National Health Investors (NHI) 10-Q 9 Aug 21 2021 FY Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 02, 2021
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
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		45,850,599
Amendment Flag	false
Document Fiscal Year Focus	2021
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, 2021	Dec. 31, 2020
Assets:
Land	$ 212,609	$ 220,361
Buildings and improvements	3,024,923	3,041,616
Construction in progress	4,167	3,093
Real estate properties, gross	3,241,699	3,265,070
Less accumulated depreciation	(622,943)	(597,638)
Real estate properties, net	2,618,756	2,667,432
Mortgage and other notes receivable, net	284,177	292,427
Cash and cash equivalents	32,544	43,344
Straight-line rent receivable	97,723	95,703
Assets held for sale, net	22,581	0
Other assets	21,664	21,583
Total Assets	3,077,445	3,120,489
Liabilities and Stockholders' Equity:
Debt	1,434,744	1,499,285
Accounts payable and accrued expenses	25,728	25,189
Dividends Payable	41,266	49,818
Lease deposit liabilities	9,438	10,638
Deferred income	9,209	12,614
Total Liabilities	1,520,385	1,597,544
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	459	452
Capital in excess of par value	1,589,205	1,540,946
Cumulative net income in excess of dividends	(39,316)	(22,015)
Accumulated other comprehensive income	(3,633)	(7,149)
Total National Health Investors, Inc. Stockholders' Equity	1,546,715	1,512,234
Noncontrolling interest	10,345	10,711
Total Equity	1,557,060	1,522,945
Total Liabilities and Equity	$ 3,077,445	$ 3,120,489

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Financing Receivable, Allowance for Credit Loss	$ 5,171	$ 4,946
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	45,850,599	45,185,992
Common stock, shares outstanding	45,850,599	45,185,992

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Rental income	$ 68,351	$ 77,917	$ 143,101	$ 154,444
Interest income and other	5,979	6,257	12,114	12,827
Revenues	74,330	84,174	155,215	167,271
Expenses:
Depreciation	20,658	20,847	41,464	41,290
Interest	12,840	13,557	25,813	27,697
Legal	(40)	250	90	585
Franchise, excise and other taxes	232	145	465	389
General and administrative	3,588	3,032	11,577	7,342
Property taxes and insurance on leased properties	2,175	1,450	4,337	3,002
Loan and realty losses	1,221	(380)	1,171	1,195
Total operating expenses	40,674	38,901	84,917	81,500
Income (Loss) from Equity Method Investments	(909)	(848)	(1,718)	(1,290)
Gains (Losses) on Sales of Investment Real Estate	6,484	0	6,484	21,007
Net income	39,231	44,425	74,613	105,488
Less: net loss attributable to noncontrolling interest	(48)	(57)	(100)	(96)
Net income	$ 39,183	$ 44,368	$ 74,513	$ 105,392
Weighted average common shares outstanding:
Basic	45,850,599	44,650,002	45,577,843	44,631,797
Diluted	45,858,074	44,650,002	45,607,924	44,634,070
Basic:
Net income attributable to common stockholders - basic	$ 0.85	$ 0.99	$ 1.63	$ 2.36
Diluted:
Net income attributable to common stockholders - diluted	$ 0.85	$ 0.99	$ 1.63	$ 2.36
Gain (Loss) on Extinguishment of Debt	$ 0	$ 0	$ (451)	$ 0
$100M Term Loan [Member]
Gain (Loss) on Extinguishment of Debt			$ (451)	$ 0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 39,231	$ 44,425	$ 74,613	$ 105,488
Other comprehensive income (loss):
Increase (decrease) in fair value of cash flow hedge	76	867	82	10,058
Less: reclassification adjustment for amounts recognized in net income	1,820	2,263	3,598	2,755
Total other comprehensive income (loss)	1,744	1,396	3,516	(7,303)
Comprehensive income	40,975	45,821	78,129	98,185
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	48	57	100	96
Comprehensive income	$ 40,927	$ 45,764	$ 78,029	$ 98,089

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 74,613,000	$ 105,488,000
Changes in operating assets and liabilities:
Depreciation	41,464,000	41,290,000
Amortization of Debt Issuance Costs	2,255,000	2,350,000
Amortization of commitment fees	(252,000)	(435,000)
Amortization of lease incentives	522,000	485,000
Straight-line rental income	(8,391,000)	(10,395,000)
Non-cash interest income on construction loan	(1,153,000)	(1,844,000)
Gains (Losses) on Sales of Investment Real Estate	(6,484,000)	(21,007,000)
Income (Loss) from Equity Method Investments	1,718,000	1,290,000
Gain (Loss) on Extinguishment of Debt	451,000	0
Loan and realty losses	1,171,000	1,195,000
Payment of Tenant Lease Incentives	(1,042,000)	0
Share-based compensation	6,438,000	2,315,000
Change in operating assets and liabilities:
Other assets	(2,691,000)	(742,000)
Accounts payable and accrued expenses	118,000	(3,318,000)
Deferred income	(225,000)	137,000
Net cash provided by operating activities	108,512,000	116,809,000
Cash flows from investing activities:
Investment in mortgage and other notes receivable	(42,836,000)	(32,826,000)
Collection of mortgage and other notes receivable	52,266,000	14,579,000
Investment in real estate	(46,817,000)	(94,630,000)
Payments to Develop Real Estate Assets	(64,000)	(54,000)
Payments to Renovate Real Estate	(1,479,000)	(5,579,000)
Payments to Acquire Equity Method Investments	0	(875,000)
Proceeds from Equity Method Investment, Distribution	288,000
Proceeds from Sale of Wholly Owned Real Estate and Real Estate Acquired in Settlement of Loans	43,871,000	39,260,000
Net cash used in investing activities	5,229,000	(80,125,000)
Cash flows from financing activities:
Proceeds from revolving credit facilities	60,000,000	145,000,000
Payments on revolving credit facilities	(333,000,000)	(32,000,000)
Repayments of Long-term Debt	(125,185,000)	(609,000)
Proceeds from Issuance of Senior Long-term Debt	396,784,000	0
Debt issuance costs	(5,018,000)	0
Payments to Noncontrolling Interests	(402,000)	(298,000)
Proceeds from Noncontrolling Interests	0	13,000
Value of shares withheld from options exercised for employee tax withholding	0	(2,705,000)
Proceeds from issuance of common shares, net	47,904,000	(293,000)
Payments for Repurchase of Redeemable Convertible Preferred Stock	(66,076,000)	0
Dividends paid to stockholders	(100,366,000)	(96,043,000)
Net cash provided by (used in) financing activities	(125,359,000)	13,065,000
Increase in cash and cash equivalents and restricted cash	(11,618,000)	49,749,000
Cash and cash equivalents and restricted cash, beginning of period	34,725,000	65,418,000
Supplemental disclosure of cash flow information:
Interest paid, net of amounts capitalized	20,062,000	26,288,000
Supplemental schedule of non-cash investing and financing activities:
Change in accounts payable related to investments in real estate construction	888,000	1,899,000
Change in mortgage notes receivable related to investments in real estate	0	59,350,000
Noncontrolling Interest, Noncash Increase from Subsidiary Equity Issuance	0	10,778,000
Increase in mortgage note receivable from sale of real estate	0	4,000,000
Change in accounts payable related to distributions to noncontrolling interests	$ 63,000	$ 100,000

Consolidated Statement Of Equit

Consolidated Statement Of Equity - USD ($)	Total	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]	Noncontrolling Interest [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,498,252,000	$ 446,000	$ 1,505,948,000	$ (5,331,000)		$ (3,432,000)	$ 1,497,631,000	$ 621,000
Balance, shares at Dec. 31, 2019		44,587,486
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to common stockholders	105,392,000
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	96,000
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	98,185,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation								0
Dividends declared, $1.54 per share				(49,226,000)
Balance, shares at Jun. 30, 2020		44,650,002
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,503,469,000	$ 447,000	1,505,265,000	(2,618,000)		(10,735,000)	1,492,359,000	11,110,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Retained Earnings (Accumulated Deficit)					$ (4,225,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,522,945,000	$ 452,000	1,540,946,000	(22,015,000)		(7,149,000)	1,512,234,000	10,711,000
Balance, shares at Dec. 31, 2020	45,185,992	45,185,992
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, New Issues	661,951
Net income (loss) attributable to common stockholders	$ 74,513,000
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	100,000
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 78,129,000
Balance, shares at Jun. 30, 2021	45,850,599	45,850,599
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,557,060,000	$ 459,000	$ 1,589,205,000	$ (39,316,000)		$ (3,633,000)	$ 1,546,715,000	$ 10,345,000

Consolidated Statement Of Equ_2

Consolidated Statement Of Equity Consolidated Statement of Equity (Parenthetical) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.90	$ 1.1025	$ 1.1025	$ 1.1025	$ 2.0025	$ 2.205

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements	6 Months Ended
	Jun. 30, 2021
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,” “the Company,” “we,” “us,” or “our”), established in 1991 as a Maryland corporation, is a self-managed real estate investment trust (“REIT”) specializing in sale-leaseback, joint venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical facility investments. Our portfolio consists of lease, mortgage and other note investments in independent living facilities, assisted living facilities, entrance-fee communities, senior living campuses, skilled nursing facilities, hospitals and medical office building. As of June 30, 2021, we had investments of approximately $3.2 billion in 222 health care real estate properties located in 34 states and leased pursuant primarily to triple-net leases to 33 lessees consisting of 146 senior housing communities (“SHO”), 72 skilled nursing facilities, three hospitals and one medical office building, excluding one property classified as held for sale. Our portfolio of 14 mortgages along with other notes receivable totaled $289.3 million, excluding an allowance for expected credit losses of $5.2 million, as of June 30, 2021.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
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, 2020, included in our 2020 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, 2021, we held interests in ten 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 the Company 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 rent receivables, excluding our investment accounted for under the equity method discussed in Note 5. The Company’s unconsolidated 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 ( $ in thousands ). Date Name Source of Exposure Carrying Amount Maximum Exposure to Loss Note Reference 2012 Bickford Senior Living Various 1 $ 65,000 $ 88,000 Notes 3, 4 2014 Senior Living Communities Notes and straight-line receivable $ 84,000 $ 93,000 Notes 3, 4 2016 Senior Living Management Notes and straight-line receivable $ 27,000 $ 27,000 — 2018 Sagewood, LCS affiliate Notes $ 117,000 $ 180,000 Note 4 2019 41 Management, LLC Notes and straight-line receivable $ 20,000 $ 34,000 Note 7 2020 Timber Ridge OpCo, LLC Various 2 $ (4,000) $ 5,000 Note 5 2020 Watermark Retirement Notes and straight-line receivable $ 5,000 $ 10,000 Note 7 2021 Montecito Medical Real Estate Notes and funding commitment $ 2,000 $ 50,000 Note 4, 7 2021 Vizion Health Notes and straight-line receivable $ 20,000 $ 22,000 Notes 3, 4 2021 Navion Senior Solutions Notes and straight-line receivable $ 7,000 $ 14,000 Notes 3, 4, 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, in excess of what is presented in the table above, if any, would be limited to that resulting from any 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 would be dependent upon individual facts and circumstances, and is therefore not included in the table above. 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 properties and might be required to consolidate the statements of financial position and results of operations of the operators into our consolidated financial statements. 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 three and six months ended June 30, 2021 and 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 or subject to an agreement (e.g., with a qualified intermediary subject to an Internal Revenue Code §1031 exchange agreement or in accordance with agency agreements governing our 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 $ 32,544 $ 46,853 Restricted cash (included in Other assets) 2,181 18,565 $ 34,725 $ 65,418 Accounting for Lease Modifications related to Coronavirus Disease 2019 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 (“COVID-19”) pandemic. The Lease Modification Q&A clarifies that entities may elect not to evaluate whether lease-related relief provided to mitigate the economic effects of the COVID-19 pandemic is a lease modification under Accounting Standard Codification (“ASC”) 842, Leases (“ASC

