National Health Investors Inc. (NHI) Raised to Buy at Zacks Investment Research
National Health Investors Inc. (NYSE:NHI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $84.00 target price on the real estate investment trust’s stock. Zacks Investment Research’s target price points to a potential upside of 11.39% from the company’s current price.
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. “
Other analysts have also issued reports about the company. Cantor Fitzgerald assumed coverage on National Health Investors in a research report on Thursday, June 23rd. They issued a “hold” rating and a $70.00 price objective for the company. Mizuho lifted their price objective on National Health Investors from $66.00 to $77.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Wells Fargo & Co. reiterated a “hold” rating on shares of National Health Investors in a research report on Sunday, September 4th. Finally, Stephens assumed coverage on National Health Investors in a research report on Wednesday, September 14th. They issued an “overweight” rating and a $84.00 price objective for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $73.86.
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National Health Investors (NYSE:NHI) opened at 75.41 on Tuesday. The firm has a market cap of $2.95 billion, a P/E ratio of 17.39 and a beta of 0.61. National Health Investors has a one year low of $54.51 and a one year high of $82.53. The stock has a 50 day moving average price of $79.13 and a 200-day moving average price of $73.88.
National Health Investors (NYSE:NHI) last announced its earnings results on Friday, August 5th. The real estate investment trust reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.01. National Health Investors had a return on equity of 14.68% and a net margin of 69.69%. The company earned $61.20 million during the quarter, compared to analyst estimates of $58.08 million. During the same period last year, the company posted $1.17 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts predict that National Health Investors will post $4.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Wednesday, September 28th. National Health Investors’s dividend payout ratio (DPR) is presently 82.95%.
In other news, Director Robert A. Mccabe, Jr. sold 800 shares of National Health Investors stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $80.29, for a total transaction of $64,232.00. Following the transaction, the director now owns 10,021 shares in the company, valued at approximately $804,586.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.74% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Japan Co. Ltd boosted its position in National Health Investors by 1.1% in the first quarter. BlackRock Japan Co. Ltd now owns 1,809 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 20 shares during the period. Commerce Bank boosted its stake in National Health Investors by 0.3% in the second quarter. Commerce Bank now owns 6,575 shares of the real estate investment trust’s stock valued at $494,000 after buying an additional 20 shares during the last quarter. Creative Planning boosted its stake in National Health Investors by 2.6% in the second quarter. Creative Planning now owns 1,390 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 35 shares during the last quarter. Pinnacle Financial Partners Inc. boosted its stake in National Health Investors by 0.3% in the second quarter. Pinnacle Financial Partners Inc. now owns 27,443 shares of the real estate investment trust’s stock valued at $2,111,000 after buying an additional 94 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in National Health Investors by 0.7% in the second quarter. Nationwide Fund Advisors now owns 24,479 shares of the real estate investment trust’s stock valued at $1,838,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.
National Health Investors Company Profile
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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