8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 5, 2009

NATIONWIDE HEALTH PROPERTIES, INC.
(Exact name of registrant as specified in its charter)

Maryland	1-9028	95-3997619
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

610 Newport Center Drive, Suite 1150, Newport Beach, CA	92660
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (949) 718-4400

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On August 5, 2009, we issued a press release, which sets forth our results of operations for the quarter and six months ended June 30, 2009. The press release referred to a supplemental information package that is available on our website, free of charge, at www.nhp-reit.com. A copy of the press release and the supplemental information package are attached hereto as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by this reference.

Such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description
99.1	Press release dated August 5, 2009.
99.2	Supplemental information package for the quarter and six months ended June 30, 2009.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NATIONWIDE HEALTH PROPERTIES, INC.

Date: August 5, 2009

By:  /s/ Abdo H. Khoury                                      
Abdo H. Khoury
Executive Vice President and Chief Financial & Portfolio Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press release dated August 5, 2009.
99.2	Supplemental information package for the quarter and six months ended June 30, 2009.

EX-99.1

Exhibit 99.1

Contact:
Abdo H. Khoury
Chief Financial and Portfolio Officer
(949) 718-4400

NHP REPORTS 2009 SECOND QUARTER RESULTS

Second Quarter Highlights

• Issued $47 Million of Equity and Retired $30 Million of Senior Notes

• Hearthstone Lease Restructure Completed

• Payout Ratio of 77% Supports $0.44 per Share Cash Dividend

• Balance Sheet and Liquidity Position Strong

NEWPORT BEACH, CA — August 5, 2009 — Nationwide Health Properties, Inc. (NYSE: NHP) today announced results of operations for the second quarter and six months ended June 30, 2009. Contemporaneously with this press release, the Company filed its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2009 with the Securities and Exchange Commission.

“NHP’s strong balance sheet is anchored by low leverage, ample liquidity and modest capital commitments through June 2011. Always looking to improve our balance sheet in this economic environment, to date we raised $105 million of equity and retired $30 million of our senior notes. On an enterprise value basis, our leverage is 35% and after our recent equity issuances we have about $199 million of cash as well as the full capacity of our $700 million credit facility,” commented Douglas M. Pasquale, NHP’s Chairman and Chief Executive Officer. “NHP is well positioned to take advantage of investment opportunities as they arise. We expect assets will begin to become available at attractive prices and we are prepared to make excellent investments as these opportunities present themselves,” Mr. Pasquale added.

SECOND QUARTER 2009 RESULTS OF OPERATIONS

The following table presents selected unaudited financial information for the second quarter and the six months ended June 30, 2009 as compared to the same period of 2008:

SELECTED FINANCIAL DATA
($ in thousands, except per share amounts)

	Three Months Ended June 30,
	2009		2008		$ Change			% Change
Revenue	$	97,311	$	93,071	$	4,240			4.6	%
Income from Continuing Operations	$	34,809	$	26,518	$	8,291			31.3	%
Net Income Attributable to NHP Common Stockholders	$	33,299	$	165,951	$	(132,652	)		-79.9	%
Net Income Attributable to NHP Common Stockholders Per Diluted Share	$	0.31	$	1.69	$	(1.38	)		-81.7	%
Diluted FFO	$	66,630	$	57,806	$	8,824			15.3	%
Recurring Diluted FFO	$	62,066	$	57,806	$	4,260			7.4	%
Diluted FFO Per Share	$	0.61	$	0.56	$	0.05			8.9	%
Recurring Diluted FFO Per Share	$	0.57	$	0.56	$	0.01			1.8	%
Diluted FAD	$	66,242	$	56,090	$	10,152			18.1	%
Recurring Diluted FAD	$	61,678	$	56,090	$	5,588			10.0	%
Diluted FAD Per Share	$	0.61	$	0.55	$	0.06			10.9	%
Recurring Diluted FAD Per Share	$	0.57	$	0.55	$	0.02			3.6	%

	Six Months Ended June 30,
	2009		2008		$ Change			% Change
Revenue	$	194,562	$	178,342	$	16,220			9.1	%
Income from Continuing Operations	$	64,209	$	49,461	$	14,748			29.8	%
Net Income Attributable to NHP Common Stockholders	$	82,453	$	201,344	$	(118,891	)		-59.0	%
Net Income Attributable to NHP Common Stockholders Per Diluted Share	$	0.78	$	2.07	$	(1.29	)		-62.3	%
Diluted FFO	$	128,197	$	114,099	$	14,098			12.4	%
Recurring Diluted FFO	$	123,633	$	114,099	$	9,534			8.4	%
Diluted FFO Per Share	$	1.18	$	1.12	$	0.06			5.4	%
Recurring Diluted FFO Per Share	$	1.14	$	1.12	$	0.02			1.8	%
Diluted FAD	$	127,668	$	110,661	$	17,007			15.4	%
Recurring Diluted FAD	$	123,104	$	110,661	$	12,443			11.2	%
Diluted FAD Per Share	$	1.18	$	1.09	$	0.09			8.3	%
Recurring Diluted FAD Per Share	$	1.14	$	1.09	$	0.05			4.6	%

2

NON-GAAP FINANCIAL MEASURES

Diluted Funds From Operations (“FFO”) and Diluted Funds Available for Distribution (“FAD”) are non-GAAP measures that we believe are important to understanding our operations. We believe diluted FFO is an important supplemental measure of operating performance because it excludes the effects of depreciation and amortization and gains (losses) from sales of facilities (both of which are based on historical costs and which may be of limited relevance in evaluating current performance). We believe diluted FAD is an important supplemental measure of operating performance because, like diluted FFO, it excludes the effects of depreciation and amortization and gains (losses) from sales of facilities (both of which are based on historical costs and which may be of limited relevance in evaluating current performance). It also excludes straight-lined rent and other non-cash items that have become more significant for us and our competitors over the last several years. We believe that net income is the most directly comparable GAAP measure to diluted FFO and diluted FAD. Reconciliations between net income and diluted FFO and net income and diluted FAD are included in the accompanying financial data. For guidance, we have also included in the accompanying financial data reconciliations between net income per share and diluted FFO and diluted FAD per share. We have also included recurring diluted FFO and recurring diluted FAD amounts which exclude the recognition of a gain on debt extinguishment in 2009.