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2021
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	Note 3. Real Estate Properties and Investments During the six months ended June 30, 2021, we completed the following real estate acquisitions as described below ($ in thousands) : Operator Date Properties Asset Class Land Building & Improvements Total Vizion Health Q2 2021 1 HOSP $ 1,470 $ 38,780 $ 40,250 Navion Senior Solutions Q2 2021 1 SHO 531 6,069 6,600 $ 2,001 $ 44,849 $ 46,850 Vizion Health In May 2021, we acquired a 64-bed specialty behavioral hospital located in Oklahoma for a total purchase price of $40.3 million, including $0.3 million in closing costs. In May 2021, we leased the hospital to an affiliate of Vizion Health. The 15-year master lease, which includes two five Navion Senior Solutions In June 2021, we acquired a 48-unit assisted living and memory care community in Tennessee for a purchase price of $6.6 million, including closing costs of $0.1 million. The community was added to an existing master lease with Navion Senior Solutions (“Navion”) whose term was reset for 12 years, has a lease rate of 7.5% with fixed annual escalators of 2.5% and offers two optional extensions of five years each. Tenant Concentration The following table contains information regarding tenant concentration in our portfolio, excluding $2.6 million for our corporate office and a credit loss reserve balance of $5.2 million, based on the percentage of revenues for the six months ended June 30, 2021 and 2020, related to tenants or affiliates of tenants, that exceed 10% of total revenue ( $ in thousands ): as of June 30, 2021 Revenues 1 Asset Number of Real Notes Six Months Ended June 30, Class Properties Estate Receivable 2021 2020 Senior Living Communities EFC 10 $ 573,631 $ 44,411 $ 25,420 16% $ 26,140 16% Holiday Retirement ILF 26 532,672 — 19,188 12% 20,353 12% National HealthCare Corporation (NHC) SNF 42 171,188 — 18,844 12% 18,904 11% Bickford Senior Living ALF 42 490,308 36,875 16,893 11% 27,526 16% All others, net 2 Various 1,471,301 208,062 70,533 45% 71,166 43% Escrow funds received from tenants for property operating expenses Various — — 4,337 4% 3,182 2% $ 3,239,100 $ 289,348 $ 155,215 $ 167,271 1 includes interest income on notes receivable 2 includes prior period amounts for disposals or transitioned to new operators At June 30, 2021, the one state in which we had an investment concentration of 10% or more was South Carolina (10.4%). Two of our board members, including our chairman, are also members of NHC’s board of directors. Assets Held for Sale We have identified a behavioral hospital located in Tennessee for disposal, pursuant to the exercise of an option to purchase, and have classified the asset as available for sale on the Condensed Consolidated Balance Sheet at June 30, 2021. In July 2021, we sold this property for cash consideration of $31.2 million and recorded a gain of $8.6 million. Rental income was $0.7 million and $1.4 million, for both the three and six months ended June 30, 2021 and 2020, respectively. Tenant Purchase Options Certain of our leases contain purchase options allowing tenants to acquire the leased properties. At June 30, 2021, we had a net investment of $18.9 million in five real estate properties which are subject to exercisable tenant purchase options. Tenant purchase options on 11 properties in which we had an aggregate net investment of $100.3 million at June 30, 2021, become exercisable between 2022 and 2028. Rental income from leased properties with tenant purchase options either currently exercisable or exercisable in the future was $4.3 million and $8.7 million for the three and six months ended June 30, 2021, respectively, and $4.2 million and $7.9 million for the three and six months ended June 30, 2020, respectively. In June 2021, we received notification of a tenant’s intention to acquire, pursuant to a purchase option, a hospital located in California. The purchase option calls for a minimum purchase price of $15.0 million with any appreciation above $15.0 million to be split evenly between the parties. The net investment at June 30, 2021 was $9.5 million. Rental income was $0.5 million and $0.9 million, for both the three and six months ended June 30, 2021 and 2020, respectively. The transaction will close no earlier than one year after the receipt of the notice of exercise. We cannot reasonably estimate at this time the probability that any other 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 Transitioning Nine properties were transitioned during 2019 to five new tenants following a period of non-compliance by the former operators. Two leases with new tenants for six of these properties specify periods during which rental income is based on operating income, net of management fees. We recognized rental income from these nine properties of $0.8 million and $1.6 million for the three and six months ended June 30, 2021, respectively, and $1.3 million and $2.8 million for the three and six months ended June 30, 2020, respectively. Asset Dispositions Bickford During the second quarter of 2021, we sold to affiliates of Bickford a portfolio of six properties that were being leased to Bickford for a purchase price of $52.9 million. We received approximately $39.9 million in cash consideration upon sale and originated a second mortgage note receivable for the remaining purchase price of $13.0 million. A gain was not recognized related to the $13.0 million second mortgage note receivable, which is discussed in more detail in Note 4. We recorded a gain upon completion of this transaction totaling approximately $3.5 million representing the excess of the $39.9 million cash consideration received over the net book value of the assets sold of $34.5 million and the write off of straight-line rents receivable of approximately $1.9 million. Rental income from this portfolio was $1.6 million and $3.0 million for the six months ended June 30, 2021 and 2020, respectively. Upon completion of the sale, Bickford satisfied the terms of our prior agreement that contingently waived $2.1 million in rental income for the third quarter of 2020. These properties were part of our ongoing negotiations for the sale to Bickford of nine properties being leased to Bickford. We continue to explore our options for the remaining three properties, which could include a sale to a third party, re-tenanting, or retaining the existing lease with Bickford. Florida Medical Office Building During the second quarter of 2021, we also sold a medical office building for approximately $4.3 million in cash consideration resulting in a gain of $3.0 million. Revenue for this property was $0.1 million and $0.2 million for the six months ended June 30, 2021 and 2020 respectively. Holiday Disposition In July 2021, we signed a non-binding letter of intent to sell a portfolio of nine properties that is leased to Holiday with an aggregate net book value of $133.5 million. We anticipate closing this transaction in August 2021 for total cash consideration of $129.8 million and will recognize an impairment of approximately $3.7 million in the third quarter of 2021 associated with this transaction. Rental income was $2.9 million and $5.8 million, for both the three and six months ended June 30, 2021 and 2020, respectively. Future Minimum Base Rent Future minimum lease payments to be received by us under our operating leases at June 30, 2021, are as follows ( $ in thousands ): Remainder of 2021 $ 142,729 2022 284,690 2023 280,864 2024 275,808 2025 276,974 2026 281,289 Thereafter 1,203,183 $ 2,745,537 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 rents receivable, including the straight-line rent receivable and record 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, 2021 2020 2021 2020 Lease payments based on fixed escalators, net of deferrals $ 61,394 $ 69,918 $ 128,982 $ 138,588 Lease payments based on variable escalators 894 1,400 1,913 2,764 Straight-line rent income 4,150 5,218 8,391 10,395 Escrow funds received from tenants for property operating expenses 2,175 1,630 4,337 3,182 Amortization of lease incentives (262) (249) (522) (485) Rental income $ 68,351 $ 77,917 $ 143,101 $ 154,444

Mortgage And Other Notes Receiv

Mortgage And Other Notes Receivable	6 Months Ended
	Jun. 30, 2021
Mortgage and Other Notes Receivable [Abstract]
Mortgage Notes Receivable	Mortgage and Other Notes Receivable At June 30, 2021, our investments in mortgage notes receivable totaled $225.7 million secured by real estate and other assets of the borrower (e.g., UCC liens on personal property) related to 14 facilities and other notes receivable totaled $63.6 million guaranteed by significant parties to the notes or by cross-collateralization of properties with the same owner. These balances exclude a credit loss reserve of $5.2 million at June 30, 2021. All our notes were on full accrual basis at June 30, 2021. Montecito Medical Real Estate In April 2021, the Company entered into a $50.0 million mezzanine loan and security agreement with Montecito Medical Real Estate for a new fund that will invest in medical real estate, including medical office buildings, throughout the United States. Amounts under the loan agreement will be funded as real estate investments are identified for acquisition. Borrowings under the loan agreement will bear interest at an annual rate of 9.5% and accrue an additional 2.5% in interest to be paid upon certain future events including repayments, sales of fund investments, and refinancings. Funds drawn in accordance with this agreement are required to be repaid on a per-investment basis five years from deployment of the funds for the applicable investment and includes two one year extensions. At June 30, 2021, we had funded $2.1 million of our commitment that was used to acquire two medical office buildings for a combined purchase price of approximately $11.1 million. Vizion Health - Brookhaven In May 2021, we provided a $20.0 million, five Bickford As part of the sale of six properties to Bickford discussed in Note 3, we executed a $13.0 million second mortgage as part of the purchase price consideration. The loan is secured by a security interest in the portfolio that is subordinate only to the first mortgage on the portfolio held by a third party. This second mortgage note receivable bears interest at a 10% annual rate and matures in April 2026. Commencing in January 2022, payments of principal and interest are required based on a 15-year amortization schedule. In addition, the interest rate will be reset to 8% if Bickford prepays approximately $5.3 million in principal prior to December 31, 2022. Given the size of the Company financing provided relative to the purchase price, its subordination to the first mortgage outstanding and the ongoing negative impact of the COVID-19 pandemic on Bickford’s operating results, we did not include this note receivable in the determination of the gain to be recognized upon sale of the portfolio in accordance with the provisions of ASC 610-20, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets . Therefore, this note receivable is not reflected in mortgage and other notes receivable, net in the Condensed Consolidated Balance Sheet as of June 30, 2021. We will re-evaluate the collectability of this note receivable each reporting period and recognize the note receivable and related deferred gain at such time the note is considered probable of collection in accordance with ASC 610-20. Navion Senior Solutions In May 2021, we provided a ten Life Care Services - Sagewood In the second quarter of 2021, LCS-Westminster Partnership IV LLP, an affiliate of LCS, repaid principal of $51.4 million on its note receivable. The note balance is $117.1 million as of June 30, 2021. 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, 2021, 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) more than 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, 2021, we did not have any construction loans that we considered underperforming. The tables below present outstanding note balances as of June 30, 2021 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 June 30, 2021, is presented below for the amortized cost, net by year of origination of ( $ in thousands ): 2021 2020 2019 2018 2017 Prior Total Mortgages more than 1.5x $ — $ 14,275 $ 9,029 $ 28,700 $ — $ 4,471 $ 56,475 between 1.0x and 1.5x — — — 116,167 — — 116,167 less than 1.0x — 3,974 39,123 — — 10,000 53,097 No coverage available — — — — — — — — 18,249 48,152 $ 144,867 — 14,471 225,739 Mezzanine more than 1.5x 3,565 — — — — — 3,565 between 1.0x and 1.5x 22,310 — — — — — 22,310 less than 1.0x — — — — — 25,273 25,273 No coverage available — — 750 — — — 750 25,875 — 750 — — 25,273 51,898 Revolver more than 1.5x — between 1.0x and 1.5x 11,711 less than 1.0x — 11,711 Credit loss reserve (5,171) $ 284,177 Due to the economic uncertainty created by the COVID-19 pandemic and the potential impact on the collectability of our mortgages and other notes receivable, we forecasted at the beginning of the pandemic 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 allowance for expected credit losses is presented in the following table for the six months ended June 30, 2021 ( $ in thousands ): Beginning balance January 1, 2021 $ 4,946 Provision for expected credit losses 225 Balance June 30, 2021 $ 5,171 Bickford Construction Loans As of June 30, 2021, we had $42.9 million of construction loans to Bickford. At June 30, 2021, we had funded $32.9 million toward these commitments. 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 $2.0 million 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. Senior Living Communities On March 30, 2021, we amended the revolving line of credit agreement with Senior Living Communities (“Senior Living”) to increase availability from $15.0 million to $20.0 million. Borrowings by Senior Living under the revolver are to be used for working capital needs and to finance construction projects within its portfolio, including building additional units. Beginning January 1, 2023, availability under the revolver reduces to $15.0 million. The revolver matures in December 2029 at the time of lease maturity. At June 30, 2021, the $11.7 million outstanding under the facility bears interest at 7.45% per annum, the prevailing 10-year U.S. Treasury rate plus 6%. The Company also has a mortgage loan of $32.7 million with Senior Living originated in July 2019 for the acquisition of a 248-unit continuing care retirement community (“CCRC”) in Columbia, South Carolina. The mortgage loan is for a term of five years with two one year extensions and carries an interest rate of 7.25%. Additionally, the loan conveys to NHI a purchase option at a stated minimum price of $38.3 million, subject to adjustment for market conditions.

Equity Method Investment

Equity Method Investment	6 Months Ended
	Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure	Note 5. Equity Method Investment Our initial $0.9 million investment in the operating company, Timber Ridge OpCo, held by our Taxable REIT Subsidiary (“TRS”) arose in conjunction with the acquisition of a CCRC from LCS-Westminster Partnership III, LLP, in January 2020. 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”). Accordingly, the TRS holds our 25% equity interest in Timber Ridge OpCo, which permits the TRS to engage in activities and share in cash flows that would otherwise be non-qualifying income under the REIT gross income test. As part of our investment, we provided Timber Ridge OpCo a revolving credit facility of up to $5.0 million of which no funds have been drawn. We account for our investment in Timber Ridge OpCo under the equity method since 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. Our equity share in the losses of Timber Ridge OpCo during the six months ended June 30, 2021 and 2020, was $1.7 million and $1.3 million, respectively. During the six months ended June 30, 2021, we received $0.4 million in cash distributions from Timber Ridge OpCo. 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, 2021, we have recognized our share of Timber Ridge OpCo’s operating losses in excess of our initial investment. These cumulative losses of $4.3 million in excess of our original basis are included in “ Accounts payable and accrued expenses ” in our Condensed Consolidated Balance Sheet as of June 30, 2021. Our commitments are currently limited to the additional $5.0 million under the revolving credit facility.

