Bank of New York Mellon Corp Sells 22,500 Shares of National Health Investors, Inc. $NHI

Bank of New York Mellon Corp trimmed its position in National Health Investors, Inc. (NYSE:NHI) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 514,731 shares of the real estate investment trust’s stock after selling 22,500 shares during the period. Bank of New York Mellon Corp’s holdings in National Health Investors were worth $41,621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NHI. Norges Bank acquired a new position in National Health Investors during the fourth quarter valued at approximately $55,301,000. Freestone Grove Partners LP acquired a new stake in National Health Investors in the fourth quarter worth $21,869,000. Adage Capital Partners GP L.L.C. acquired a new stake in National Health Investors in the fourth quarter worth $19,856,000. Balyasny Asset Management L.P. boosted its position in shares of National Health Investors by 66.9% during the second quarter. Balyasny Asset Management L.P. now owns 614,960 shares of the real estate investment trust’s stock worth $43,121,000 after purchasing an additional 246,486 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of National Health Investors by 481.3% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,383 shares of the real estate investment trust’s stock worth $18,792,000 after purchasing an additional 195,716 shares in the last quarter. Institutional investors own 62.51% of the company’s stock.

Insider Buying and Selling

In related news, CEO D. Eric Mendelsohn bought 1,500 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $68.84 per share, for a total transaction of $103,260.00. Following the transaction, the chief executive officer owned 133,316 shares in the company, valued at $9,177,473.44. The trade was a 1.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert A. Mccabe, Jr. bought 890 shares of National Health Investors stock in a transaction dated Monday, June 15th. The shares were bought at an average cost of $71.65 per share, for a total transaction of $63,768.50. Following the completion of the acquisition, the director owned 44,159 shares in the company, valued at $3,163,992.35. This represents a 2.06% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.70% of the company’s stock.

National Health Investors Stock Performance

NYSE NHI opened at $80.49 on Friday. The firm has a 50-day moving average price of $75.02 and a two-hundred day moving average price of $79.72. National Health Investors, Inc. has a 12-month low of $67.94 and a 12-month high of $91.38. The company has a market capitalization of $3.90 billion, a P/E ratio of 25.96, a P/E/G ratio of 3.59 and a beta of 0.51. The company has a quick ratio of 8.20, a current ratio of 8.20 and a debt-to-equity ratio of 0.83.

National Health Investors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Tuesday, June 30th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Tuesday, June 30th. National Health Investors’s payout ratio is 118.71%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NHI shares. Truist Financial decreased their target price on National Health Investors from $89.00 to $81.00 and set a “buy” rating for the company in a research note on Friday, June 12th. Weiss Ratings cut National Health Investors from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 12th. BMO Capital Markets cut their price objective on National Health Investors from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $94.00 target price on shares of National Health Investors in a research note on Wednesday, April 22nd. Finally, Zacks Research cut National Health Investors from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 25th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.86.

About National Health Investors

National Health Investors, Inc (NYSE: NHI) is a specialized real estate investment trust (REIT) focused on owning and financing high-quality healthcare and senior housing facilities in the United States. The company’s portfolio encompasses a diverse range of properties, including skilled nursing centers, assisted living and memory care communities, behavioral health facilities, dialysis clinics, and medical office buildings. NHI typically enters into long-term net-lease agreements with experienced healthcare operators, providing stable and predictable rental income streams while enabling its tenants to concentrate on delivering quality care.

Since its founding in 1991 and initial public offering later that year, National Health Investors has pursued a disciplined growth strategy centered on strategic acquisitions, joint ventures, and selective development.