SECOND QUARTER 2009 INVESTMENT ACTIVITY

During the second quarter of 2009, we invested $6.0 million in revenue producing capital expenditures at a blended yield of 8.5% on our existing triple net portfolio.

In July 2009, we reached an agreement with The Broe Group to acquire all of their interests in two of our medical office building joint ventures for $4.3 million.

On July 27, 2009, we amended our leases with Hearthstone Senior Services, L.P. (“Hearthstone”). Hearthstone’s only operations consist of the management of the 32 facilities under these leases. The lease terms were modified to (i) convert the annual Base Rent escalator to a fixed 3%, (ii) defer payment of the Supplemental Rent through December 31, 2011, (iii) tighten restrictions on distributions until such time as Hearthstone achieves and sustains defined rent coverage levels, (iv) provide for transfer of ownership of Hearthstone to us in the event of certain major events of default and (v) put in place certain bankruptcy protections and enhanced oversight rights for us.

SECOND QUARTER 2009 FINANCING TRANSACTIONS

On April 1, 2009, we retired $30.0 million of senior notes with an interest rate of 6.25% due in February 2013 for $25.4 million.

During the second quarter of 2009, we issued 1.8 million shares of our common stock through our controlled equity offering program at an average price of $27.14 per share, resulting in net proceeds of approximately $47.0 million.

From July 1, 2009 to August 5, 2009, we issued 2.1 million shares of our common stock through our controlled equity offering program at an average price of $27.80 per share, resulting in net proceeds of approximately $58.4 million.

3

2009 GUIDANCE

As a result of the common shares issued to date in 2009, we are decreasing by $0.01 per share the high end of our full-year 2009 recurring diluted FFO guidance from $2.26 per share to $2.25 per share. We are also decreasing by $0.01 per share the high end of our full-year 2009 recurring diluted FAD guidance from $2.24 per share to $2.23 per share. Our revised guidance for recurring diluted FFO of $2.22 per share to $2.25 per share includes the retirement of $30.0 million of senior notes, the second quarter and post second quarter end issuances of common shares that are discussed above and excludes any acquisitions, investments, impairments or additional capital transactions that could occur for the remainder of 2009. Current guidance reflects the recent amendment of the Hearthstone leases and does not include any Supplemental Rent previously or prospectively deferred. Beginning in 2009, certain costs associated with acquisitions which were previously capitalized are now required to be expensed. While our guidance does not assume any acquisitions for the remainder of 2009, we would incur certain costs that would be expensed for any acquisitions we may make and those costs could be material.

CONFERENCE CALL INFORMATION

We have scheduled a conference call and webcast on Thursday, August 6, 2009 at 8:30 a.m. Pacific time (11:30 a.m. Eastern time) to discuss these results. The conference call is accessible by dialing 866-713-8566 and referencing conference ID number 76511885 or by logging on to our website at http://www.nhp-reit.com. The international dial-in number is 617-597-5325. The earnings release and any additional financial information that may be discussed on the conference call will also be available at the same location on our website. A digitized replay of the conference call will be available from 11:30 a.m. Pacific time (2:30 p.m. Eastern time) that day until 9:00 p.m. Pacific time (Midnight Eastern time) on September 6, 2009. Callers can access the replay by dialing 888-286-8010 or 617-801-6888 and entering conference ID number 32754392. Webcast replays will also be available on our website for at least 12 months following the conference call. Our supplemental information package for the quarter and six months ended June 30, 2009 is available on our website, free of charge, at http://www.nhp-reit.com by selecting “Investor Relations” followed by “Financial Information” and is included in our Current Report on Form 8-K filed August 5, 2009 with the SEC also containing this release. Shareholders may receive free of charge a complete set of our audited financial statements upon request.

4

ABOUT NATIONWIDE HEALTH PROPERTIES, INC.

Nationwide Health Properties, Inc. is a real estate investment trust (REIT) that invests primarily in healthcare real estate in the United States. As of June 30, 2009, the Company’s portfolio of properties, including mortgage loans and properties owned by unconsolidated joint ventures, totaled 579 properties among the following segments: 279 senior housing facilities, 200 skilled nursing facilities, 82 medical office buildings, 11 continuing care retirement communities and 7 specialty hospitals. For more information on Nationwide Health Properties, Inc., visit our website at http://www.nhp-reit.com.

FORWARD LOOKING STATEMENTS

Certain information contained in this release includes forward-looking statements. Forward-looking statements include statements regarding our expectations, beliefs, intentions, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements which are not statements of historical facts. These statements may be identified, without limitation, by the use of forward-looking terminology such as “may,” “will,” “anticipates,” “expects,” “believes,” “intends,” “should” or comparable terms or the negative thereof. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements. Risks and uncertainties associated with our business include (without limitation) the following: deterioration in the operating results or financial condition, including bankruptcies, of our tenants; non-payment or late payment of rent, interest or loan principal amounts by our tenants; our reliance on two tenants for a significant percentage of our revenue; occupancy levels at certain facilities; our level of indebtedness; changes in the ratings of our debt securities; maintaining compliance with our debt covenants; access to the capital markets and the cost and availability of capital; government regulations, including changes in the reimbursement levels under the Medicare and Medicaid programs; the general distress of the healthcare industry; increasing competition in our business sector; the effect of economic and market conditions and changes in interest rates; the amount and yield of any additional investments; risks associated with acquisitions, including our ability to identify and complete favorable transactions, delays or failures in obtaining third party consents or approvals, the failure to achieve perceived benefits, unexpected costs or liabilities and potential litigation; the ability of our tenants to pay contractual rent and/or interest escalations in future periods; the ability of our tenants to obtain and maintain adequate liability and other insurance; our ability to attract new tenants for certain facilities; our ability to sell certain facilities for their book value; our ability to retain key personnel; potential liability under environmental laws; the possibility that we could be required to repurchase some of our senior notes; the rights and influence of holders of our outstanding preferred stock; changes in or inadvertent violations of tax laws and regulations and other factors that can affect our status as a real estate investment trust; and other factors discussed from time to time in our news releases, public statements and/or filings with the Securities and Exchange Commission, especially the “Risk Factors” sections of our Annual and Quarterly Reports on Forms 10-K and 10-Q. Forward-looking information is provided by us pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of these factors. We disclaim any intent or obligation to update these forward-looking statements.

