1,154,516
Exercisable at June 30,	601,994	663,997
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 83.68	$ 74.26	$ 74.35	$ 69.24
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	90.32	79.96
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	72.98	71.14
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price	88.73
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 81.09	$ 73.64
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 11 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 7 months 24 days
2012 Plan [Member]
Options granted under 2012 Plan	319,669	602,000
Options exercised under 2012 Plan		(367,830)

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Shares available for grants	2,730,169
Options granted under 2012 Plan	592,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 5.57	$ 6.17
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 8,118	$ 4,100
Aggregate Intrinsic Value Per Share Options Exercised	$ 15.84	$ 11
Unrecognized compensation cost	$ 1,703
2012 Plan [Member]
Options granted under 2012 Plan	319,669	602,000
Expected To Be Recognized During 2021 [Member]
Unrecognized compensation cost	$ 706
Expected To Be Recognized During 2022 [Member]
Unrecognized compensation cost	82
Expected To Be Recognized Remainder of 2020 [Member]
Unrecognized compensation cost	$ 915

Earnings and Dividends Per Sh_3

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, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income (loss) attributable to common stockholders	$ 44,368		$ 39,979		$ 105,392	$ 75,658
BASIC:
Weighted average common shares outstanding	44,650,002		43,232,384		44,631,797	43,029,104
Net income per common share - basic	$ 0.99		$ 0.92		$ 2.36	$ 1.76
DILUTED:
Weighted average common shares outstanding	44,650,002		43,232,384		44,631,797	43,029,104
Stock options	0		66,145		2,273	70,920
Convertible subordinated debentures	0		199,492		0	211,503
Weighed average dilutive common shares outstanding	44,650,002		43,498,021		44,634,070	43,311,527
Net income per common share - diluted	$ 0.99		$ 0.92		$ 2.36	$ 1.75
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	610,367		40,173		439,962	21,227
Common Stock, Dividends, Per Share, Declared	$ 1.1025	$ 1.1025	$ 1.05	$ 1.05	$ 2.205	$ 2.10

Fair Value Of Financial Instr_3

Fair Value Of Financial Instruments (Schedule Of Assets And Liabilities Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Inputs, Level 2 [Member]
Interest rate swap liability	$ (10,737)	$ (3,434)

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Fair Value Measurements, Nonrecurring) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and Leases Receivable, Net Amount	$ 300,130	$ 340,143
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and Leases Receivable, Net Amount	300,130	340,143
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and Leases Receivable, Net Amount	333,415	347,543
Variable Interest Rate Debt [Member] | Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	959,579	845,744
Variable Interest Rate Debt [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	963,000	850,000
Fixed Interest Rate Debt [Member] | Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	594,662	594,721
Fixed Interest Rate Debt [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 635,787	$ 602,926

Uncategorized Items - nhi-20200

Label	Element	Value
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	$ 10,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	1,006,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	2,705,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,227,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,226,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	45,525,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	45,359,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	2,001,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	477,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	1,845,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	470,000
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	382,000
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	16,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	1,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	1,000
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	$ 10,791,000
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	35,982
AOCI Attributable to Parent [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	$ 1,396,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	(3,801,000)
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	(8,699,000)
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	(957,000)
Parent [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	45,764,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	36,178,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	34,722,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	52,324,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	(1,006,000)
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	(2,705,000)
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	(10,000)
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	45,525,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,227,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,226,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	45,359,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	477,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	2,001,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	1,845,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	470,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	206,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	35,913,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	85,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	11,942,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	1,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	1,000
Noncontrolling Interest [Member]
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	0
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	39,000
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	57,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	0
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	0
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	(382,000)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	(16,000)
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	0
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	10,791,000
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	(1,000)
Retained Earnings, Appropriated [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	35,679,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	61,023,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	39,979,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	44,368,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	45,525,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,226,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,227,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	45,359,000
Additional Paid-in Capital [Member]
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	(10,000)
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	(1,006,000)
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	(2,705,000)
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	477,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	470,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	1,845,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	2,001,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	206,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	35,908,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	85,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	11,940,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	2,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	1,000
Common Stock [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	2,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	5,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	$ 1,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	155,729
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	1,971
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	62,516