National Health Investors Inc. (NHI) Upgraded 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 report issued to clients and investors on Tuesday. The firm presently has a $84.00 price objective on the real estate investment trust’s stock. Zacks Investment Research’s price target would suggest a potential upside of 11.39% from the stock’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. “
NHI has been the topic of a number of other research reports. Cantor Fitzgerald restated a “hold” rating on shares of National Health Investors in a research note on Friday, September 9th. Wells Fargo & Co. restated a “hold” rating on shares of National Health Investors in a research note on Sunday, September 4th. Stephens started coverage on National Health Investors in a research note on Wednesday, September 14th. They set an “overweight” rating and a $84.00 price target on the stock. Finally, Mizuho boosted their price target on National Health Investors from $66.00 to $77.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $73.86.
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Shares of National Health Investors (NYSE:NHI) opened at 75.41 on Tuesday. The stock has a market capitalization of $2.95 billion, a price-to-earnings 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 firm’s 50-day moving average is $79.13 and its 200-day moving average is $73.88.
National Health Investors (NYSE:NHI) last issued its quarterly earnings results on Friday, August 5th. The real estate investment trust reported $1.22 earnings per share for the quarter, topping 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 business had revenue of $61.20 million for the quarter, compared to analyst estimates of $58.08 million. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that National Health Investors will post $4.88 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, September 30th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Wednesday, September 28th. National Health Investors’s payout ratio is presently 82.95%.
In other National Health Investors news, Director Robert A. Mccabe, Jr. sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $80.29, for a total value of $64,232.00. Following the completion of the transaction, the director now directly owns 10,021 shares of the company’s stock, valued at $804,586.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.74% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in National Health Investors by 6.5% in the first quarter. Legal & General Group Plc now owns 68,904 shares of the real estate investment trust’s stock worth $4,577,000 after buying an additional 4,209 shares during the period. Bayesian Capital Management LP acquired a new stake in National Health Investors during the first quarter worth approximately $269,000. Geode Capital Management LLC boosted its stake in National Health Investors by 11.2% in the first quarter. Geode Capital Management LLC now owns 230,371 shares of the real estate investment trust’s stock worth $15,324,000 after buying an additional 23,232 shares during the period. State Street Corp boosted its stake in National Health Investors by 4.7% in the first quarter. State Street Corp now owns 722,413 shares of the real estate investment trust’s stock worth $48,056,000 after buying an additional 32,283 shares during the period. Finally, Huntington Asset Advisors Inc. acquired a new stake in National Health Investors during the first quarter worth approximately $166,000. 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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