Debt

Debt	3 Months Ended
	Jun. 30, 2021
Debt Instruments [Abstract]
Debt Disclosure	Debt Debt consists of the following ( $ in thousands ): June 30, December 31, Revolving credit facility - unsecured $ 25,000 $ 298,000 Bank term loans - unsecured 525,000 650,000 Senior notes - unsecured, net of discount of $3,082 396,918 — Private placement term loans - unsecured 400,000 400,000 Fannie Mae term loans - secured, non-recourse 95,169 95,354 Convertible senior notes - unsecured — 60,000 Unamortized loan costs (7,343) (4,069) $ 1,434,744 $ 1,499,285 Aggregate principal maturities of debt as of June 30, 2021 are as follows ( $ in thousands ): Remainder of 2021 $ 187 2022 250,389 2023 475,408 2024 75,425 2025 143,761 2026 — Thereafter 496,917 1,442,087 Less: unamortized loan costs (7,343) $ 1,434,744 Convertible senior notes On April 1, 2021, our 3.25% senior unsecured convertible notes (the “Convertible Notes”) matured. The Company paid $67.1 million, including accrued interest of $1.0 million and a $6.1 million conversion premium to retire the Convertible Notes. The conversion premium was recorded as a reduction of “ Capital in excess of par value” in our Condensed Consolidated Balance Sheet as of June 30, 2021. Unsecured revolving credit facility and bank term loans Our unsecured bank credit facility consists of two term loans - $225.0 million maturing in August 2022 and $300.0 million maturing in September 2023 - and a $550.0 million revolving credit facility that was initially scheduled to mature in August 2021. In April 2021, the Company elected to exercise the extension option on the revolving credit facility available after payment of a 10 basis point extension fee totaling $0.6 million, extending the maturity of the revolver to August 2022. Some combination of cash on hand, proceeds from recent and planned asset sales and operating cash flows is expected to be used to pay off the $225.0 million term loan at its maturity in August 2022. We also plan to execute a multiple year extension of our revolving credit facility prior to the August 2022 maturity date at an amount at least equal to the current $550.0 million capacity. We have swap agreements to fix the interest rates on $400.0 million of term loans that expire in December 2021. In January 2021, we repaid a $100.0 million term loan that was entered into July 2020 with the net proceeds from the 2031 Senior Notes offering discussed below. The term loan bore interest at a rate of 30-day LIBOR (with a 50 basis point floor) plus 185 basis points (“bps”), based on our current leverage ratios. Upon repayment, the Company expensed approximately $0.5 million of deferred financing cost associated with this loan which is included in “ Loss on early retirement of debt ” in our Condensed Consolidated Statement of Income for the six months ended June 30, 2021. The revolving facility fee is currently 20 bps 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 bps and a blended 132 bps, respectively. At June 30, 2021 and December 31, 2020, 30-day LIBOR was 10 bps and 14 bps, respectively. At June 30, 2021, we had $525.0 million 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, 2021, we were in compliance with these ratios. 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. Senior Notes 2031 On January 26, 2021, we issued $400.0 million aggregate principal amount of 3.00% senior notes that mature on February 1, 2031 and pay interest semi-annually (the “2031 Senior Notes”). The 2031 Senior Notes were sold at an issue price of 99.196% of face value before the underwriters’ discount. Our net proceeds from the 2031 Senior Notes offering, after deducting underwriting discounts and expenses, were approximately $392.3 million. We used the net proceeds from the 2031 Senior Notes offering to repay our $100.0 million term loan that was entered into in July 2020 and reduce borrowings outstanding under our revolving credit facility. The 2031 Senior Notes are subject to affirmative and negative covenants, including financial covenants. As of June 30, 2021 we were in compliance with all affirmative and negative covenants, including financial covenants for our 2031 Senior Notes borrowings. Private placement 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 Except for specific debt-coverage ratios and net worth minimums, 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. Fannie Mae term loans In March 2015, we obtained $78.1 million 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 4.6%, and has a remaining balance of $17.1 million at June 30, 2021. Collectively, these notes are secured by facilities having a net book value of $128.0 million at June 30, 2021. 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 $400.0 million of our bank loans. During the remainder of 2021, approximately $3.6 million of losses, which are included in “ Accumulated other comprehensive loss ” in our Condensed Consolidated Balance Sheets, are projected to be reclassified into earnings. As of June 30, 2021, 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) March 2019 December 2021 2.22% 1-month LIBOR $ 100,000 $ (1,062) March 2019 December 2021 2.21% 1-month LIBOR $ 100,000 $ (1,068) June 2019 December 2021 1.61% 1-month LIBOR $ 150,000 $ (1,125) June 2019 December 2021 1.63% 1-month LIBOR $ 50,000 $ (378) If the fair value of the hedge is an asset, we include it in our Condensed Consolidated Balance Sheets in the line item “ 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, 2021 and December 31, 2020, were $3.6 million and $7.1 million, respectively. The following table summarizes interest expense ($ in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Interest expense on debt at contractual rates $ 10,368 $ 10,569 $ 20,821 $ 23,572 Losses reclassified from accumulated other comprehensive income into interest expense 1,820 2,263 3,598 2,755 Capitalized interest (17) (19) (34) (117) Amortization of debt issuance costs, debt discount and other 669 744 1,428 1,487 Total interest expense $ 12,840 $ 13,557 $ 25,813 $ 27,697

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Jun. 30, 2021
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 classified below as loan commitments, and commitments for the funding of construction for expansion or renovation to our existing properties under lease classified below as development commitments. 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, 2021 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 $ (107,342) $ 11,458 Bickford Senior Living SHO Construction 42,900 (32,901) 9,999 41 Management SHO Construction 22,200 (10,217) 11,983 Senior Living Communities SHO Revolving Credit 20,000 (11,711) 8,289 41 Management SHO Construction 10,800 (9,092) 1,708 Timber Ridge OpCo SHO Working Capital 5,000 — 5,000 Watermark Retirement SHO Working Capital 5,000 (1,000) 4,000 Montecito Medical Real Estate MOB Mezzanine Loan 50,000 (2,108) 47,892 $ 274,700 $ (174,371) $ 100,329 As provided above, loans funded do not include the effects of discounts or commitment fees. 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 pandemic 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, 2021 ( $ in thousands ): Beginning balance January 1, 2021 $ 270 Provision for expected credit losses 946 Balance at June 30, 2021 $ 1,216 Asset Class Type Total Funded Remaining Development Commitments: Woodland Village SHO Renovation $ 7,515 $ (7,425) $ 90 Senior Living Communities SHO Renovation 9,930 (9,930) — Discovery Senior Living SHO Renovation 900 (900) — Watermark Retirement SHO Renovation 6,500 (3,000) 3,500 Navion Senior Solutions SHO Renovation 3,650 — 3,650 Other SHO Various 2,800 (391) 2,409 $ 31,295 $ (21,646) $ 9,649 In addition to the commitments listed above, Discovery PropCo has committed to Discovery Senior Living for funding up to $2.0 million toward the purchase of condominium units located at one of the facilities. As of June 30, 2021, we have funded $1.0 million toward this commitment. As of June 30, 2021, we had $31.9 million 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, 2021, we had funded $1.5 million toward these commitments of which $1.0 million was funded during the six months ended June 30, 2021. COVID-19 Pandemic Contingencies Since the World Health Organization declared coronavirus disease 2019 a pandemic on March 11, 2020, the continually evolving pandemic has resulted in a widespread health crisis adversely affecting governments, businesses, and financial markets. The COVID-19 pandemic and related health and safety measures continue to impact the operations of many of the Company’s tenants, operators and borrowers. The federal government has provided economic assistance and other forms of assistance which mitigated to some extent the negative financial impact of the pandemic for certain of our tenants and operators who are eligible. Revenues for the operators of our properties continue to be significantly impacted by occupancy. Building occupancy rates have been and may continue to be adversely affected by the COVID-19 pandemic if it continues to cause sustained negative trends such as early resident move-outs, delays in admitting new residents, or other collateral events. In addition, actions our operators take to address outbreaks could materially increase their operating costs, including costs related to enhanced health and safety precautions among other measures. A decrease in occupancy or increase in costs could have a material adverse effect on the ability of our operators to meet their financial and other contractual obligations to us, including the payment of rent, as well as on our results of operations. Since the pandemic began, we have granted rent concessions as shown in the following table ($ in thousands) : Year ended Three months ended Six months ended December 31, 2020 June 30, 2021 June 30, 2021 Cumulative Totals Deferrals Abatements Deferrals Abatements Deferrals Abatements Deferrals Abatements Bickford $ 3,750 $ 2,100 $ 6,500 $ — $ 10,250 $ — $ 14,000 $ 2,100 Holiday — — 1,200 — 1,200 — 1,200 — All Others 1,232 50 2,201 — 2,648 — 3,880 50 $ 4,982 $ 2,150 $ 9,901 $ — $ 14,098 $ — $ 19,080 $ 2,150 The majority of the deferred amounts noted in the table above accrue interest starting at 8% per annum from the date of the deferral until paid in full under the terms of each tenant’s deferral agreement. No amount of rent deferrals have been repaid. In addition to the concessions noted above, we have agreed with Bickford to defer $1.5 million in contractual rent due for July 2021. We have agreed with Holiday to defer an additional $0.6 million of contractual rent due for July 2021. We also agreed to utilize $1.8 million of the lease deposit with Holiday as contractual rent with $1.2 million applied towards second quarter of 2021 contractual rent and $0.6 million towards July 2021 contractual rent. The balance of the lease deposit at June 30, 2021 was $9.4 million. We have reached agreement with two other tenants regarding additional rent deferrals of approximately $0.9 million for the third quarter 2021. We are in discussions with one other tenant for a rent deferral of approximately $0.7 million for the remainder of 2021. When applicable, we have accounted for rent concessions as variable lease payments, recorded as rental income when received, in accordance with the FASB's Lease Modification Q&A. Reference Note 2 for further discussion. 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. 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, 2021
Equity [Abstract]
Stockholders' Equity Note Disclosure	Note 8. Equity and Dividends At-the-Market (ATM) Equity Program During the six months ended June 30, 2021, we issued 661,951 common shares through the ATM program with an average price of $73.62, resulting in net proceeds of approximately $47.9 million. We intend to use the proceeds from any further activity under the ATM program for general corporate purposes, which may include future acquisitions and repayment of indebtedness, including borrowings under our credit facility. Dividends The following table summarizes dividends declared by the Board of Directors or paid during the six months ended June 30, 2021 and 2020: Six Months Ended June 30, 2021 Date of Declaration Date of Record Date Paid/Payable Quarterly Dividend December 15, 2020 December 31, 2020 January 29, 2021 $1.1025 March 12, 2021 March 31, 2021 May 7, 2021 $1.1025 June 3, 2021 June 30, 2021 August 6, 2021 $0.90 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 31, 2020 May 8, 2020 $1.1025 June 15, 2020 June 30, 2020 August 7, 2020 $1.1025 On August 6, 2021, the Board of Directors declared a $0.90 per share dividend to common stockholders of record on September 30, 2021, payable on November 5, 2021.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Deferred Compensation Arrangements [Abstract]
Stock-Based Compensation	Note 9. Stock-Based Compensation The Company’s outstanding stock incentive awards have been granted under two incentive plans – the 2012 Stock Incentive Plan (“2012 Plan”) and the 2019 Stock Incentive Plan (“2019 Plan”). During the first quarter of 2021, we granted stock options under the 2019 Plan of 639,500 and the remaining 12,500 awards available under the 2012 Plan. As of June 30, 2021, shares available for future grants totaled 2,117,336 all under the 2019 plan. The following is a summary of stock-based compensation expense, net of any 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, 2021 2020 2021 2020 Non-cash stock-based compensation expense $ 992 $ 470 $ 6,438 $ 2,315 The weighted average fair value of options granted during the six months ended June 30, 2021 and 2020 was $14.54 and $5.54 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: 2021 2020 Dividend yield 6.7% 5.1% Expected volatility 48.1% 17.1% Expected lives 2.9 years 2.9 years Risk-free interest rate 0.33% 1.30% 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, 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 Exercisable at June 30, 2020 601,994 $81.09 Options outstanding, January 1, 2021 1,033,838 $83.54 Options granted 652,000 $69.20 Options exercised (20,000) $60.52 Options outstanding, June 30, 2021 1,665,838 $78.20 3.63 Exercisable at June 30, 2021 1,183,324 $79.25 3.33 At June 30, 2021, the aggregate intrinsic value of stock options outstanding and exercisable was $0.3 million and $0.3 million, respectively. The aggregate intrinsic value of stock options exercised during the six months ended June 30, 2021 and 2020 was $0.2 million or $9.27 per share and $8.1 million or $15.84 per share, respectively. As of June 30, 2021, unrecognized compensation expense totaling $3.8 million associated with unvested stock options is expected to be recognized over the following periods: remainder of 2021 - $2.0 million, 2022 - $1.6 million and 2023 - $0.2 million.

