National Health Investors Inc. (NHI) Reaches New 1-Year High at $77.48
National Health Investors Inc. (NYSE:NHI) hit a new 52-week high on Wednesday . The stock traded as high as $77.48 and last traded at $77.44, with a volume of 129,623 shares. The stock had previously closed at $77.03.
A number of research firms have commented on NHI. Cantor Fitzgerald began coverage on National Health Investors in a report on Thursday, June 23rd. They issued a “hold” rating and a $70.00 target price for the company. JMP Securities reissued a “hold” rating on shares of National Health Investors in a report on Saturday, June 4th. Zacks Investment Research downgraded National Health Investors from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Finally, BMO Capital Markets raised their target price on National Health Investors from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, March 30th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. National Health Investors currently has an average rating of “Hold” and an average price target of $68.67.
The stock has a 50-day moving average of $72.30 and a 200-day moving average of $66.11. The stock has a market capitalization of $2.97 billion and a price-to-earnings ratio of 19.29.
National Health Investors (NYSE:NHI) last issued its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $1.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.17 by $0.01. The firm earned $59.02 million during the quarter, compared to analyst estimates of $57.81 million. The company’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS. On average, analysts forecast that National Health Investors Inc. will post $4.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Thursday, June 30th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.67%.
In related news, insider Kristin Sallee Gaines sold 8,652 shares of the company’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $73.98, for a total transaction of $640,074.96. Following the completion of the transaction, the insider now directly owns 53,089 shares in the company, valued at approximately $3,927,524.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kevin Carlton Pascoe sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $70.72, for a total value of $141,440.00. Following the transaction, the executive vice president now owns 19,241 shares of the company’s stock, valued at $1,360,723.52. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of National Health Investors by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 466,539 shares of the real estate investment trust’s stock worth $28,399,000 after buying an additional 14,600 shares during the last quarter. Advantus Capital Management Inc increased its position in shares of National Health Investors by 3.7% in the fourth quarter. Advantus Capital Management Inc now owns 50,606 shares of the real estate investment trust’s stock worth $3,080,000 after buying an additional 1,800 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of National Health Investors during the fourth quarter worth approximately $4,973,000. Vanguard Group Inc. increased its position in shares of National Health Investors by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 5,098,352 shares of the real estate investment trust’s stock worth $310,337,000 after buying an additional 335,445 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of National Health Investors by 2.9% in the fourth quarter. New York State Common Retirement Fund now owns 35,300 shares of the real estate investment trust’s stock worth $2,149,000 after buying an additional 1,000 shares during the last quarter.
National Health Investors, Inc (NHI) 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 investments. The Company’s portfolio consists of real estate investments in independent, assisted and memory care communities, entrance-fee communities, senior living campuses, skilled nursing facilities, specialty hospitals and medical office buildings.
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