***Financial Tables to Follow***

5

NATIONWIDE HEALTH PROPERTIES, INC.
CONSOLIDATED INCOME STATEMENTS
(In thousands, except per share data)
(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2009			2008			2009			2008
Revenue:
Triple-net lease rent	$	73,650		$	70,583		$	147,913		$	139,656
Medical office building operating rent		17,003			15,939			33,656			26,870
		90,653			86,522			181,569			166,526
Interest and other income		6,658			6,549			12,993			11,816
		97,311			93,071			194,562			178,342
Expenses:
Interest and amortization of deferred financing costs		23,247			25,507			47,319			50,246
Depreciation and amortization		30,892			28,788			61,919			56,070
General and administrative		6,973			6,407			13,904			12,904
Medical office building operating expenses		7,128			6,699			13,962			11,562
		68,240			67,401			137,104			130,782
Operating income		29,071			25,670			57,458			47,560
Income from unconsolidated joint ventures		1,174			848			2,187			1,901
Gain on debt extinguishment, net		4,564			—			4,564			—
Income from continuing operations		34,809			26,518			64,209			49,461
Discontinued operations
Gains on sale of facilities, net		—			140,226			21,152			151,092
Income from discontinued operations		17			1,223			98			4,861
		17			141,449			21,250			155,953
Net income		34,826			167,967			85,459			205,414
Net (income) loss attributable to noncontrolling interests		(75	)		46			(102	)		55
Net income attributable to NHP		34,751			168,013			85,357			205,469
Preferred stock dividends		(1,452	)		(2,062	)		(2,904	)		(4,125	)
Income available to NHP common stockholders	$	33,299		$	165,951		$	82,453		$	201,344
Basic earnings per share (EPS):
Income from continuing operations attributable to NHP common stockholders	$	0.32		$	0.25		$	0.59		$	0.46
Discontinued operations attributable to NHP common stockholders		—			1.47			0.21			1.63
Net income attributable to NHP common stockholders	$	0.32		$	1.72		$	0.80		$	2.09
Diluted EPS:
Income from continuing operations attributable to NHP common stockholders	$	0.31		$	0.25		$	0.58		$	0.46
Discontinued operations attributable to NHP common stockholders		—			1.44			0.20			1.61
Net income attributable to NHP common stockholders	$	0.31		$	1.69		$	0.78		$	2.07
Weighted average shares outstanding for EPS:
Basic		103,089			96,351			102,724			95,813
Diluted		105,182			98,013			104,797			96,823

6

NATIONWIDE HEALTH PROPERTIES, INC.
RECONCILIATIONS OF NET INCOME TO NON-GAAP FINANCIAL MEASURES
(In thousands, except per share data)
(Unaudited)

Reconciliation of Net Income to Diluted FFO

	Three Months Ended June 30,						Six Months Ended June 30,
	2009			2008			2009			2008
Net income	$	34,826		$	167,967		$	85,459		$	205,414
Preferred stock dividends		(1,452	)		(2,062	)		(2,904	)		(4,125	)
Net (income) loss attributable to noncontrolling interests		(75	)		46			(102	)		55
Real estate related depreciation and amortization		30,567			28,888			61,374			57,476
Depreciation in income from unconsolidated joint ventures		1,312			1,131			2,618			2,246
Gains on sale of facilities, net		—			(140,226	)		(21,152	)		(151,092	)
FFO available to NHP common stockholders		65,178			55,744			125,293			109,974
Series B preferred dividend add-back		1,452			2,062			2,904			4,125
Diluted FFO		66,630			57,806			128,197			114,099
Gain on extinguishment of debt, net		(4,564	)		—			(4,564	)		—
Recurring diluted FFO	$	62,066		$	57,806		$	123,633		$	114,099
Weighted average shares outstanding for diluted FFO:
Diluted weighted average shares outstanding (1)		105,241			98,114			104,848			96,949
Series B preferred stock conversion add-back if not already converted		3,368			4,736			3,363			4,732
Fully diluted weighted average shares outstanding		108,609			102,850			108,211			101,681
Diluted FFO per share	$	0.61		$	0.56		$	1.18		$	1.12
Recurring diluted FFO per share	$	0.57		$	0.56		$	1.14		$	1.12
Dividends declared per common share	$	0.44		$	0.44		$	0.88		$	0.88
Recurring diluted FFO payout ratio		77	%		79	%		77	%		79	%
Recurring diluted FFO coverage		1.30			1.27			1.30			1.27

(1) Diluted weighted average shares outstanding includes the effect of all participating and non-participating share-based payment awards which for us consists of stock options and other share-based payment awards if the effect is dilutive. The dilutive effect of all share-based payment awards is calculated using the treasury stock method. Additionally, our redeemable OP units are included as if converted to common stock on a one-for-one basis.