Earnings and Dividends Per Shar

Earnings and Dividends Per Share	6 Months Ended
	Jun. 30, 2021
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 prior to its retirement using the treasury stock method, to the extent dilutive. Dilution resulting from the conversion option within our convertible debt was determined by computing an average of incremental shares included in each diluted EPS computation. 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, 2021 2020 2021 2020 Net income attributable to common stockholders $ 39,183 $ 44,368 $ 74,513 $ 105,392 BASIC: Weighted average common shares outstanding 45,850,599 44,650,002 45,577,843 44,631,797 DILUTED: Weighted average common shares outstanding 45,850,599 44,650,002 45,577,843 44,631,797 Stock options 7,475 — 9,174 2,273 Convertible senior notes — — 20,907 — Weighted average dilutive common shares outstanding 45,858,074 44,650,002 45,607,924 44,634,070 Net income attributable to common stockholders - basic $ 0.85 $ 0.99 $ 1.63 $ 2.36 Net income attributable to common stockholders - diluted $ 0.85 $ 0.99 $ 1.63 $ 2.36 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 290,998 610,367 248,223 439,962 Regular dividends declared per common share $ 0.90 $ 1.1025 $ 2.0025 $ 2.205

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	6 Months Ended
	Jun. 30, 2021
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 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. Assets and liabilities measured at fair value on a recurring basis are as follows ($ in thousands) : Fair Value Measurement Balance Sheet Classification June 30, December 31, 2020 Level 2 Interest rate swap liability Accounts payable and accrued expenses $ 3,633 $ 7,150 Carrying amounts and fair values of financial instruments that are not carried at fair value at June 30, 2021 and December 31, 2020 in the Condensed Consolidated Balance Sheets are as follows ($ in thousands ): Carrying Amount Fair Value Measurement June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Level 2 Variable rate debt $ 547,941 $ 945,078 $ 550,000 $ 948,000 Fixed rate debt $ 886,803 $ 554,207 $ 880,572 $ 575,292 Level 3 Mortgage and other notes receivable, net $ 284,177 $ 292,427 $ 303,018 $ 321,021 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 values of our borrowings under our revolving credit facility and other variable rate debt are reasonably estimated at their notional amounts at June 30, 2021 and December 31, 2020, 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, 2021
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, 2020, included in our 2020 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, 2021, we held interests in ten 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 the Company 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 rent receivables, excluding our investment accounted for under the equity method discussed in Note 5. The Company’s unconsolidated 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 ( $ in thousands ). Date Name Source of Exposure Carrying Amount Maximum Exposure to Loss Note Reference 2012 Bickford Senior Living Various 1 $ 65,000 $ 88,000 Notes 3, 4 2014 Senior Living Communities Notes and straight-line receivable $ 84,000 $ 93,000 Notes 3, 4 2016 Senior Living Management Notes and straight-line receivable $ 27,000 $ 27,000 — 2018 Sagewood, LCS affiliate Notes $ 117,000 $ 180,000 Note 4 2019 41 Management, LLC Notes and straight-line receivable $ 20,000 $ 34,000 Note 7 2020 Timber Ridge OpCo, LLC Various 2 $ (4,000) $ 5,000 Note 5 2020 Watermark Retirement Notes and straight-line receivable $ 5,000 $ 10,000 Note 7 2021 Montecito Medical Real Estate Notes and funding commitment $ 2,000 $ 50,000 Note 4, 7 2021 Vizion Health Notes and straight-line receivable $ 20,000 $ 22,000 Notes 3, 4 2021 Navion Senior Solutions Notes and straight-line receivable $ 7,000 $ 14,000 Notes 3, 4, 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, in excess of what is presented in the table above, if any, would be limited to that resulting from any 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 would be dependent upon individual facts and circumstances, and is therefore not included in the table above. 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 properties and might be required to consolidate the statements of financial position and results of operations of the operators into our consolidated financial statements. 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 three and six months ended June 30, 2021 and 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 or subject to an agreement (e.g., with a qualified intermediary subject to an Internal Revenue Code §1031 exchange agreement or in accordance with agency agreements governing our 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 $ 32,544 $ 46,853 Restricted cash (included in Other assets) 2,181 18,565 $ 34,725 $ 65,418
New Accounting Pronouncements, Policy	Accounting for Lease Modifications related to Coronavirus Disease 2019 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 (“COVID-19”) pandemic. The Lease Modification Q&A clarifies that entities may elect not to evaluate whether lease-related relief provided to mitigate the economic effects of the COVID-19 pandemic is a lease modification under Accounting Standard Codification (“ASC”) 842, Leases (“ASC

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Schedule of Variable Interest Entities [Table Text Block]	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 ( $ in thousands ). Date Name Source of Exposure Carrying Amount Maximum Exposure to Loss Note Reference 2012 Bickford Senior Living Various 1 $ 65,000 $ 88,000 Notes 3, 4 2014 Senior Living Communities Notes and straight-line receivable $ 84,000 $ 93,000 Notes 3, 4 2016 Senior Living Management Notes and straight-line receivable $ 27,000 $ 27,000 — 2018 Sagewood, LCS affiliate Notes $ 117,000 $ 180,000 Note 4 2019 41 Management, LLC Notes and straight-line receivable $ 20,000 $ 34,000 Note 7 2020 Timber Ridge OpCo, LLC Various 2 $ (4,000) $ 5,000 Note 5 2020 Watermark Retirement Notes and straight-line receivable $ 5,000 $ 10,000 Note 7 2021 Montecito Medical Real Estate Notes and funding commitment $ 2,000 $ 50,000 Note 4, 7 2021 Vizion Health Notes and straight-line receivable $ 20,000 $ 22,000 Notes 3, 4 2021 Navion Senior Solutions Notes and straight-line receivable $ 7,000 $ 14,000 Notes 3, 4, 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 $ 32,544 $ 46,853 Restricted cash (included in Other assets) 2,181 18,565 $ 34,725 $ 65,418

Real Estate (Tables)

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2021
Real Estate [Abstract]
New Real Estate Investments [Table Text Block]	During the six months ended June 30, 2021, we completed the following real estate acquisitions as described below ($ in thousands) : Operator Date Properties Asset Class Land Building & Improvements Total Vizion Health Q2 2021 1 HOSP $ 1,470 $ 38,780 $ 40,250 Navion Senior Solutions Q2 2021 1 SHO 531 6,069 6,600 $ 2,001 $ 44,849 $ 46,850
Schedule of Tenant Concentrations	Tenant Concentration The following table contains information regarding tenant concentration in our portfolio, excluding $2.6 million for our corporate office and a credit loss reserve balance of $5.2 million, based on the percentage of revenues for the six months ended June 30, 2021 and 2020, related to tenants or affiliates of tenants, that exceed 10% of total revenue ( $ in thousands ): as of June 30, 2021 Revenues 1 Asset Number of Real Notes Six Months Ended June 30, Class Properties Estate Receivable 2021 2020 Senior Living Communities EFC 10 $ 573,631 $ 44,411 $ 25,420 16% $ 26,140 16% Holiday Retirement ILF 26 532,672 — 19,188 12% 20,353 12% National HealthCare Corporation (NHC) SNF 42 171,188 — 18,844 12% 18,904 11% Bickford Senior Living ALF 42 490,308 36,875 16,893 11% 27,526 16% All others, net 2 Various 1,471,301 208,062 70,533 45% 71,166 43% Escrow funds received from tenants for property operating expenses Various — — 4,337 4% 3,182 2% $ 3,239,100 $ 289,348 $ 155,215 $ 167,271 1 includes interest income on notes receivable 2 includes prior period amounts for disposals or transitioned to new operators
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Future minimum lease payments to be received by us under our operating leases at June 30, 2021, are as follows ( $ in thousands ): Remainder of 2021 $ 142,729 2022 284,690 2023 280,864 2024 275,808 2025 276,974 2026 281,289 Thereafter 1,203,183 $ 2,745,537
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, 2021 2020 2021 2020 Lease payments based on fixed escalators, net of deferrals $ 61,394 $ 69,918 $ 128,982 $ 138,588 Lease payments based on variable escalators 894 1,400 1,913 2,764 Straight-line rent income 4,150 5,218 8,391 10,395 Escrow funds received from tenants for property operating expenses 2,175 1,630 4,337 3,182 Amortization of lease incentives (262) (249) (522) (485) Rental income $ 68,351 $ 77,917 $ 143,101 $ 154,444

Mortgage And Other Notes Rece_2

Mortgage And Other Notes Receivable (Tables)	6 Months Ended
	Jun. 30, 2021
Mortgage and Other Notes Receivable [Abstract]
Financing Receivable Credit Quality Indicators	net by year of origination of ( $ in thousands ): 2021 2020 2019 2018 2017 Prior Total Mortgages more than 1.5x $ — $ 14,275 $ 9,029 $ 28,700 $ — $ 4,471 $ 56,475 between 1.0x and 1.5x — — — 116,167 — — 116,167 less than 1.0x — 3,974 39,123 — — 10,000 53,097 No coverage available — — — — — — — — 18,249 48,152 $ 144,867 — 14,471 225,739 Mezzanine more than 1.5x 3,565 — — — — — 3,565 between 1.0x and 1.5x 22,310 — — — — — 22,310 less than 1.0x — — — — — 25,273 25,273 No coverage available — — 750 — — — 750 25,875 — 750 — — 25,273 51,898 Revolver more than 1.5x — between 1.0x and 1.5x 11,711 less than 1.0x — 11,711 Credit loss reserve (5,171) $ 284,177
Schedule of Financing Receivable, Allowance for Credit Loss, Roll Forward	The allowance for expected credit losses is presented in the following table for the six months ended June 30, 2021 ( $ in thousands ): Beginning balance January 1, 2021 $ 4,946 Provision for expected credit losses 225 Balance June 30, 2021 $ 5,171

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Instruments [Abstract]
Schedule of Debt	Debt consists of the following ( $ in thousands ): June 30, December 31, Revolving credit facility - unsecured $ 25,000 $ 298,000 Bank term loans - unsecured 525,000 650,000 Senior notes - unsecured, net of discount of $3,082 396,918 — Private placement term loans - unsecured 400,000 400,000 Fannie Mae term loans - secured, non-recourse 95,169 95,354 Convertible senior notes - unsecured — 60,000 Unamortized loan costs (7,343) (4,069) $ 1,434,744 $ 1,499,285
Schedule of Maturities of Long-term Debt	Aggregate principal maturities of debt as of June 30, 2021 are as follows ( $ in thousands ): Remainder of 2021 $ 187 2022 250,389 2023 475,408 2024 75,425 2025 143,761 2026 — Thereafter 496,917 1,442,087 Less: unamortized loan costs (7,343) $ 1,434,744
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, 2021, 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) March 2019 December 2021 2.22% 1-month LIBOR $ 100,000 $ (1,062) March 2019 December 2021 2.21% 1-month LIBOR $ 100,000 $ (1,068) June 2019 December 2021 1.61% 1-month LIBOR $ 150,000 $ (1,125) June 2019 December 2021 1.63% 1-month LIBOR $ 50,000 $ (378)
Schedule of Interest Expense	The following table summarizes interest expense ($ in thousands ): Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Interest expense on debt at contractual rates $ 10,368 $ 10,569 $ 20,821 $ 23,572 Losses reclassified from accumulated other comprehensive income into interest expense 1,820 2,263 3,598 2,755 Capitalized interest (17) (19) (34) (117) Amortization of debt issuance costs, debt discount and other 669 744 1,428 1,487 Total interest expense $ 12,840 $ 13,557 $ 25,813 $ 27,697

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 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 $ (107,342) $ 11,458 Bickford Senior Living SHO Construction 42,900 (32,901) 9,999 41 Management SHO Construction 22,200 (10,217) 11,983 Senior Living Communities SHO Revolving Credit 20,000 (11,711) 8,289 41 Management SHO Construction 10,800 (9,092) 1,708 Timber Ridge OpCo SHO Working Capital 5,000 — 5,000 Watermark Retirement SHO Working Capital 5,000 (1,000) 4,000 Montecito Medical Real Estate MOB Mezzanine Loan 50,000 (2,108) 47,892 $ 274,700 $ (174,371) $ 100,329
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, 2021 ( $ in thousands ): Beginning balance January 1, 2021 $ 270 Provision for expected credit losses 946 Balance at June 30, 2021 $ 1,216
Schedule of Lease Commitments [Table Text Block]	Asset Class Type Total Funded Remaining Development Commitments: Woodland Village SHO Renovation $ 7,515 $ (7,425) $ 90 Senior Living Communities SHO Renovation 9,930 (9,930) — Discovery Senior Living SHO Renovation 900 (900) — Watermark Retirement SHO Renovation 6,500 (3,000) 3,500 Navion Senior Solutions SHO Renovation 3,650 — 3,650 Other SHO Various 2,800 (391) 2,409 $ 31,295 $ (21,646) $ 9,649
Schedule of Rent Concessions	Since the pandemic began, we have granted rent concessions as shown in the following table ($ in thousands) : Year ended Three months ended Six months ended December 31, 2020 June 30, 2021 June 30, 2021 Cumulative Totals Deferrals Abatements Deferrals Abatements Deferrals Abatements Deferrals Abatements Bickford $ 3,750 $ 2,100 $ 6,500 $ — $ 10,250 $ — $ 14,000 $ 2,100 Holiday — — 1,200 — 1,200 — 1,200 — All Others 1,232 50 2,201 — 2,648 — 3,880 50 $ 4,982 $ 2,150 $ 9,901 $ — $ 14,098 $ — $ 19,080 $ 2,150

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Dividends Declared	The following table summarizes dividends declared by the Board of Directors or paid during the six months ended June 30, 2021 and 2020: Six Months Ended June 30, 2021 Date of Declaration Date of Record Date Paid/Payable Quarterly Dividend December 15, 2020 December 31, 2020 January 29, 2021 $1.1025 March 12, 2021 March 31, 2021 May 7, 2021 $1.1025 June 3, 2021 June 30, 2021 August 6, 2021 $0.90 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 31, 2020 May 8, 2020 $1.1025 June 15, 2020 June 30, 2020 August 7, 2020 $1.1025

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Deferred Compensation Arrangements [Abstract]
Share-based Payment Arrangement, Expensed and Capitalized, Amount	The following is a summary of stock-based compensation expense, net of any 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, 2021 2020 2021 2020 Non-cash stock-based compensation expense $ 992 $ 470 $ 6,438 $ 2,315
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: 2021 2020 Dividend yield 6.7% 5.1% Expected volatility 48.1% 17.1% Expected lives 2.9 years 2.9 years Risk-free interest rate 0.33% 1.30%
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, 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 Exercisable at June 30, 2020 601,994 $81.09 Options outstanding, January 1, 2021 1,033,838 $83.54 Options granted 652,000 $69.20 Options exercised (20,000) $60.52 Options outstanding, June 30, 2021 1,665,838 $78.20 3.63 Exercisable at June 30, 2021 1,183,324 $79.25 3.33

