National Health Investors Inc. (NHI) Sees Unusually-High Trading Volume
National Health Investors Inc. (NYSE:NHI) shares saw strong trading volume on Monday . 456,634 shares changed hands during mid-day trading, an increase of 49% from the previous session’s volume of 306,075 shares.The stock last traded at $76.03 and had previously closed at $76.91.
A number of equities analysts have weighed in on the stock. JMP Securities reiterated a “hold” rating on shares of National Health Investors in a report on Thursday, March 31st. Zacks Investment Research upgraded shares of National Health Investors from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Wednesday, April 27th. Cantor Fitzgerald started coverage on shares of National Health Investors in a report on Thursday, June 23rd. They set a “hold” rating and a $70.00 target price on the stock. Finally, BMO Capital Markets lifted their target price on shares of National Health Investors from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, March 30th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.67.
The stock has a market cap of $2.92 billion and a PE ratio of 18.97. The stock has a 50 day moving average of $73.19 and a 200-day moving average of $66.55.
National Health Investors (NYSE:NHI) last released its quarterly earnings data on Friday, May 6th. The real estate investment trust reported $1.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by $0.01. The business had revenue of $59.02 million for the quarter, compared to analysts’ expectations of $57.81 million. During the same quarter in the previous year, the company posted $1.13 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts expect that National Health Investors Inc. will post $4.87 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Thursday, June 30th will be paid a $0.90 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $3.60 annualized dividend and a yield of 4.73%.
In other National Health Investors news, insider Kristin Sallee Gaines sold 8,652 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $73.98, for a total value of $640,074.96. Following the transaction, the insider now owns 53,089 shares in the company, valued at approximately $3,927,524.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert A. Mccabe, Jr. sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $71.61, for a total transaction of $89,512.50. Following the completion of the transaction, the director now owns 9,736 shares in the company, valued at approximately $697,194.96. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in 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 valued at $310,337,000 after buying an additional 335,445 shares in the last quarter. Schroder Investment Management Group bought a new position in National Health Investors during the fourth quarter valued at $4,973,000. Advantus Capital Management Inc raised its position in 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 valued at $3,080,000 after buying an additional 1,800 shares in the last quarter. Rhumbline Advisers raised its position in National Health Investors by 2.2% in the fourth quarter. Rhumbline Advisers now owns 62,343 shares of the real estate investment trust’s stock valued at $3,795,000 after buying an additional 1,320 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in National Health Investors by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 69,656 shares of the real estate investment trust’s stock valued at $4,240,000 after buying an additional 1,147 shares in 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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