7

NATIONWIDE HEALTH PROPERTIES, INC.
RECONCILIATIONS OF NET INCOME TO NON-GAAP FINANCIAL MEASURES
(In thousands, except per share data)
(Unaudited)

Reconciliation of Net Income to Diluted FAD

	Three Months Ended June 30,						Six Months Ended June 30,
	2009			2008			2009			2008
Net income	$	34,826		$	167,967		$	85,459		$	205,414
Preferred stock dividends		(1,452	)		(2,062	)		(2,904	)		(4,125	)
Net (income) loss attributable to noncontrolling interests		(75	)		46			(102	)		55
Real estate related depreciation and amortization		30,567			28,888			61,374			57,476
Gains on sale of facilities, net		—			(140,226	)		(21,152	)		(151,092	)
Straight-lined rent		(1,599	)		(2,759	)		(3,188	)		(5,597	)
Amortization of intangible assets and liabilities		(48	)		(150	)		(271	)		(274	)
Non-cash stock-based compensation expense		1,837			1,440			3,410			2,771
Deferred finance cost amortization		756			777			1,570			1,524
Lease commissions and tenant and capital improvements		(1,343	)		(1,047	)		(2,069	)		(1,894	)
Unconsolidated joint ventures:
Real estate related depreciation and amortization		1,312			1,131			2,618			2,246
Straight-lined rent		(12	)		—			(23	)		(10	)
Deferred finance cost amortization		21			23			42			42
FAD available to NHP common stockholders		64,790			54,028			124,764			106,536
Series B preferred dividends		1,452			2,062			2,904			4,125
Diluted FAD		66,242			56,090			127,668			110,661
Gain on extinguishment of debt, net		(4,564	)		—			(4,564	)		—
Recurring diluted FAD	$	61,678		$	56,090		$	123,104		$	110,661
Weighted average shares outstanding for diluted FAD:
Diluted weighted average shares outstanding (1)		105,241			98,114			104,848			96,949
Series B preferred stock add-back if not already converted		3,368			4,736			3,363			4,732
Fully diluted weighted average shares outstanding		108,609			102,850			108,211			101,681
Diluted FAD per share	$	0.61		$	0.55		$	1.18		$	1.09
Recurring diluted FAD per share	$	0.57		$	0.55		$	1.14		$	1.09
Dividends declared per common share	$	0.44		$	0.44		$	0.88		$	0.88
Diluted FAD payout ratio		77	%		80	%		77	%		81	%
Diluted FAD coverage		1.30			1.25			1.30			1.24

(1) Diluted weighted average shares outstanding includes the effect of all participating and non-participating share-based payment awards which for us consists of stock options and other share-based payment awards if the effect is dilutive. The dilutive effect of all share-based payment awards is calculated using the treasury stock method. Additionally, our redeemable OP units are included as if converted to common stock on a one-for-one basis.

8

NATIONWIDE HEALTH PROPERTIES, INC.
RECONCILIATION OF NET INCOME TO NON-GAAP FINANCIAL MEASURES
(In thousands, except per share data)

2009 Guidance
Reconciliation of Net Income to Recurring Diluted FFO and FAD Per Share

	Year Ended December 31, 2009
	Guidance
	Low			High
Net income	$	156,213		$	159,767
Preferred stock dividends		(5,810	)		(5,810	)
Real estate related depreciation and amortization		119,517			119,517
Depreciation in income from unconsolidated joint ventures		5,155			5,155
Minority interest — NHP/PMB		165			165
Gains on sale of facilities, net		(31,499	)		(31,499	)
FFO available to common stockholders		243,741			247,295
Series B preferred dividends		5,810			5,810
Diluted FFO		249,551			253,105
Gain on extinguishment of debt, net		(4,564	)		(4,564	)
Recurring diluted FFO		244,987			248,541
Straight-lined rent		(6,272	)		(6,272	)
Amortization of intangible assets and liabilities		(535	)		(535	)
Non-cash stock-based compensation expense		7,092			7,092
Deferred finance cost amortization		3,120			3,120
Lease commissions and tenant and capital improvements		(5,608	)		(5,608	)
Unconsolidated Joint Ventures:
Straight-lined rent		(27	)		(27	)
Deferred finance cost amortization		84			84
Recurring diluted FAD	$	242,841		$	246,395
Diluted FFO per share	$	2.26		$	2.29
Recurring diluted FFO per share	$	2.22		$	2.25
Recurring diluted FAD per share	$	2.20		$	2.23
Weighted average shares outstanding:
Diluted weighted average shares outstanding		105,354			105,354
NHP/PMB OP units		1,830			1,830
Series B preferred stock conversion		3,375			3,375
Total		110,559			110,559

9

NATIONWIDE HEALTH PROPERTIES, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)

	June 30,			December 31,
	2009			2008
	(Unaudited)
Assets
Investments in real estate:
Land	$	318,852		$	320,394
Buildings and improvements		3,078,118			3,079,819
		3,396,970			3,400,213
Less accumulated depreciation		(538,705	)		(490,112	)
		2,858,265			2,910,101
Mortgage loans receivable, net		110,902			112,399
Mortgage loan receivable from related party		47,500			47,500
Investments in unconsolidated joint ventures		50,765			54,299
Net real estate related investments		3,067,432			3,124,299
Cash and cash equivalents		121,729			82,250
Receivables, net		7,858			6,066
Asset held for sale		—			4,542
Intangible assets		103,666			109,434
Other assets		131,531			131,534
Total assets	$	3,432,216		$	3,458,125
Liabilities and Equity
Unsecured senior credit facility	$	—		$	—
Senior notes		994,233			1,056,233
Notes and bonds payable		438,612			435,199
Accounts payable and accrued liabilities		130,339			144,566
Total liabilities		1,563,184			1,635,998
Redeemable OP unitholder interests		55,070			56,778
Equity:
NHP stockholders’ equity
Series B convertible preferred stock		74,918			74,918
Common stock		10,449			10,228
Capital in excess of par value		1,845,817			1,786,193
Cumulative net income		1,642,246			1,556,889
Accumulated other comprehensive (loss) income		(608	)		1,846
Cumulative dividends		(1,763,129	)		(1,669,407	)
Total NHP stockholders’ equity		1,809,693			1,760,667
Noncontrolling interests		4,269			4,682
Total equity		1,813,962			1,765,349
Total liabilities and equity	$	3,432,216		$	3,458,125