Earnings and Dividends Per Sh_2

Earnings and Dividends Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 2020 2021 2020 Net income attributable to common stockholders $ 39,183 $ 44,368 $ 74,513 $ 105,392 BASIC: Weighted average common shares outstanding 45,850,599 44,650,002 45,577,843 44,631,797 DILUTED: Weighted average common shares outstanding 45,850,599 44,650,002 45,577,843 44,631,797 Stock options 7,475 — 9,174 2,273 Convertible senior notes — — 20,907 — Weighted average dilutive common shares outstanding 45,858,074 44,650,002 45,607,924 44,634,070 Net income attributable to common stockholders - basic $ 0.85 $ 0.99 $ 1.63 $ 2.36 Net income attributable to common stockholders - diluted $ 0.85 $ 0.99 $ 1.63 $ 2.36 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 290,998 610,367 248,223 439,962 Regular dividends declared per common share $ 0.90 $ 1.1025 $ 2.0025 $ 2.205

Fair Value Of Financial Instr_2

Fair Value Of Financial Instruments Fair Value Of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2020 Level 2 Interest rate swap liability Accounts payable and accrued expenses $ 3,633 $ 7,150
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, 2021 and December 31, 2020 in the Condensed Consolidated Balance Sheets are as follows ($ in thousands ): Carrying Amount Fair Value Measurement June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Level 2 Variable rate debt $ 547,941 $ 945,078 $ 550,000 $ 948,000 Fixed rate debt $ 886,803 $ 554,207 $ 880,572 $ 575,292 Level 3 Mortgage and other notes receivable, net $ 284,177 $ 292,427 $ 303,018 $ 321,021

Organization, Consolidation a_2

Organization, Consolidation and Presentation of Financial Statements (Details) $ in Thousands	Jun. 30, 2021USD ($)	Jun. 30, 2021properties	Jun. 30, 2021	Jun. 30, 2021beds_or_units	Dec. 31, 2020USD ($)
Real Estate Investment Property, Portfolio Assets | $	$ 3,200,000
Number of Properties		222
Number of States in which Entity Operates			34
Number of Lessees			33
Number of health care properties related to mortgage notes receivables		14		14
Loans and Leases Receivable, Gross | $	289,348
Financing Receivable, Allowance for Credit Loss | $	$ 5,171				$ 4,946
Senior Housing Community [Member]
Number of Properties		146
Skilled Nursing Facility [Member]
Number of Properties		72
Hospital [Member]
Number of Properties		3
Medical Office Building [Member]
Number of Properties		1

Significant Accounting Polici_4

Significant Accounting Policies (Schedule of Variable Interest Entities) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Straight-Line Rent Receivable [Member] | Bickford Senior Living [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	$ (65,000)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	88,000
Straight-Line Rent Receivable [Member] | Senior Living Communities [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(84,000)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	93,000
Straight-Line Rent Receivable [Member] | Senior Living Management [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(27,000)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	27,000
Notes Receivable [Member] | LCS Sagewood [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(117,000)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	180,000
Notes Receivable [Member] | 41 Management [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(20,000)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	34,000
Notes Receivable [Member] | Timber Ridge OpCo
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(4,000)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	5,000
Notes Receivable [Member] | Watermark Retirement [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(5,000)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	10,000
Notes Receivable [Member] | Montecito Medical Real Estate
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(2,000)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	50,000
Notes Receivable [Member] | Vizion Health
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(20,000)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	22,000
Notes Receivable [Member] | Navion Senior Solutions [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Carrying Amount	(7,000)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	$ 14,000

Significant Accounting Polici_5

Significant Accounting Policies Schedule of Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Schedule of Cash [Abstract]
Cash and cash equivalents	$ 32,544		$ 46,853
Restricted cash	2,181		18,565
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 34,725	$ 46,343	$ 65,418	$ 15,669

Significant Accounting Polici_6

Significant Accounting Policies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)properties
Variable Interest Entity Number Of Entities Not Primary Beneficiary | properties	10
Lease Payment Deferral [Member]
Operating Lease, Lease Income	$ 19,080
Lease Payment Deferral [Member] | Rent Deferred Second Quarter of 2021
Operating Lease, Lease Income	9,901
Lease Payment Deferral [Member] | Rent Deferred Six Months of 2021
Operating Lease, Lease Income	$ 14,098

Real Estate (New Real Estate In

Real Estate (New Real Estate Investments) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Land	$ 212,609	$ 220,361
Current Period Real Estate Acquisition
Land	2,001
Buildings and Improvements, Gross	44,849
Real Estate Investments During The Period	46,850
Vizion Health | Current Period Real Estate Acquisition
Land	1,470
Buildings and Improvements, Gross	38,780
Real Estate Investments During The Period	40,250
Navion Senior Solutions [Member] | Current Period Real Estate Acquisition
Land	531
Buildings and Improvements, Gross	6,069
Real Estate Investments During The Period	$ 6,600

Real Estate (Schedule of Tenant

Real Estate (Schedule of Tenant Concentrations) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)properties	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)properties	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Number of Properties | properties	222		222
Property, Plant and Equipment, Gross	$ 3,241,699		$ 3,241,699		$ 3,265,070
Loans and Leases Receivable, Net Amount	284,177		284,177		$ 292,427
Operating Leases, Income Statement, Lease Revenue	68,351	$ 77,917	143,101	$ 154,444
Revenues	74,330	84,174	155,215	167,271
Real Estate Investment Property, at Cost	3,239,100		3,239,100
Loans and Leases Receivable, Gross	289,348		289,348
Nonportfolio Assets, Original Cost	2,600		2,600
Escrow Funds Received From Tenants [Member]
Operating Leases, Income Statement, Lease Revenue	$ 2,175	$ 1,630	$ 4,337	$ 3,182
Percentage of Continuing Revenue			4.00%	2.00%
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	$ 44,411		44,411
Operating Leases, Income Statement, Lease Revenue			$ 25,420	$ 26,140
Percentage of Continuing Revenue			16.00%	16.00%
Bickford Senior Living [Member]
Number of Properties | properties	42		42
Property, Plant and Equipment, Gross	$ 490,308		$ 490,308
Loans and Leases Receivable, Net Amount	$ 36,875		36,875
Operating Leases, Income Statement, Lease Revenue			$ 16,893	$ 27,526
Percentage of Continuing Revenue			11.00%	16.00%
Holiday Acquisition Holdings [Member]
Number of Properties | properties	26		26
Property, Plant and Equipment, Gross	$ 532,672		$ 532,672
Operating Leases, Income Statement, Lease Revenue			$ 19,188	$ 20,353
Percentage of Continuing Revenue			12.00%	12.00%
National Healthcare Corporation [Member]
Number of Properties | properties	42		42
Property, Plant and Equipment, Gross	$ 171,188		$ 171,188
Operating Leases, Income Statement, Lease Revenue			$ 18,844	$ 18,904
Percentage of Continuing Revenue			12.00%	11.00%
Less than 10% Operators [Member]
Property, Plant and Equipment, Gross	1,471,301		$ 1,471,301
Loans and Leases Receivable, Net Amount	$ 208,062		208,062
Operating Leases, Income Statement, Lease Revenue			$ 70,533	$ 71,166
Percentage of Continuing Revenue		43.00%	45.00%

Real Estate (Schedule of Future

Real Estate (Schedule of Future Minimum Lease Payments) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Operating Leases, Future Minimum Payments Due, Rolling Maturity [Abstract]
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year	$ 142,729
Operating Leases, Future Minimum Payments Due, Next Twelve Months	284,690
Operating Leases, Future Minimum Payments, Due in Two Years	280,864
Operating Leases, Future Minimum Payments, Due in Three Years	275,808
Operating Leases, Future Minimum Payments, Due in Four Years	276,974
Operating Leases, Future Minimum Payments, Due in Five Years	281,289
Operating Leases, Future Minimum Payments, Due Thereafter	1,203,183
Operating Leases, Future Minimum Payments Due	$ 2,745,537

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating Leases, Income Statement, Lease Revenue	$ 68,351	$ 77,917	$ 143,101	$ 154,444
Amortization of lease incentives	(262)	(249)	(522)	(485)
Fixed Lease Escalation [Member]
Operating Leases, Income Statement, Lease Revenue	61,394	69,918	128,982	138,588
Variable Lease Escalation [Member]
Operating Leases, Income Statement, Lease Revenue	894	1,400	1,913	2,764
Straight Line Rent Income [Member]
Operating Leases, Income Statement, Lease Revenue	4,150	5,218	8,391	10,395
Escrow Funds Received From Tenants [Member]
Operating Leases, Income Statement, Lease Revenue	$ 2,175	$ 1,630	$ 4,337	$ 3,182

