National Health Investors Coverage Initiated by Analysts at Bank of America Corp. (NHI)
Equities research analysts at Bank of America Corp. started coverage on shares of National Health Investors (NYSE:NHI) in a research note issued to investors on Thursday, AnalystRatings.Net reports. The firm set a “neutral” rating and a $61.00 price target on the stock. Bank of America Corp.’s price objective suggests a potential upside of 5.88% from the company’s current price.
The analysts wrote, “We are initiating coverage on National Health Investors, Inc. (NHI) with a Neutral rating based on valuation and a $61 PO. NHI owns 171 properties in 30 states with 24 lessees. 49% of rents are from private pay seniors housing (SH) assets (including 13% via a RIDEA JV) with 41% from skilled-nursing facilities (SNFs). While we like NHI’s rent coverage and strong balance sheet, and expect SNF exposure to continue to decrease, in our view NHI’s valuation is full at current levels. We remain underweight healthcare within REITs*. While we do not foresee any major negative catalysts for the group, we see limited upside in an improving economy given the length of triple net leases. In addition, we expect rising rates will impact the pace and accretion from acquisitions.”
Shares of National Health Investors (NYSE:NHI) traded down 0.12% on Thursday, hitting $57.54. 43,960 shares of the company’s stock traded hands. National Health Investors has a 52-week low of $53.01 and a 52-week high of $72.99. The stock has a 50-day moving average of $60.99 and a 200-day moving average of $60.46. The company has a market cap of $1.604 billion and a price-to-earnings ratio of 13.43.
The company also recently declared a quarterly dividend, which is scheduled for Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.74 per share. This represents a $2.94 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Friday, December 27th.
A number of other firms have also recently commented on NHI. Analysts at Zacks upgraded shares of National Health Investors from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, November 26th. They now have a $65.10 price target on the stock. Separately, analysts at JMP Securities upgraded shares of National Health Investors from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, November 22nd. Finally, analysts at Stifel Nicolaus upgraded shares of National Health Investors from a “hold” rating to a “buy” rating in a research note to investors on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. National Health Investors currently has a consensus rating of “Buy” and a consensus price target of $63.03.
National Health Investors, Inc (NYSE:NHI) is a self-managed real estate investment trust (REIT), which invests in income-producing healthcare properties primarily in the long-term care and senior housing industries.
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