10

EX-99.2

Exhibit 99.2

June 30, 2009 Supplemental Information

Disclaimer Certain information contained in this release includes forward-looking statements. Forward-looking statements include statements regarding our expectations, beliefs, intentions, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements which are not statements of historical facts. These statements may be identified, without limitation, by the use of forward-looking terminology such as "may," "will," "anticipates," "expects," "believes," "intends," "should" or comparable terms or the negative thereof. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements. Risks and uncertainties associated with our business include (without limitation) the following: deterioration in the operating results or financial condition, including bankruptcies, of our tenants; non-payment or late payment of rent, interest or loan principal amounts by our tenants; our reliance on two tenants for a significant percentage of our revenue; occupancy levels at certain facilities; our level of indebtedness; changes in the ratings of our debt securities; access to the capital markets and the cost and availability of capital; government regulations, including changes in the reimbursement levels under the Medicare and Medicaid programs; the general distress of the healthcare industry; increasing competition in our business sector; the effect of economic and market conditions and changes in interest rates; the amount and yield of any additional investments; risks associated with acquisitions, including our ability to identify and complete favorable transactions, delays or failures in obtaining third party consents or approvals, the failure to achieve perceived benefits, unexpected costs or liabilities and potential litigation; the ability of our tenants to pay contractual rent and/or interest escalations in future periods; the ability of our tenants to obtain and maintain adequate liability and other insurance; our ability to attract new tenants for certain facilities; our ability to sell certain facilities for their book value; our ability to retain key personnel; potential liability under environmental laws; the possibility that we could be required to repurchase some of our senior notes; the rights and influence of holders of our outstanding preferred stock; changes in or inadvertent violations of tax laws and regulations and other factors that can affect real estate investment trusts and our status as a real estate investment trust; and other factors discussed from time to time in our news releases, public statements and/or filings with the Securities and Exchange Commission, especially the "Risk Factors" sections of our Annual and Quarterly Reports on Forms 10-K and 10-Q. Forward-looking information is provided by us pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of these factors. We disclaim any intent or obligation to update these forward- looking statements.

Contents COMPANY FACT SHEET______________________________________________________________________ 3 FINANCIAL RESULTS_________________________________________________________________________ 4 Consolidated Income Statements Reconciliation of Net Income to Funds From Operations (FFO) Reconciliation of Net Income to Funds Available for Distribution (FAD) Reconciliation of 2009 Net Income Guidance to Diluted FFO and Diluted FAD Guidance Consolidated Balance Sheets Other Assets Capitalization Debt Maturities and Debt Composition Debt Covenants: Credit Facility & Bond Covenants Interest and Fixed Charge Coverage Unconsolidated Joint Venture Financial Statements Financial Measures Definitions INVESTMENTS & DISPOSITIONS________________________________________________________________ 24 2nd Quarter 2009 Investments Year to Date June 30, 2009 Investments Expected Dispositions Projected Funding Obligations through 2011 Triple-Net Lease Expirations and Mortgage Loans Receivable Principal Payments PORTFOLIO OVERVIEW_____________________________________________________________________ 31 Portfolio Summary Consolidated Portfolio Performance Metrics-Same Store and Total Tenant Benchmarks Geographic Benchmarks Unconsolidated JV Portfolio Performance Metrics Medical Office Building Portfolio Performance Metrics Medical Office Building Lease Expirations and Mortgage Loan Receivable Principal Payments Portfolio Performance Measures Definitions

Company Fact Sheet REIT structure provides opportunity to invest directly in real estate and indirectly in healthcare industry Quality healthcare real estate portfolio Long-term triple-net master leases with quality operators Strong affiliations with premiere hospital systems in growing medical office building markets Senior housing care a vital component of U.S. economy High dividend yield and high dividend coverage Financial stability Well positioned to take advantage of investment opportunities and to conservatively grow earnings and dividends NHP is one of the few healthcare REITs with investment grade ratings by Fitch, Moody's, and Standard & Poors. Nationwide Health Properties, Inc. (NHP), incorporated October 1985, is a publicly traded real estate investment trust (REIT) that invests in senior housing facilities, long-term care facilities and medical office buildings throughout the United States. NHP generally acquires real estate and then leases the assets under long-term triple-net master leases to senior housing and long-term care operators and various types of leases to multiple tenants in the case of medical office buildings. As a REIT specializing in healthcare real estate, NHP provides a focused investment strategy with a well diversified portfolio. NHP employs a conservative, long-term approach to real estate investments with an experienced professional management team having extensive operating, real estate and finance backgrounds. $4.3 billion in healthcare real estate 579 properties in 43 states 260 Assisted and Independent Living 186 Skilled Nursing 80 Medical Office Buildings 17 Other 36 Unconsolidated JV Facilities Over 78 multi-facility tenants Market Facts Enterprise Value $4.3 billion Closing Price $25.74 Market Capitalization $2.7 billion Dividend & Yield $1.76 (6.8%) 52 week range $18.13 - $39.99 Shares & OP Units 106.3 million Company Profile Investor Highlights Our Portfolio WI (6%) MA (6%) WA (6%) CA (12%) TX (13%) Credit Ratings Fitch BBB (stable) Moody's Baa2 (stable) S&P BBB- (positive outlook) as of June 30, 2009 as of June 30, 2009

FINANCIAL RESULTS

Consolidated Income Statements

Reconciliation of Net Income to Funds From Operations (FFO) See Financial Measures Definitions

Reconciliation of Net Income to Funds Available for Distribution (FAD) See Financial Measures Definitions

Reconciliation of 2009 Net Income Guidance to Diluted FFO and Diluted FAD Guidance See Financial Measures Definitions

Consolidated Balance Sheets

Other Assets

Capitalization

Capitalization (2) MOBs NHP/PMB 66 NHP/PMB Under Contruction 34 Equity Debt Investments 60 40 MrktCap TotDebt Investments 60 40 Undepreciated Book Basis Enterprise Value 61% Equity 39% Debt 65% Equity 35% Debt 65% Unsecured 35% Secured MOBs NHP/PMB 93 NHP/PMB Under Contruction 7 93% 7% Fixed Variable Debt Composition Based on total debt including NHP's share of unconsolidated joint venture

Debt Maturities and Debt Composition

Debt Covenants

Credit Facility Covenants

Bonds Covenants (Bonds Issued Prior to 2006)