Real Estate (Narrative) (Detail

Real Estate (Narrative) (Details) $ in Thousands	Aug. 05, 2021USD ($)beds_or_units	Jul. 15, 2021USD ($)	Jun. 30, 2021USD ($)beds_or_unitspropertiesrenewalOptions	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)beds_or_unitspropertiesrenewalOptions	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Number of Real Estate Properties | properties			222		222
Number of States in which Entity Operates			34		34
Operating Leases, Income Statement, Lease Revenue			$ 68,351	$ 77,917	$ 143,101	$ 154,444
Property, Plant and Equipment, Net			2,618,756		2,618,756		$ 2,667,432
Loans and Leases Receivable, Gross			289,348		289,348
Loans and Leases Receivable, Commitments, Fixed Rates					274,700
Gains (Losses) on Sales of Investment Real Estate			$ 6,484	0	$ 6,484	21,007
Minimum Holding Period After Purchase Option Exercise					1 year
Real Estate Disclosure [Text Block]					Note 3. Real Estate Properties and Investments During the six months ended June 30, 2021, we completed the following real estate acquisitions as described below ($ in thousands) : Operator Date Properties Asset Class Land Building & Improvements Total Vizion Health Q2 2021 1 HOSP $ 1,470 $ 38,780 $ 40,250 Navion Senior Solutions Q2 2021 1 SHO 531 6,069 6,600 $ 2,001 $ 44,849 $ 46,850 Vizion Health In May 2021, we acquired a 64-bed specialty behavioral hospital located in Oklahoma for a total purchase price of $40.3 million, including $0.3 million in closing costs. In May 2021, we leased the hospital to an affiliate of Vizion Health. The 15-year master lease, which includes two five Navion Senior Solutions In June 2021, we acquired a 48-unit assisted living and memory care community in Tennessee for a purchase price of $6.6 million, including closing costs of $0.1 million. The community was added to an existing master lease with Navion Senior Solutions (“Navion”) whose term was reset for 12 years, has a lease rate of 7.5% with fixed annual escalators of 2.5% and offers two optional extensions of five years each. Tenant Concentration The following table contains information regarding tenant concentration in our portfolio, excluding $2.6 million for our corporate office and a credit loss reserve balance of $5.2 million, based on the percentage of revenues for the six months ended June 30, 2021 and 2020, related to tenants or affiliates of tenants, that exceed 10% of total revenue ( $ in thousands ): as of June 30, 2021 Revenues 1 Asset Number of Real Notes Six Months Ended June 30, Class Properties Estate Receivable 2021 2020 Senior Living Communities EFC 10 $ 573,631 $ 44,411 $ 25,420 16% $ 26,140 16% Holiday Retirement ILF 26 532,672 — 19,188 12% 20,353 12% National HealthCare Corporation (NHC) SNF 42 171,188 — 18,844 12% 18,904 11% Bickford Senior Living ALF 42 490,308 36,875 16,893 11% 27,526 16% All others, net 2 Various 1,471,301 208,062 70,533 45% 71,166 43% Escrow funds received from tenants for property operating expenses Various — — 4,337 4% 3,182 2% $ 3,239,100 $ 289,348 $ 155,215 $ 167,271 1 includes interest income on notes receivable 2 includes prior period amounts for disposals or transitioned to new operators At June 30, 2021, the one state in which we had an investment concentration of 10% or more was South Carolina (10.4%). Two of our board members, including our chairman, are also members of NHC’s board of directors. Assets Held for Sale We have identified a behavioral hospital located in Tennessee for disposal, pursuant to the exercise of an option to purchase, and have classified the asset as available for sale on the Condensed Consolidated Balance Sheet at June 30, 2021. In July 2021, we sold this property for cash consideration of $31.2 million and recorded a gain of $8.6 million. Rental income was $0.7 million and $1.4 million, for both the three and six months ended June 30, 2021 and 2020, respectively. Tenant Purchase Options Certain of our leases contain purchase options allowing tenants to acquire the leased properties. At June 30, 2021, we had a net investment of $18.9 million in five real estate properties which are subject to exercisable tenant purchase options. Tenant purchase options on 11 properties in which we had an aggregate net investment of $100.3 million at June 30, 2021, become exercisable between 2022 and 2028. Rental income from leased properties with tenant purchase options either currently exercisable or exercisable in the future was $4.3 million and $8.7 million for the three and six months ended June 30, 2021, respectively, and $4.2 million and $7.9 million for the three and six months ended June 30, 2020, respectively. In June 2021, we received notification of a tenant’s intention to acquire, pursuant to a purchase option, a hospital located in California. The purchase option calls for a minimum purchase price of $15.0 million with any appreciation above $15.0 million to be split evenly between the parties. The net investment at June 30, 2021 was $9.5 million. Rental income was $0.5 million and $0.9 million, for both the three and six months ended June 30, 2021 and 2020, respectively. The transaction will close no earlier than one year after the receipt of the notice of exercise. We cannot reasonably estimate at this time the probability that any other 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 Transitioning Nine properties were transitioned during 2019 to five new tenants following a period of non-compliance by the former operators. Two leases with new tenants for six of these properties specify periods during which rental income is based on operating income, net of management fees. We recognized rental income from these nine properties of $0.8 million and $1.6 million for the three and six months ended June 30, 2021, respectively, and $1.3 million and $2.8 million for the three and six months ended June 30, 2020, respectively. Asset Dispositions Bickford During the second quarter of 2021, we sold to affiliates of Bickford a portfolio of six properties that were being leased to Bickford for a purchase price of $52.9 million. We received approximately $39.9 million in cash consideration upon sale and originated a second mortgage note receivable for the remaining purchase price of $13.0 million. A gain was not recognized related to the $13.0 million second mortgage note receivable, which is discussed in more detail in Note 4. We recorded a gain upon completion of this transaction totaling approximately $3.5 million representing the excess of the $39.9 million cash consideration received over the net book value of the assets sold of $34.5 million and the write off of straight-line rents receivable of approximately $1.9 million. Rental income from this portfolio was $1.6 million and $3.0 million for the six months ended June 30, 2021 and 2020, respectively. Upon completion of the sale, Bickford satisfied the terms of our prior agreement that contingently waived $2.1 million in rental income for the third quarter of 2020. These properties were part of our ongoing negotiations for the sale to Bickford of nine properties being leased to Bickford. We continue to explore our options for the remaining three properties, which could include a sale to a third party, re-tenanting, or retaining the existing lease with Bickford. Florida Medical Office Building During the second quarter of 2021, we also sold a medical office building for approximately $4.3 million in cash consideration resulting in a gain of $3.0 million. Revenue for this property was $0.1 million and $0.2 million for the six months ended June 30, 2021 and 2020 respectively. Holiday Disposition In July 2021, we signed a non-binding letter of intent to sell a portfolio of nine properties that is leased to Holiday with an aggregate net book value of $133.5 million. We anticipate closing this transaction in August 2021 for total cash consideration of $129.8 million and will recognize an impairment of approximately $3.7 million in the third quarter of 2021 associated with this transaction. Rental income was $2.9 million and $5.8 million, for both the three and six months ended June 30, 2021 and 2020, respectively. Future Minimum Base Rent Future minimum lease payments to be received by us under our operating leases at June 30, 2021, are as follows ( $ in thousands ): Remainder of 2021 $ 142,729 2022 284,690 2023 280,864 2024 275,808 2025 276,974 2026 281,289 Thereafter 1,203,183 $ 2,745,537 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 rents receivable, including the straight-line rent receivable and record 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, 2021 2020 2021 2020 Lease payments based on fixed escalators, net of deferrals $ 61,394 $ 69,918 $ 128,982 $ 138,588 Lease payments based on variable escalators 894 1,400 1,913 2,764 Straight-line rent income 4,150 5,218 8,391 10,395 Escrow funds received from tenants for property operating expenses 2,175 1,630 4,337 3,182 Amortization of lease incentives (262) (249) (522) (485) Rental income $ 68,351 $ 77,917 $ 143,101 $ 154,444
Lease Abatement [Member]
Operating Lease, Lease Income					$ 2,150
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 | properties			5		5
Minimum Annual Lease Income			$ 4,300	4,200	$ 8,700	7,900
Property, Plant and Equipment, Net			$ 18,900		$ 18,900
After 2021 [Member]
Number of Real Estate Properties | beds_or_units			11		11
Property, Plant and Equipment, Net			$ 100,300		$ 100,300
Bickford Senior Living [Member]
Number of Real Estate Properties | properties			42		42
Operating Leases, Income Statement, Lease Revenue					$ 16,893	$ 27,526
Percentage of Continuing Revenue					11.00%	16.00%
Proceeds from Sale of Real Estate			$ 39,900
Gains (Losses) on Sales of Investment Real Estate			$ 3,500
Bickford Senior Living [Member] | Lease Abatement [Member]
Operating Lease, Lease Income					$ 2,100
Non-Performing Lease [Member]
Number of Real Estate Properties | beds_or_units			9		9
Operating Leases, Income Statement, Lease Revenue			$ 800	$ 1,300	$ 1,600	$ 2,800
Number of Operators/Tenants | beds_or_units			5		5
NHC Board Members [Member]
Number of Board Members | beds_or_units			2		2
Vizion Health
Loans and Leases Receivable, Commitments, Fixed Rates					$ 20,000
Number of Units in Real Estate Property | beds_or_units			64		64
Lessor, Operating Lease, Term of Contract			15 years		15 years
Lessee, Operating Lease, Renewal Term			5 years		5 years
Initial lease rate			8.50%		8.50%
Lease Escalator Minimum			2.50%		2.50%
Number of Additional Lease Renewal Options | renewalOptions			2		2
Payments for Capital Improvements					$ 2,000
Navion Senior Solutions [Member]
Loans and Leases Receivable, Commitments, Fixed Rates					$ 3,600
Number of Units in Real Estate Property | beds_or_units			48		48
Lessor, Operating Lease, Term of Contract			12 years		12 years
Lessee, Operating Lease, Renewal Term			5 years		5 years
Initial lease rate			7.50%		7.50%
Lease Escalator Minimum			2.50%		2.50%
Number of Additional Lease Renewal Options | renewalOptions			2		2
Holiday Acquisition Holdings [Member]
Number of Real Estate Properties | properties			26		26
Operating Leases, Income Statement, Lease Revenue					$ 19,188	$ 20,353
Percentage of Continuing Revenue					12.00%	12.00%
Holiday Acquisition Holdings [Member] | Subsequent Event [Member]
Proceeds from Sale of Real Estate	$ 129,800
Impairment of Real Estate	$ (3,700)
Medical Office Building [Member]
Number of Real Estate Properties | properties			1		1
Operating Leases, Income Statement, Lease Revenue			$ 700		$ 1,400
Proceeds from Sale of Real Estate			4,300
Gains (Losses) on Sales of Investment Real Estate			$ 3,000
Medical Office Building [Member] | Subsequent Event [Member]
Proceeds from Sale of Property Held-for-sale		$ 31,200
Gains (Losses) on Sales of Investment Real Estate		$ 8,600
Hospital [Member]
Number of Real Estate Properties | properties			3		3
Hospital [Member] | Open Now [Member]
Minimum Annual Lease Income			$ (500)		$ (900)
Property, Plant and Equipment, Net			9,500		9,500
Purchase Option, Amount, Minimum			$ 15,000		$ 15,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Bickford Senior Living [Member]
Number of Real Estate Properties | properties			6		6
Operating Leases, Income Statement, Lease Revenue					$ 1,600	$ 3,000
Property, Plant and Equipment, Net			$ 34,500		34,500
Proceeds from Sale of Real Estate			52,900
Loans and Leases Receivable, Commitments, Fixed Rates			$ 13,000
2019 Straight Line Rent					1,900
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Holiday Acquisition Holdings [Member]
Operating Leases, Income Statement, Lease Revenue					2,900	5,800
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Holiday Acquisition Holdings [Member] | Subsequent Event [Member]
Number of Real Estate Properties | beds_or_units	9
Property, Plant and Equipment, Net	$ 133,500
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Medical Office Building [Member]
Operating Leases, Income Statement, Lease Revenue					$ 100	$ 200
Net Operating Based Lease [Member] | Non-Performing Lease [Member]
Number of Real Estate Properties | beds_or_units			6		6
Number of Master Leases | beds_or_units			2		2
Negotiations to sale | Bickford Senior Living [Member]
Number of Real Estate Properties | beds_or_units			9		9
Current Period Real Estate Acquisition
Real Estate Investments During The Period					$ 46,850
Current Period Real Estate Acquisition | Vizion Health
Real Estate Investments During The Period					40,250
Asset Purchase Transaction Costs			$ 300
Current Period Real Estate Acquisition | Navion Senior Solutions [Member]
Real Estate Investments During The Period					6,600
Asset Purchase Transaction Costs			$ 100
Lease Abatement for 2020 | Lease Abatement [Member]
Operating Lease, Lease Income					2,150
Lease Abatement for 2020 | Bickford Senior Living [Member] | Lease Abatement [Member]
Operating Lease, Lease Income					$ 2,100
SOUTH CAROLINA
Percentage of Continuing Revenue					10.40%

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, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	$ 289,348
Financing Receivable, Allowance for Credit Loss	5,171	$ 4,946
Loans and Leases Receivable, Net Amount	284,177	$ 292,427
Mortgages [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	225,739
Mortgages [Member] | 2020 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	18,249
Mortgages [Member] | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	48,152
Mortgages [Member] | 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	144,867
Mortgages [Member] | EBITDARM Coverage above 1.5x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	56,475
Mortgages [Member] | EBITDARM Coverage above 1.5x | 2020 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	14,275
Mortgages [Member] | EBITDARM Coverage above 1.5x | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	9,029
Mortgages [Member] | EBITDARM Coverage above 1.5x | 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	28,700
Mortgages [Member] | EBITDARM Coverage, 1.0x to 1.5x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	116,167
Mortgages [Member] | EBITDARM Coverage, 1.0x to 1.5x | 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	116,167
Mortgages [Member] | EBITDARM Coverage Below 1.0x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	53,097
Mortgages [Member] | EBITDARM Coverage Below 1.0x | 2020 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	3,974
Mortgages [Member] | EBITDARM Coverage Below 1.0x | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	39,123
Mezzanine
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	51,898
Mezzanine | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	750
Mezzanine | EBITDARM Coverage above 1.5x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	3,565
Mezzanine | EBITDARM Coverage, 1.0x to 1.5x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	22,310
Mezzanine | EBITDARM Coverage Below 1.0x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	25,273
Mezzanine | EBITDARM Coverage Not Available
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	750
Mezzanine | EBITDARM Coverage Not Available | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	750
Revolving Credit Facility
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	11,711
Revolving Credit Facility | EBITDARM Coverage, 1.0x to 1.5x
Financing Receivable, Credit Quality Indicator [Line Items]
Loans and Leases Receivable, Gross	$ 11,711

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, 2021USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss, Beginning Balance	$ 4,946
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease)	225
Financing Receivable, Allowance for Credit Loss, Ending Balance	5,171
Loans and Leases Receivable, Gross	289,348
Mortgages [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	225,739
Mortgages [Member] | EBITDARM Coverage Below 1.0x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	53,097
Mortgages [Member] | EBITDARM Coverage above 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	56,475
Mortgages [Member] | EBITDARM Coverage, 1.0x to 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	116,167
Mezzanine
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	51,898
Mezzanine | EBITDARM Coverage Below 1.0x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	25,273
Mezzanine | EBITDARM Coverage above 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	3,565
Mezzanine | EBITDARM Coverage, 1.0x to 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	22,310
Mezzanine | EBITDARM Coverage Not Available
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	750
2021 | Mezzanine
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	25,875
2021 | Mezzanine | EBITDARM Coverage above 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	3,565
2021 | Mezzanine | EBITDARM Coverage, 1.0x to 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	22,310
2020 [Member] | Mortgages [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	18,249
2020 [Member] | Mortgages [Member] | EBITDARM Coverage Below 1.0x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	3,974
2020 [Member] | Mortgages [Member] | EBITDARM Coverage above 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	14,275
2019 | Mortgages [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	48,152
2019 | Mortgages [Member] | EBITDARM Coverage Below 1.0x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	39,123
2019 | Mortgages [Member] | EBITDARM Coverage above 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	9,029
2019 | Mezzanine
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	750
2019 | Mezzanine | EBITDARM Coverage Not Available
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	750
2018 | Mortgages [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	144,867
2018 | Mortgages [Member] | EBITDARM Coverage above 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	28,700
2018 | Mortgages [Member] | EBITDARM Coverage, 1.0x to 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	116,167
Prior to 2017 | Mortgages [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	14,471
Prior to 2017 | Mortgages [Member] | EBITDARM Coverage Below 1.0x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	10,000
Prior to 2017 | Mortgages [Member] | EBITDARM Coverage above 1.5x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	4,471
Prior to 2017 | Mezzanine
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	25,273
Prior to 2017 | Mezzanine | EBITDARM Coverage Below 1.0x
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and Leases Receivable, Gross	$ 25,273

Mortgage And Other Notes Rece_5

Mortgage And Other Notes Receivable (Schedule of Bickford Construction Loans) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Loans and Leases Receivable, Commitments, Fixed Rates	$ 274,700
Loans and Leases Receivable, Net Amount	(284,177)	$ (292,427)
Bickford Note Investment [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	42,900
Loans and Leases Receivable, Net Amount	$ (32,900)

