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 on Tuesday. The firm presently has a $84.00 target price on the real estate investment trust’s stock. Zacks Investment Research’s price target indicates a potential upside of 11.39% from the stock’s previous close.
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. “
Several other equities analysts have also recently issued reports on the stock. Stephens began coverage on shares of National Health Investors in a research note on Wednesday, September 14th. They set an “overweight” rating and a $84.00 target price on the stock. 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. 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 research note on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $73.86.
National Health Investors (NYSE:NHI) opened at 75.41 on Tuesday. The company 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 52-week low of $54.51 and a 52-week high of $82.53. The stock has a 50 day moving average of $79.13 and a 200-day moving average of $73.88.
National Health Investors (NYSE:NHI) last announced its quarterly earnings results on Friday, August 5th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.01. The company had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $58.08 million. National Health Investors had a net margin of 69.69% and a return on equity of 14.68%. National Health Investors’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 EPS. On average, equities research analysts anticipate that National Health Investors will post $4.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be given 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 is Wednesday, September 28th. National Health Investors’s payout ratio is currently 82.95%.
In related news, Director Robert A. Mccabe, Jr. sold 800 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $80.29, for a total value of $64,232.00. Following the completion of the sale, the director now directly owns 10,021 shares of the company’s stock, valued at approximately $804,586.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.74% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in NHI. Societe Generale purchased a new stake in National Health Investors during the second quarter valued at about $103,000. Creative Planning raised 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 in the last quarter. BlackRock Japan Co. Ltd raised its stake 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 in the last quarter. BNP Paribas Arbitrage SA raised its stake in National Health Investors by 6,303.6% in the second quarter. BNP Paribas Arbitrage SA now owns 1,793 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 1,765 shares in the last quarter. Finally, Huntington Asset Advisors Inc. purchased a new stake in National Health Investors during the first quarter valued at about $166,000. 67.49% of the stock is owned by institutional investors.
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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