New Bond Covenants (Bonds Issued After 2006)

Interest and Fixed Charge Coverage See Financial Measures Definitions

Unconsolidated Joint Venture Financial Statements - Balance Sheet

Unconsolidated Joint Venture Financial Statements - Income Statements

Financial Measures Definitions Adjusted EBITDA: We believe that Adjusted EBITDA is an important supplemental operating and liquidity measure primarily because it is used in the calculation of the Adjusted Interest Coverage Ratio and the Adjusted Fixed Charge Coverage Ratio and we present it solely for the purpose of being used in those calculations. Adjusted EBITDA is calculated by adding back any gains and losses on the sale of real estate and any impairments to EBITDA for a given period. We believe Adjusted EBITDA is most useful as a liquidity measure in the ratio calculations noted above to enable investors to determine and compare a company's ability to meet its interest and Fixed Charges obligations. However, the methodology for calculating it makes net income the most directly comparable GAAP measure. As such, we believe investors should consider Adjusted EBITDA, cash flows from operating activities and net income when evaluating our ability to meet our interest and Fixed Charges obligations. The usefulness of Adjusted EBITDA is limited because it doesn't reflect, among other things, required principal payments, cash expenditures, capital expenditures or capital commitments. Adjusted EBITDA does not represent net income or cash flows from operations as defined by GAAP and should not be considered as an alternative to either of those measures. Our calculation of Adjusted EBITDA may not be comparable to similar measures reported by other companies. Adjusted Fixed Charge Coverage Ratio: We believe that the Adjusted Fixed Charge Coverage Ratio is an important supplemental liquidity measure that reflects a company's ability to meet its interest and preferred dividend payment obligations and allows investors to compare interest and dividend paying capabilities among different companies. We calculate the Adjusted Fixed Charge Coverage Ratio by dividing Adjusted EBITDA by Fixed Charges. In addition, credit rating agencies utilize similar ratios in evaluating the credit ratings on our debt instruments. This ratio's usefulness is limited by the same factors that limit the usefulness of the components Adjusted EBITDA and Fixed Charges. Our calculation of the Adjusted Fixed Charge Coverage Ratio should not be considered an alternative to the ratio of earnings to fixed charges as defined by Item 503(d) of Regulation S-K and it may not be comparable to similar ratios reported by other companies. Adjusted Interest Coverage Ratio: We believe that the Adjusted Interest Coverage Ratio is an important supplemental liquidity measure that reflects a company's ability to meet its interest payment obligations and allows investors to compare interest paying capabilities among different companies. We calculate the Adjusted Interest Coverage Ratio by dividing Adjusted EBITDA by interest expense (including capitalized interest, if any). In addition, credit rating agencies utilize similar ratios in evaluating the credit ratings on our debt instruments. This ratio's usefulness is limited by the same factors that limit the usefulness of the component Adjusted EBITDA. Our calculations of the Adjusted Interest Coverage Ratio may not be comparable to similar ratios reported by other companies. EBITDA: We believe that EBITDA is an important supplemental operating and liquidity measure primarily because it is used in the calculation of Adjusted EBITDA which is in turn used in the calculation of the Adjusted Interest Coverage Ratio and the Adjusted Fixed Charge Coverage Ratio and we present it solely for the purpose of being used in those calculations. EBITDA is calculated by adding interest, taxes, depreciation and amortization to net income. The real estate industry uses EBITDA as a non-GAAP measure of both operating performance and liquidity. We believe it is most useful as a liquidity measure in the ratio calculations noted above to enable investors to determine and compare a company's ability to meet its interest and Fixed Charges obligations. However, the methodology for calculating it makes net income the most directly comparable GAAP measure. As such, we believe investors should consider EBITDA, cash flows from operating activities and net income when evaluating our ability to meet our interest and Fixed Charges obligations. The usefulness of EBITDA is limited because it doesn't reflect, among other things, required principal payments, cash expenditures, capital expenditures or capital commitments. EBITDA does not represent net income or cash flows from operations as defined by GAAP and should not be considered as an alternative to either of those measures. Our calculation of EBITDA may not be comparable to similar measures reported by other companies.