Mortgage And Other Notes Rece_6

Mortgage And Other Notes Receivable (Narrative) (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2021USD ($)properties	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021beds_or_units	Jun. 30, 2021renewalOptions	Jun. 30, 2021	Jun. 30, 2021properties	Dec. 31, 2020USD ($)
Number of health care properties related to mortgage notes receivables				14			14
Probability of Default, Increase, Current Conditions Adjustment						20.00%
Estimated Credit Losses, Current Conditions Adjustment, Combined						44.00%
Loans and Leases Receivable, Gross	$ 289,348,000	$ 289,348,000
Loans and Leases Receivable, Net Amount	284,177,000	284,177,000						$ 292,427,000
Loans and Leases Receivable, Commitments, Fixed Rates		274,700,000
Financing Receivable, Allowance for Credit Loss	(5,171,000)	(5,171,000)						$ (4,946,000)
Increase in mortgage note receivable from sale of real estate		0	$ 4,000,000
Increase (Decrease) in Notes Receivables	51,400,000
Interest Rate Swaps, Maturity Date, After June 2020 [Member]
Derivative, Notional Amount	400,000,000	400,000,000
Bickford Note Investment [Member]
Contingent Incentive Payments	2,000,000	2,000,000
Loans and Leases Receivable, Net Amount	32,900,000	32,900,000
Loans and Leases Receivable, Commitments, Fixed Rates		42,900,000
LCS Sagewood [Member]
Loans and Leases Receivable, Commitments, Fixed Rates		117,100,000
Timber Ridge OpCo
Financing Receivable, Revolving	5,000,000	5,000,000
Senior Living Communities [Member]
Loans and Lease Receivable, Maximum Revolving Amount	20,000,000	20,000,000
Revolving Note Receivable, Amount Outstanding	(11,700,000)	$ (11,700,000)
Loans Receivable, Description of Variable Rate Basis, Reference Rate Maturity		10 years
Loans Receivable, Basis Spread on Variable Rate						6.00%
Loans Receivable, Description, Variable Rate Basis, Reference Rate		7.45%
Loans and Leases Receivable, Net Amount	44,411,000	$ 44,411,000
Number of Additional Lease Renewal Options | properties							2
Note Receivable Renewal Term		1 year
Purchase Option, Amount, Minimum	38,300,000	$ 38,300,000
Percentage of Continuing Revenue		16.00%	16.00%
Montecito Medical Real Estate
Notes Receivable, Interest Rate, Master Credit Agreement						9.50%
Loan Term		5 years
Loans and Leases Receivable, Net Amount	2,100,000	$ 2,100,000
Number of Additional Lease Renewal Options | renewalOptions					2
Note Receivable Renewal Term		1 year
Loans and Leases Receivable, Commitments, Fixed Rates		$ 50,000,000
Incremental Percentage Increase in the Stated Rate of a Note Receivable						2.50%
Bickford Senior Living [Member]
Loans and Leases Receivable, Net Amount	36,875,000	$ 36,875,000
Percentage of Continuing Revenue		11.00%	16.00%
Bickford Senior Living [Member] | Loan Balance Threshold Payment Terms Change
Loans and Leases Receivable, Commitments, Fixed Rates		$ 5,300,000
Bickford Senior Living [Member] | Contractual Interest Rate Reduction
Note Receivable Interest Rate						8.00%
Vizion Health
Number of Units in Real Estate Property | beds_or_units				64
Notes Receivable, Interest Rate, Master Credit Agreement						8.50%
Loan Term		5 years
Number of Additional Lease Renewal Options | renewalOptions					2
Loans and Leases Receivable, Commitments, Fixed Rates		$ 20,000,000
Incremental Percentage Increase in the Stated Rate of a Note Receivable						2.50%
Note receivable, Payment Terms, Reduced Percent of Excess Operating Cash Flow						50.00%
Note receivable, Payment Terms, Initial Percent of Excess Operating Cash Flow						90.00%
Vizion Health | Loan Balance Threshold Payment Terms Change
Loans and Leases Receivable, Commitments, Fixed Rates		$ 15,000,000
Navion Senior Solutions [Member]
Number of Units in Real Estate Property | beds_or_units				48
Loan Term		10 years
Note Receivable Interest Rate						8.00%
Number of Additional Lease Renewal Options | renewalOptions					2
Loans and Leases Receivable, Commitments, Fixed Rates		$ 3,600,000
Not Secured By Real Estate [Member]
Loans and Leases Receivable, Net Amount	63,600,000	63,600,000
Note A [Member] | LCS Sagewood [Member]
Loans and Leases Receivable, Net Amount	107,342,000	107,342,000
Loans and Leases Receivable, Commitments, Fixed Rates		118,800,000
After 2021 [Member] | Senior Living Communities [Member]
Loans and Lease Receivable, Maximum Revolving Amount	15,000,000	15,000,000
Secured By Real Estate
Loans and Leases Receivable, Net Amount	$ 225,700,000	$ 225,700,000
June 2019 Transaction | Senior Living Communities [Member]
Number of Units in Real Estate Property | beds_or_units				248
Notes Receivable, Interest Rate, Master Credit Agreement						7.25%
Loan Term		5 years
Loans and Leases Receivable, Commitments, Fixed Rates		$ 32,700,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Bickford Senior Living [Member]
Loan Term	15 years
Note Receivable Interest Rate						10.00%
Loans and Leases Receivable, Commitments, Fixed Rates	$ 13,000,000
Increase in mortgage note receivable from sale of real estate	13,000,000
Working Capital | Timber Ridge OpCo
Loans and Leases Receivable, Net Amount	0	0
Loans and Leases Receivable, Commitments, Fixed Rates		5,000,000
Working Capital | Montecito Medical Real Estate
Loans and Leases Receivable, Net Amount	$ 2,108,000	2,108,000
Loans and Leases Receivable, Commitments, Fixed Rates		50,000,000
Current Period Real Estate Acquisition
Real Estate Investments During The Period		46,850,000
Current Period Real Estate Acquisition | Vizion Health
Real Estate Investments During The Period		40,250,000
Current Period Real Estate Acquisition | Navion Senior Solutions [Member]
Real Estate Investments During The Period		6,600,000
Property Held by Fund | Montecito Medical Real Estate
Real Estate Investments During The Period		$ 11,100,000
Number Of Real Estate Properties Acquired | properties	2

Equity Method Investment (Detai

Equity Method Investment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 16,300		$ 16,300
Income (Loss) from Equity Method Investments	(909)	$ (848)	(1,718)	$ (1,290)
Equity Method Investments	(4,300)		(4,300)
Noncontrolling Interest [Member] | Real Estate Operating Company [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	900		900
Timber Ridge OpCo
Financing Receivable, Revolving	$ 5,000		$ 5,000
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	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Debt Instrument [Line Items]
Revolving credit facility - unsecured	$ 25,000	$ 298,000
Bank term loans - unsecured	400,000
Convertible senior notes - unsecured	0	60,000
Unamortized loan costs	(7,343)	(4,069)
Debt, Long-term and Short-term, Combined Amount	1,434,744	1,499,285
Bank Term Loans [Member]
Debt Instrument [Line Items]
Bank term loans - unsecured	525,000	650,000
Senior Notes Due 2031
Debt Instrument [Line Items]
Bank term loans - unsecured	396,918		$ 0
Debt Instrument, Unamortized Discount	(3,082)
Private Placement Term Loans [Member]
Debt Instrument [Line Items]
Bank term loans - unsecured	400,000	400,000
Debt Instrument, Name, Fannie Mae Term Loans [Member]
Debt Instrument [Line Items]
Secured Debt	$ 95,169	$ 95,354

Debt (Schedule of Maturities of

Debt (Schedule of Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Long-term Debt, Fiscal Year Maturity [Abstract]
Long-Term Debt, Maturity, Remainder of Fiscal Year	$ 187
Long-term Debt, Maturities, Repayments of Principal in Next Rolling Twelve Months	250,389
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Two	475,408
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Three	75,425
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Four	143,761
Long-term Debt, Maturities, Repayments of Principal in Rolling Year Five	0
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five	496,917
Long-term Debt, Gross	1,442,087
Unamortized loan costs	(7,343)	$ (4,069)
Debt	$ 1,434,744	$ 1,499,285

Debt (Schedule of Unsecured Ter

Debt (Schedule of Unsecured Term Loans) (Details) $ in Thousands	Jun. 30, 2021USD ($)
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, 2021USD ($)
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	$ (1,062)
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	$ (1,068)
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	$ (1,125)
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	$ (378)

Debt (Schedule of Interest Expe

Debt (Schedule of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Schedule of Interest Expense [Abstract]
Interest expense on debt at contractual rates	$ 10,368	$ 10,569	$ 20,821	$ 23,572
Losses reclassified from accumulated other comprehensive income (loss) into interest expense	1,820	2,263	3,598	2,755
Capitalized interest	(17)	(19)	(34)	(117)
Amortization of debt issuance costs and debt discount	669	744	1,428	1,487
Total Interest Expense	$ 12,840	$ 13,557	$ 25,813	$ 27,697

Debt (Narrative) (Details)

Debt (Narrative) (Details) $ in Thousands, beds_or_units in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021properties	Jun. 30, 2021beds_or_units	Jun. 30, 2021	Dec. 31, 2020USD ($)
Convertible Debt	$ 0	$ 0					$ 60,000
Debt Leverage Limit, Coupon Change, Trigger		50.00%
Credit Facility, Current Revolving Borrowing Capacity	550,000	$ 550,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.20%
Debt Instrument, Variable Rate Basis, Minimum						1000.00%	1400.00%
Number of Real Estate Properties | properties				222
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	3,600	$ 3,600
Derivative, Fair Value, Net							$ (7,100)
Repayments of Convertible Debt		67,100
Long-term Debt, Gross	1,442,087	1,442,087
Debt Instrument, Convertible, Liquidation Preference, Value	6,100	6,100
Interest on Convertible Debt, Net of Tax	1,000
Proceeds from Issuance of Senior Long-term Debt		396,784	$ 0
Fair Value, Inputs, Level 2 [Member]
Interest rate swap liability	(3,633)	(3,633)	$ (7,150)
$250M Term Loan [Member]
Term Loans, Outstanding Balance	225,000	225,000
$300M Term Loan [Member]
Term Loans, Outstanding Balance	300,000	$ 300,000
Debt Instrument, Name, Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate		1.20%
Unused balance of the unsecured revolving credit facility	525,000	$ 525,000
Bank Term Loans [Member]
Debt Instrument, Basis Spread on Variable Rate		1.32%
Debt Instrument, Name, Fannie Mae Term Loans [Member]
Number of Real Estate Properties						13
Net Book Value of Real Estate Pledged Toward Mortgage	128,000	$ 128,000
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages	78,100	$ 78,100
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	17,100	$ 17,100
Debt Instrument, Interest Rate, Stated Percentage						4.60%
Debt Instrument, Name, Convertible Senior Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage						3.25%
$100M Term Loan [Member]
Term Loans, Outstanding Balance	100,000	$ 100,000
Debt Instrument, Basis Spread on Variable Rate		1.85%
Debt Instrument, Variable Rate Basis, Minimum						0.50%
Payment for Debt Extinguishment or Debt Prepayment Cost		$ (500)
Revolving Credit Facility [Member]
Debt Instrument, Maturity, Renewal Fee					0.6	10
Senior Notes Due 2031 | Senior Notes
Debt Instrument, Interest Rate, Stated Percentage						3.00%
Debt Instrument, Face Amount	400,000	400,000
Percentage of Issue Price On Face Value						0.99196%
Proceeds from Issuance of Senior Long-term Debt		392,300
Interest Rate Swap(s), Date Entered, March & June 2019 [Member] | Bank Term Loans [Member]
Derivative, Notional Amount	400,000	400,000
Interest Rate Swaps, Maturity Date, After June 2020 [Member]
Derivative, Notional Amount	$ 400,000	$ 400,000

Commitments and Contingencies_2

Commitments and Contingencies (Schedule of Loan Commitments) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Loans and Leases Receivable, Commitments, Fixed Rates	$ 274,700,000
Loans and Leases Receivable, Net Amount	(284,177,000)	$ (292,427,000)
Notes Receivable Funding Commitment	100,329,000
LCS Sagewood [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	117,100,000
Bickford Senior Living [Member]
Loans and Leases Receivable, Net Amount	(36,875,000)
Senior Living Communities [Member]
Loans and Leases Receivable, Net Amount	(44,411,000)
Montecito Medical Real Estate
Loans and Leases Receivable, Commitments, Fixed Rates	50,000,000
Loans and Leases Receivable, Net Amount	(2,100,000)
Note A [Member] | LCS Sagewood [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	118,800,000
Loans and Leases Receivable, Net Amount	(107,342,000)
Notes Receivable Funding Commitment	11,458,000
Development Commitment [Member] | Bickford Senior Living [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	42,900,000
Loans and Leases Receivable, Net Amount	(32,901,000)
Notes Receivable Funding Commitment	9,999,000
Development Commitment [Member] | 41 Management [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	22,200,000
Loans and Leases Receivable, Net Amount	(10,217,000)
Notes Receivable Funding Commitment	11,983,000
Revolving Credit Facility [Member] | Senior Living Communities [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	20,000,000
Loans and Leases Receivable, Net Amount	(11,711,000)
Notes Receivable Funding Commitment	8,289,000
Working Capital | 41 Management [Member]
Loans and Leases Receivable, Commitments, Fixed Rates	10,800,000
Loans and Leases Receivable, Net Amount	(9,092,000)
Notes Receivable Funding Commitment	1,708,000
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	(1,000,000)
Notes Receivable Funding Commitment	4,000,000
Working Capital | Montecito Medical Real Estate
Loans and Leases Receivable, Commitments, Fixed Rates	50,000,000
Loans and Leases Receivable, Net Amount	(2,108,000)
Notes Receivable Funding Commitment	47,892,000
Notes Receivable Remain Unfunded [Member]
Loans and Leases Receivable, Net Amount	$ (174,371,000)

Commitments And Contingencies_3

Commitments And Contingencies (Off Balance Sheet Credit Loss Liability Roll Forward Schedule) (Details)	6 Months Ended
	Jun. 30, 2021USD ($)
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal)	$ 946,000
Off-Balance Sheet, Credit Loss, Liability, Ending Balance	1,216,000
Accounting Standards Update 2016-13 [Member]
Off-Balance Sheet, Credit Loss, Liability, Ending Balance	$ 270,000

