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Land & Buildings nominates two directors to medical REIT NHI's board
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Land & Buildings nominates two directors to medical REIT NHI's board
Apr 9, 2025 3:13 PM

April 9 (Reuters) - Activist investor Jonathan Litt's

Land & Buildings Investment Management nominated two directors

to National Health Investors' ( NHI ) board on Wednesday,

escalating a proxy battle with the medical real-estate firm.

Land & Buildings, which owns about 1.3% of outstanding

shares in NHI, urged the medical real-estate investment firm's

shareholders to elect Adam Troso and Jim Hoffmann at an annual

stockholder meeting on May 21.

Hoffman is a former partner and senior vice president of

Wellington Management Company and Troso is a former managing

director at J.P. Morgan and Greenhill in Real Estate Investment

Banking, Land & Buildings said.

Litt launched a proxy fight at NHI in February and sought to

oust two board members, according to a media report.

The activist firm said on Wednesday that NHI's stock has

underperformed due to the company's structure and its board

being closely tied to one of its largest tenants, National

Healthcare ( NHC ).

Last year, it urged National Health Investors' ( NHI ) shareholders

to vote against two directors at the company's 2024 annual

general meeting.

NHI said on Tuesday that Land & Buildings has proposed no

new ideas for its business or strategy and added that their

demand to pick candidates was "unwarranted."

The company has a market capitalization of about $3.21

billion, according to data compiled by LSEG.

NHI did not immediately respond to Reuters' request for

comment.

(Reporting by Anshuman Tripathy in Bengaluru; Editing by

Shinjini Ganguli)

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