Zacks Investment Research upgraded shares of National Health Investors Inc. (NYSE:NHI) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $84.00 price target on the real estate investment trust’s stock.
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 brokerages have also weighed in on NHI. Cantor Fitzgerald started coverage on shares of National Health Investors in a research note on Thursday, June 23rd. They set a hold rating and a $70.00 target price for the company. Mizuho increased their target price on shares of National Health Investors from $66.00 to $77.00 and gave the stock a neutral rating in a research note on Monday, August 8th. Wells Fargo & Co. reaffirmed a hold rating on shares of National Health Investors in a research note on Sunday, September 4th. Finally, Stephens started 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 for the company. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. National Health Investors currently has an average rating of Hold and a consensus price target of $73.86.
Shares of National Health Investors (NYSE:NHI) opened at 77.45 on Tuesday. The stock has a market cap of $3.03 billion, a P/E ratio of 17.86 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 firm’s 50-day moving average is $78.72 and its 200 day moving average is $73.93.
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, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.01. The company earned $61.20 million during the quarter, compared to analyst estimates 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 last year, the firm posted $1.17 earnings per share. Analysts forecast 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. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $3.60 annualized dividend and a dividend yield of 4.65%. National Health Investors’s dividend payout ratio is presently 82.95%.
In other news, Director Robert A. Mccabe, Jr. sold 800 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $80.29, for a total transaction of $64,232.00. Following the sale, the director now 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 can be accessed through the SEC website. Insiders own 5.74% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Societe Generale acquired a new stake in shares of National Health Investors during the second quarter valued at about $103,000. Creative Planning boosted its stake in shares of 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. BNP Paribas Arbitrage SA boosted its stake in shares of 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. BlackRock Japan Co. Ltd boosted its stake in shares of 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. Finally, Huntington Asset Advisors Inc. acquired a new stake in shares of National Health Investors during the first quarter valued at about $166,000. 67.49% of the stock is currently owned by institutional investors and hedge funds.
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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