Commitments and Contingencies_4

Commitments and Contingencies (Schedule of Lease Commitments) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Maximum Commitment For All Active Development Projects	$ 31,295
Development in Process	(21,646)
Remaining Unfunded Development Commitment	9,649
Capital Improvement Commitment [Member]
Maximum Commitment For All Active Development Projects	2,800
Development in Process	(391)
Remaining Unfunded Development Commitment	2,409
Capital Improvement Commitment [Member] | Woodland Village [Member]
Maximum Commitment For All Active Development Projects	7,515
Development in Process	(7,425)
Remaining Unfunded Development Commitment	90
Capital Improvement Commitment [Member] | Senior Living Communities [Member]
Maximum Commitment For All Active Development Projects	9,930
Development in Process	(9,930)
Remaining Unfunded Development Commitment	0
Capital Improvement Commitment [Member] | Discovery Senior Living [Member]
Maximum Commitment For All Active Development Projects	900
Development in Process	(900)
Remaining Unfunded Development Commitment	0
Capital Improvement Commitment [Member] | Watermark Retirement [Member]
Maximum Commitment For All Active Development Projects	6,500
Development in Process	(3,000)
Remaining Unfunded Development Commitment	3,500
Capital Improvement Commitment [Member] | Navion Senior Solutions [Member]
Maximum Commitment For All Active Development Projects	3,650
Development in Process	0
Remaining Unfunded Development Commitment	$ 3,650

Commitments And Contingencies_5

Commitments And Contingencies (Schedule of Rent Concessions) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Lease Payment Deferral [Member]
Operating Lease, Lease Income	$ 19,080
Lease Payment Deferral [Member] | Lease Payment Deferral 2020
Operating Lease, Lease Income	4,982
Lease Payment Deferral [Member] | Rent Deferred Second Quarter of 2021
Operating Lease, Lease Income	9,901
Lease Payment Deferral [Member] | Rent Deferred Six Months of 2021
Operating Lease, Lease Income	14,098
Lease Payment Deferral [Member] | Bickford Senior Living [Member]
Operating Lease, Lease Income	14,000
Lease Payment Deferral [Member] | Bickford Senior Living [Member] | Lease Payment Deferral 2020
Operating Lease, Lease Income	3,750
Lease Payment Deferral [Member] | Bickford Senior Living [Member] | Rent Deferred Second Quarter of 2021
Operating Lease, Lease Income	6,500
Lease Payment Deferral [Member] | Bickford Senior Living [Member] | Rent Deferred Six Months of 2021
Operating Lease, Lease Income	10,250
Lease Payment Deferral [Member] | Holiday Acquisition Holdings [Member]
Operating Lease, Lease Income	1,200
Lease Payment Deferral [Member] | Holiday Acquisition Holdings [Member] | Rent Deferred Second Quarter of 2021
Operating Lease, Lease Income	1,200
Lease Payment Deferral [Member] | Holiday Acquisition Holdings [Member] | Rent Deferred Six Months of 2021
Operating Lease, Lease Income	1,200
Lease Payment Deferral [Member] | Other Than Bickford and Holiday
Operating Lease, Lease Income	3,880
Lease Payment Deferral [Member] | Other Than Bickford and Holiday | Lease Payment Deferral 2020
Operating Lease, Lease Income	1,232
Lease Payment Deferral [Member] | Other Than Bickford and Holiday | Rent Deferred Second Quarter of 2021
Operating Lease, Lease Income	2,201
Lease Payment Deferral [Member] | Other Than Bickford and Holiday | Rent Deferred Six Months of 2021
Operating Lease, Lease Income	2,648
Lease Abatement [Member]
Operating Lease, Lease Income	2,150
Lease Abatement [Member] | Lease Abatement for 2020
Operating Lease, Lease Income	2,150
Lease Abatement [Member] | Bickford Senior Living [Member]
Operating Lease, Lease Income	2,100
Lease Abatement [Member] | Bickford Senior Living [Member] | Lease Abatement for 2020
Operating Lease, Lease Income	2,100
Lease Abatement [Member] | Other Than Bickford and Holiday
Operating Lease, Lease Income	50
Lease Abatement [Member] | Other Than Bickford and Holiday | Lease Abatement for 2020
Operating Lease, Lease Income	$ 50

Commitments And Contingencies_6

Commitments And Contingencies (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)propertiesbeds_or_units	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)
Maximum Commitment For All Active Development Projects	$ 31,295
Development in Process	21,646
Contingent Funding Commitment	$ 31,900
Number of Properties | properties	222
Lease deposit liabilities	$ 9,438	$ 10,638
Lease Payment Deferral [Member]
Operating Lease, Lease Income	19,080
Lease Abatement [Member]
Operating Lease, Lease Income	$ 2,150
Initial Interest Rate [Member]
Deferred Lease Payments, Accrual Interest Rate	8.00%
Discovery PropCo [Member]
Maximum Commitment For All Active Development Projects	$ 2,000
Bickford Senior Living [Member]
Number of Properties | properties	42
Bickford Senior Living [Member] | Lease Payment Deferral [Member]
Operating Lease, Lease Income	$ 14,000
Bickford Senior Living [Member] | Lease Abatement [Member]
Operating Lease, Lease Income	$ 2,100
Senior Living Communities [Member]
Number of Properties | properties	10
Holiday Acquisition Holdings [Member]
Number of Properties | properties	26
Lease deposit liabilities	$ 9,400		$ 1,800
Holiday Acquisition Holdings [Member] | Lease Payment Deferral [Member]
Operating Lease, Lease Income	1,200
Other Than Bickford and Holiday | Lease Payment Deferral [Member]
Operating Lease, Lease Income	3,880
Other Than Bickford and Holiday | Lease Abatement [Member]
Operating Lease, Lease Income	50
Development Commitment [Member] | Discovery PropCo [Member]
Development in Process	$ 1,000
Lease Inducement [Member]
Number of Properties | beds_or_units	6
Contingent Funding Commitment, Amount Funded	$ 1,500
Lease Inducement [Member] | Navion Senior Solutions [Member]
Contingent Funding Commitment, Amount Funded	1,000
Rent Deferred Second Quarter of 2021 | Lease Payment Deferral [Member]
Operating Lease, Lease Income	9,901
Rent Deferred Second Quarter of 2021 | Bickford Senior Living [Member] | Lease Payment Deferral [Member]
Operating Lease, Lease Income	6,500
Rent Deferred Second Quarter of 2021 | Holiday Acquisition Holdings [Member] | Lease Payment Deferral [Member]
Operating Lease, Lease Income	1,200
Rent Deferred Second Quarter of 2021 | Other Than Bickford and Holiday | Lease Payment Deferral [Member]
Operating Lease, Lease Income	$ 2,201
Rent Deferred Third Quarter of 2021 | Lease Payment Deferral [Member]
Number of Operators/Tenants | beds_or_units	2
Rent Deferred Third Quarter of 2021 | Bickford Senior Living [Member] | Lease Payment Deferral [Member]
Operating Lease, Lease Income	$ 1,500
Rent Deferred Third Quarter of 2021 | Holiday Acquisition Holdings [Member] | Lease Payment Deferral [Member]
Operating Lease, Lease Income	600
Rent Deferred Third Quarter of 2021 | Other Than Bickford and Holiday | Lease Payment Deferral [Member]
Operating Lease, Lease Income	$ 900
Rent Deferred Last 6 months of 2021 | Lease Payment Deferral [Member]
Number of Operators/Tenants | beds_or_units	1
Rent Deferred Last 6 months of 2021 | Other Than Bickford and Holiday | Lease Payment Deferral [Member]
Operating Lease, Lease Income	$ 700

Equity (Schedule of Dividends D

Equity (Schedule of Dividends Declared) (Details) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Common Stock, Dividends, Per Share, Declared	$ 0.90	$ 1.1025	$ 1.1025	$ 1.1025	$ 2.0025	$ 2.205
Declared December 15, 2020
Common Stock, Dividends, Per Share, Declared					1.1025
Declared March 12, 2021
Common Stock, Dividends, Per Share, Declared					1.1025
Declared June 3, 2021
Common Stock, Dividends, Per Share, Declared					0.90
Declared November 7, 2019
Common Stock, Dividends, Per Share, Declared					1.05
Declared February 19, 2020
Common Stock, Dividends, Per Share, Declared					1.1025
Declared June 15, 2020
Common Stock, Dividends, Per Share, Declared					$ 1.1025

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 06, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Equity [Abstract]
Stock Issued During Period, Shares, New Issues					0	661,951
Shares Issued, Price Per Share		$ 73.62				$ 73.62
Proceeds from issuance of common shares, net						$ 47,904	$ (293)
Common Stock, Dividends, Per Share, Declared		$ 0.90	$ 1.1025	$ 1.1025	$ 1.1025	$ 2.0025	$ 2.205
Proceeds from issuance of common shares, net						$ 47,904	$ (293)
Declared August 6, 2021 | Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.90

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of Share-Based Payments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Share-based compensation	$ 992	$ 470	$ 6,438	$ 2,315

Stock-Based Compensation (Sch_2

Stock-Based Compensation (Schedule of Stock Option Valuation Assumptions) (Details)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of Stock Option Valuation Assumptions [Abstract]
Dividend yield	6.70%	5.10%
Expected volatility	48.10%	17.10%
Expected lives	2 years 10 months 24 days	2 years 10 months 24 days
Risk-free interest rate	0.33%	1.30%

Stock-Based Compensation (Sch_3

Stock-Based Compensation (Schedule Of Stock Option Activity) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Options outstanding January 1,	1,033,838	1,004,014
Options granted under 2012 Plan	652,000	592,000
Options exercised under 2012 Plan	(20,000)	(512,509)
Options outstanding, June 30,	1,665,838	1,073,005
Exercisable at June 30,	1,183,324	601,994
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 78.20	$ 83.68	$ 83.54	$ 74.35
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	69.20	90.32
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	60.52	$ 72.98
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period		10,500
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	$ 79.25	$ 81.09
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 7 months 17 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 3 months 29 days
2012 Plan [Member]
Options granted under 2012 Plan	12,500

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Options granted under 2012 Plan	652,000	592,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 0.2	$ 8.1
Aggregate Intrinsic Value Per Share Options Exercised	$ 9.27	$ 15.84
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 0.3
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	0.3
Unrecognized compensation cost	$ 3.8
2012 Plan [Member]
Options granted under 2012 Plan	12,500
Two Thousand Nineteen Stock Option Plan
Shares available for grants	2,117,336
Options granted under 2012 Plan	639,500
Expected To Be Recognized Remainder of 2021
Unrecognized compensation cost	$ 2
Expected To Be Recognized During 2022 [Member]
Unrecognized compensation cost	1.6
Expected To Be Recognized During 2023
Unrecognized compensation cost	$ 0.2

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, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income (loss) attributable to common stockholders	$ 39,183		$ 44,368		$ 74,513	$ 105,392
BASIC:
Weighted average common shares outstanding	45,850,599		44,650,002		45,577,843	44,631,797
Net income per common share - basic	$ 0.85		$ 0.99		$ 1.63	$ 2.36
DILUTED:
Weighted average common shares outstanding	45,850,599		44,650,002		45,577,843	44,631,797
Stock options	7,475		0		9,174	2,273
Convertible subordinated debentures	0		0		20,907	0
Weighed average dilutive common shares outstanding	45,858,074		44,650,002		45,607,924	44,634,070
Net income per common share - diluted	$ 0.85		$ 0.99		$ 1.63	$ 2.36
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	290,998		610,367		248,223	439,962
Common Stock, Dividends, Per Share, Declared	$ 0.90	$ 1.1025	$ 1.1025	$ 1.1025	$ 2.0025	$ 2.205

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, 2021	Jun. 30, 2020
Fair Value, Inputs, Level 2 [Member]
Interest rate swap liability	$ (3,633)	$ (7,150)

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Fair Value Measurements, Nonrecurring) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and Leases Receivable, Net Amount	$ 284,177	$ 292,427
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	284,177	292,427
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	303,018	321,021
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	547,941	945,078
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	550,000	948,000
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	886,803	554,207
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	$ 880,572	$ 575,292

Uncategorized Items - nhi-20210

Label	Element	Value
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	$ 233,000
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	233,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	47,951,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	(206,000)
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	(85,000)
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	10,791,000
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	382,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	41,266,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,227,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	50,550,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,226,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	1,845,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	5,446,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	992,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	470,000
Proceeds from Equity Method Investment, Distribution	us-gaap_EquityMethodInvestmentDividendsOrDistributions	0
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	2,705,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	1,000
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts	47,000
Noncontrolling Interest [Member]
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	52,000
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	57,000
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	48,000
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	(16,000)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	(233,000)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	(233,000)
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	0
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	382,000
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	10,791,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	0
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	0
Retained Earnings, Appropriated [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	61,023,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	44,368,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	35,332,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	39,183,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	50,550,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	41,266,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,227,000
AOCI Attributable to Parent [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	(8,699,000)
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	1,396,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	1,744,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	1,772,000
Additional Paid-in Capital [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	(206,000)
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	(85,000)
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	47,944,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	5,446,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	1,845,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	992,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	470,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	(2,705,000)
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	2,000
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts	47,000
Common Stock [Member]
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	0
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	0
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 7,000
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	0
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	$ 1,000
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	62,516
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	2,656
Common Stock [Member] | At-The-Market [Member]
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	661,951
Parent [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	$ 37,104,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	45,764,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	52,324,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	40,927,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	(206,000)
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	(85,000)
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	47,951,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	41,266,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,227,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	50,550,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	49,226,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	1,845,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	992,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	470,000
Share-based Payment Arrangement, Noncash Expense	us-gaap_ShareBasedCompensation	5,446,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	(2,705,000)
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	1,000
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts	47,000
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt	us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt	$ (6,076,000)