National Health Investors Inc. (NHI) Reaches New 1-Year High at $77.80
National Health Investors Inc. (NYSE:NHI)’s share price reached a new 52-week high on Friday . The company traded as high as $77.80 and last traded at $77.80, with a volume of 62,821 shares. The stock had previously closed at $77.08.
Several research firms have recently commented on NHI. Cantor Fitzgerald began coverage on National Health Investors in a research note on Thursday, June 23rd. They set a “hold” rating and a $70.00 target price for the company. JMP Securities reiterated a “hold” rating on shares of National Health Investors in a research note on Saturday, June 4th. Zacks Investment Research cut National Health Investors from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. Finally, BMO Capital Markets increased their target price on National Health Investors from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, March 30th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $68.67.
The stock’s 50 day moving average is $73.69 and its 200-day moving average is $66.77. The stock has a market cap of $2.99 billion and a price-to-earnings ratio of 19.43.
National Health Investors (NYSE:NHI) last posted 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 the consensus estimate of $57.81 million. National Health Investors’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 earnings per share. On average, equities research analysts predict that National Health Investors Inc. will post $4.87 earnings per share for the current 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 paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Tuesday, June 28th.
In related news, Director Robert A. Mccabe, Jr. sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $71.61, for a total value of $89,512.50. Following the transaction, the director now directly owns 9,736 shares of the company’s stock, valued at approximately $697,194.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kristin Sallee Gaines sold 8,652 shares of the firm’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 completion of the transaction, the insider now directly owns 53,089 shares in the company, valued at $3,927,524.22. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently modified their holdings of the stock. 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. Westfield Capital Management Co. LP increased its position in shares of National Health Investors by 81.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 436,425 shares of the real estate investment trust’s stock worth $26,565,000 after buying an additional 195,807 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of National Health Investors during the fourth quarter worth $4,973,000. California State Teachers Retirement System increased its position in shares of 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 worth $4,240,000 after buying an additional 1,147 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of 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 worth $3,795,000 after buying an additional 1,320 shares during the last quarter.
National Health Investors, Inc 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 is engaged in the business of owning and financing healthcare properties.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.