Financial Measures Definitions (2) FAD Payout Ratio and FFO Coverage: The FAD Payout Ratio is calculated by dividing the common dividend per share by diluted FAD per share for any given period. FAD Coverage is calculated by dividing diluted FAD per share by the common dividend per share for any given period. We believe that both of these amounts are important supplemental liquidity measures that enable investors to compare dividend security among REITs. Fixed Charges: Fixed Charges is a measure of the total interest and preferred stock dividend obligations of a company. It is calculated by adding interest expense (including capitalized interest, if any) and preferred stock dividends for any given period and is utilized in calculating the Adjusted Fixed Charge Coverage Ratio. It's usefulness is limited as, among other things, it does not include required principal payments or any other contractual obligations a company may have. Our calculation of Fixed Charges should not be considered an alternative to fixed charges as defined by Item 503(d) of Regulation S-K and it may not be comparable to Fixed Charges reported by other companies. Funds Available for Distribution ("FAD"): While net income and its related per share amounts as defined by generally accepted accounting principles ("GAAP") are the most appropriate earnings measures, we believe that FAD and its related per share amounts are important supplemental measures of operating performance. GAAP requires the use of straight-line depreciation of historical costs and implies that real estate values diminish predictably and ratably over time. However, real estate values have historically risen and fallen based on various market conditions and other factors. FFO was developed as a supplemental measure of operating performance primarily in order to exclude historical cost based depreciation and amortization and its effects as it does not generally reflect the actual change in value of real estate over time. FAD was developed as a supplemental measure of operating performance primarily to exclude non-cash revenues and expenses that are included in FFO. FAD is defined as net income (computed in accordance with GAAP) excluding gains and losses from the sale of real estate plus real estate related depreciation and amortization, plus or minus straight-lined rent (plus cash in excess of rent or minus rent in excess of cash), plus or minus amortization of above or below market lease intangibles, plus non-cash stock based compensation, plus deferred finance cost amortization plus any impairments minus lease commissions, tenant improvements and capital improvements paid. The same adjustments are made to reflect our share of these same items from unconsolidated joint ventures. We believe that the use of FAD and its related per share amounts and FFO and its related per share amounts in conjunction with the required GAAP disclosures provides investors with a more comprehensive understanding of the operating results of a real estate investment trust ("REIT") and enables investors to compare the operating results between REITs without having to account for differences caused by different depreciation assumptions and different non-cash revenues and expenses. Additionally, FAD is widely used by industry analysts as a measure of operating performance for equity REITs. FAD does not represent cash flow from operating activities or net income as defined by GAAP and, therefore should not be considered as an alternative to cash flow as a measure of liquidity or net income as the primary indicator of operating performance. Our calculations of FAD may not be comparable to FAD reported by other REITs or analysts that define it differently than we do. Funds from Operations ("FFO"): While net income and its related per share amounts as defined by generally accepted accounting principles ("GAAP") are the most appropriate earnings measures, we believe that FFO and its related per share amounts are important supplemental measures of operating performance. GAAP requires the use of straight-line depreciation of historical costs and implies that real estate values diminish predictably and ratably over time. However, real estate values have historically risen and fallen based on various market conditions and other factors. FFO was developed as a supplemental measure of operating performance primarily in order to exclude historical cost based depreciation and amortization and its effects as it does not generally reflect the actual change in value of real estate over time. We calculate FFO in accordance with the National Association of Real Estate Investment Trusts' definition. FFO is defined as net income (computed in accordance with GAAP) excluding gains and losses from the sale of real estate plus real estate related depreciation and amortization. The same adjustments are made to reflect our share of gains and losses from the sale of real estate and real estate related depreciation and amortization from unconsolidated joint ventures. We believe that the use of FFO and its related per share amounts in conjunction with the required GAAP disclosures provides investors with a

Financial Measures Definitions (3) more comprehensive understanding of the operating results of a real estate investment trust ("REIT") and enables investors to compare the operating results between REITs without having to account for differences caused by different depreciation assumptions. Additionally, FFO is widely used by industry analysts as a measure of operating performance for equity REITs. FFO does not represent cash flow from operating activities or net income as defined by GAAP and, therefore should not be considered as an alternative to cash flow as a measure of liquidity or net income as the primary indicator of operating performance. Our calculations of FFO may not be comparable to FFO reported by other REITs that do not define the term in accordance with the NAREIT definition or interpret that definition differently than we do. Gross Investment: We define Gross Investment as our total investment in a property which includes land, building, improvements, equipment as well as any other identifiable assets such as lease-up intangible assets, above market tenant and ground lease intangible assets (collectively "intangible assets") included on our balance sheets and/or below market tenant and ground lease intangible liabilities included in the caption "Accounts Payable and Accrued Liabilities" on our balance sheets. Recurring FAD: Recurring FAD excludes from FAD any material one-time items reflected in the financial statements for a given period. Recurring FFO: The NAREIT definition of FFO doesn't exclude impairments of assets. We believe that impairments are equivalent to losses on sale that are taken early due to the current requirements of GAAP, therefore we generally present Recurring FFO, which excludes impairments, for any period where our net income includes an impairment. We also exclude any material one-time items reflected in the financial statements for a given period.

INVESTMENTS & DISPOSITIONS

2nd Quarter 2009 Investments

Year to Date June 30, 2009 Investments

Expected Dispositions

Projected Funding Obligations through 2011 (as of June 30, 2009)

Conditional Pacific Medical Buildings Acquisition Obligations through 2011 (as of June 30, 2009)

Triple-Net Lease Expirations and Mortgage Loans Receivable Principal Payments

PORTFOLIO OVERVIEW

Portfolio Summary

Portfolio Performance Summary

Portfolio Overview Private Pay Medicare Medicaid Investments 73 10 17 Top 5 = 40% Top 10 = 55% Top 15 = 62% Asset Type Pay Source Locations Tenant/Operator WI (6%) MA (6%) CA (12%) TX (13%) (based on investment) (based on investment*) (based on revenue) WA (6%) *Investment includes all asset types Private Pay 75% Medicaid 16% Medicare 9% Skilled Assissted Other MOBs Investments 26 48 6 20 Independent and Assisted Living 48% Skilled Nursing 26% MOBs 20% Other 6%

Consolidated Portfolio Performance by Asset Type

Consolidated Portfolio Performance

Tenant Concentration

Geographic Performance Metrics

Geographic Performance Metrics

Portfolio Performance Summary | Asset Class Composition Trends (by Investment)

Portfolio Performance Summary | Private Pay Composition Trends (by Revenue)

Portfolio Performance Summary | Top Tenant Concentration Trends (by Revenue)

Unconsolidated JV Portfolio Performance Metrics

Medical Office Building Portfolio Performance Metrics

Medical Office Building Lease Expirations and Mortgage Loan Receivable Principal Payments

