Zacks Investment Research upgraded shares of National Health Investors Inc. (NYSE:NHI) from a hold rating to a buy rating in a research report sent to investors on Tuesday. Zacks Investment Research currently has $84.00 price target on the real estate investment trust’s stock.
According to Zacks, “National Health Investors, Inc. is a real estate investment trust which invests in income producing health care properties primarily in the long-term care industry. The company provides current income for distribution to stockholders through investments in health care related facilities, including long-term care facilities, acute care hospitals, medical office buildings, retirement centers and assisted living facilities. “
A number of other analysts have also recently commented on the stock. Stephens began coverage on shares of National Health Investors in a report on Wednesday, September 14th. They set an overweight rating and a $84.00 target price for the company. Cantor Fitzgerald reaffirmed a hold rating on shares of National Health Investors in a report on Friday, September 9th. Wells Fargo & Co. reaffirmed a hold rating on shares of National Health Investors in a report on Sunday, September 4th. Finally, Mizuho upped their target price on shares of National Health Investors from $66.00 to $77.00 and gave the company a neutral rating in a report on Monday, August 8th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $73.86.
Shares of National Health Investors (NYSE:NHI) traded up 1.40% during trading on Tuesday, reaching $75.89. 75,461 shares of the company were exchanged. National Health Investors has a 1-year low of $54.51 and a 1-year high of $82.53. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 17.50 and a beta of 0.61. The stock’s 50 day moving average is $78.96 and its 200 day moving average is $73.88.
National Health Investors (NYSE:NHI) last announced its earnings results on Friday, August 5th. The real estate investment trust reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.01. National Health Investors had a net margin of 69.69% and a return on equity of 14.68%. The business earned $61.20 million during the quarter, compared to analysts’ expectations of $58.08 million. During the same period in the prior year, the company earned $1.17 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Equities analysts anticipate that National Health Investors will post $4.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, September 30th will be given a dividend of $0.90 per share. The ex-dividend date is Wednesday, September 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.81%. National Health Investors’s dividend payout ratio is 82.95%.
In related news, Director Robert A. Mccabe, Jr. sold 800 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $80.29, for a total transaction of $64,232.00. Following the completion of the transaction, the director now owns 10,021 shares in the company, valued at $804,586.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.74% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Aperio Group LLC bought a new position in shares of National Health Investors during the first quarter worth $263,000. Nisa Investment Advisors L.L.C. raised its position in shares of National Health Investors by 31.4% in the first quarter. Nisa Investment Advisors L.L.C. now owns 23,000 shares of the real estate investment trust’s stock worth $1,530,000 after buying an additional 5,500 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of National Health Investors by 142.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,150 shares of the real estate investment trust’s stock worth $1,806,000 after buying an additional 15,955 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of National Health Investors by 43.8% in the first quarter. TIAA CREF Investment Management LLC now owns 201,065 shares of the real estate investment trust’s stock worth $13,375,000 after buying an additional 61,247 shares in the last quarter. Finally, BlackRock Group LTD raised its position in shares of National Health Investors by 4.9% in the first quarter. BlackRock Group LTD now owns 249,888 shares of the real estate investment trust’s stock worth $16,624,000 after buying an additional 11,699 shares in the last quarter. Hedge funds and other institutional investors own 67.49% of the company’s stock.
About National Health Investors
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.
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