Portfolio Performance Measures Definitions Annualized Cash Rent/NOI: The most recent monthly total cash rent due from our tenants as of the end of the current reporting period multiplied by twelve. For our multi-tenant medical office building portfolio, NOI rather than cash rent is annualized. We use Annualized Cash Rent to calculate our EBITDARM, EBITDAR and EBITDAR - Capex coverages. Facility EBITDAR: Earnings before interest, taxes, depreciation, amortization and rent on an annualized basis. We believe EBITDAR is a good estimate of facility cash flows after payment of management fees. We use a standardized imputed management fee equal to 5% of the revenues our tenants or borrowers generate at each individual facility (Facility Revenues) which we believe represents typical management fees for our senior housing and long-term care portfolios. We receive periodic facility financial information from our tenants that we utilize to calculate EBITDAR. All facility financial information was derived solely from information provided by our tenants and borrowers and we have not verified such information. We use EBITDAR to calculate the EBITDAR (cash flow) coverage for our portfolio. Facility EBITDAR Coverage: Annualized EBITDAR divided by Annualized Cash Rent. This ratio is a measure of a facility's ability to cover its cash rent obligations. EBITDAR Coverage of 1.0X would indicate the EBITDAR is just sufficient to pay the cash rent. The higher the coverage, the better able a facility is to meet its rent obligations. This is the mid-range coverage calculation we utilize. Facility EBITDARM: Earnings before interest, taxes, depreciation, amortization, rent and management fees on an annualized basis. We believe EBITDARM is a good estimate of facility cash flows before payment of management fees. We use a standardized imputed management fee equal to 5% of the revenues our tenants or borrowers generate at each individual facility (Facility Revenues) which we believe represents typical management fees for our senior housing and long-term care portfolios. We receive periodic facility financial information from our tenants that we utilize to calculate EBITDARM. All facility financial information was derived solely from information provided by our tenants and borrowers and we have not verified such information. We use EBITDARM to calculate the EBITDARM (cash flow before management fee) coverage for our portfolio. Facility EBITDARM Coverage: Annualized EBITDARM divided by Annualized Cash Rent. This ratio is a measure of a facility's ability to cover its cash rent obligations assuming it doesn't have to pay its management fee. EBITDARM Coverage of 1.0X would indicate the EBITDARM is just sufficient to pay the cash rent. The higher the coverage, the better able a facility is to meet its rent obligations. This is the least restrictive coverage measure we utilize. Facility EBITDAR - Capex: Earnings before interest, taxes, depreciation, amortization and rent less minimum capital expenditures (capex) calculated on an annualized basis. We believe EBITDAR is a good estimate of facility cash flows after a reserve for minimum capital expenditures required to maintain a facility. We use a standardized imputed capital expenditure schedule in our calculations based on the type, size and age of each facility which we believe represents typical minimum capital expenditures for our senior housing and long-term care portfolios. We receive periodic facility financial information from our tenants that we utilize to calculate EBITDAR - Capex. All facility financial information was derived solely from information provided by our tenants and borrowers and we have not verified such information. We use EBITDAR - Capex to calculate the EBITDAR - Capex (cash flow after reserves for minimum capex requirements) coverage for our portfolio. Facility EBITDAR - Capex Coverage: Annualized EBITDAR - Capex divided by Annualized Cash Rent. This ratio is a measure of a facility's ability to cover its cash rent obligations after it makes the minimum capital expenditures required to maintain the facility. EBITDAR - - Capex Coverage of 1.0X would indicate the EBITDAR - Capex is just sufficient to pay the cash rent. The higher the coverage, the better able a facility is to meet its rent obligations. This is the most restrictive coverage measure we utilize. Facility Revenues: The revenues generated by each individual facility on an annualized basis. We receive periodic facility financial information from our tenants that we utilize to calculate Facility Revenues. All facility financial information was derived solely from information provided by our tenants and borrowers and we have not verified such information.

Portfolio Performance Measures Definitions (2) Gross Investment: We define Gross Investment as our total investment in a property which includes land, building, improvements, equipment as well as any other identifiable assets included in the caption Other Assets on our balance sheets. Items classified in Other Assets generally pertain to our medical office buildings and may include such things as tenant improvements, leasing commissions, above/(below) market lease value, lease in place value and other items. Monthly Revenue per Occupied Bed/Unit: For our senior housing and long-term care portfolio, monthly revenue per occupied bed or unit is derived by determining the monthly revenue generated by each individual facility divided by the total number of actual resident days for a 30-day month. All facility performance data were derived solely from information provided by our tenants and borrowers and we have not verified such information. Occupancy: For our senior housing and long-term care portfolio, occupancy represents a facility's actual resident days (total number of beds or units occupied multiplied by the number of days in the period) divided by the total resident capacity (total number of beds or units in service for the period multiplied by the number of days in the period). For medical office buildings, facility occupancy represents the leased square feet divided by the total rentable square feet. In all cases (senior housing, long-term care and medical office buildings), the reporting period represents the month prior to quarter end. All facility performance data were derived solely from information provided by our tenants and borrowers and we have not verified such information. NOI: Net operating income ("NOI") is a non-GAAP supplemental financial measure used to evaluate the operating performance of our facilities. We define NOI for our triple-net leases segment as rent revenues. For our multi-tenant leases segment, we define NOI as revenues minus medical office building operating expenses. In some cases, revenue for medical office buildings includes expense reimbursements for common area maintenance charges. NOI excludes interest expense and amortization of deferred financing costs, depreciation and amortization expense, general and administrative expense and discontinued operations. We present NOI as it effectively presents our portfolio on a "net" rent basis and provides relevant and useful information as NOI (continued): it measures the operating performance at the facility level on an unleveraged basis. We use NOI to make decisions about resource allocations and to assess the property level performance of our properties. Furthermore, we believe that NOI provides investors relevant and useful information because it measures the operating performance of our real estate at the property level on an unleveraged basis. We believe that net income is the GAAP measure that is most directly comparable to NOI. However, NOI should not be considered as an alternative to net income as the primary indicator of operating performance as it excludes the items described above. Additionally, NOI as presented above may not be comparable to other REITs or companies as their definitions of NOI may differ from ours. Q-Mix: For our long-term care portfolio, Q-Mix (abbreviation for Quality-Mix) refers to the combination of a Tenant's private and medicare revenues as a percentage of total revenues. As private and medicare rates are generally higher at long-term care facilities, Tenants can oftentimes improve margins by selectively targeting medicare and private-pay residents. As such, an increase in the Q-Mix generally results in a corresponding increase in a Tenant's total revenues. Rentable Square Feet: For our medical office building portfolio, rentable square feet represents the area measured to the inside finished surface of the dominant portion of the permanent outer building walls, excluding any major vertical penetrations of the floor. An add-on or load factor is used to charge the tenant for a percentage of the common areas, so that the total rentable square footage for the building is equal to sum of each floor's rentable area. Same Property (Performance): Results shown under the Same Property caption present the financial or other performance measures for only those facilities that were in our portfolio for more than twelve month at the end of all periods presented.