National Health Investors (NHI) Cut to Underperform at BMO Capital Markets

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BMO Capital Markets downgraded shares of National Health Investors (NYSE:NHI) from a market perform rating to an underperform rating in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have $78.00 price target on the real estate investment trust’s stock.

Other analysts have also issued research reports about the stock. KeyCorp set a $65.00 price objective on shares of National Health Investors and gave the stock a sell rating in a research report on Thursday, December 20th. Zacks Investment Research raised shares of National Health Investors from a sell rating to a hold rating in a research report on Thursday, January 24th. ValuEngine raised shares of National Health Investors from a hold rating to a buy rating in a research report on Tuesday, December 11th. Finally, Cantor Fitzgerald reissued a hold rating and issued a $80.00 price objective on shares of National Health Investors in a research report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $77.13.

Shares of NYSE:NHI opened at $78.72 on Wednesday. National Health Investors has a one year low of $64.00 and a one year high of $84.57. The company has a quick ratio of 14.53, a current ratio of 14.53 and a debt-to-equity ratio of 0.89. The company has a market cap of $3.39 billion, a PE ratio of 14.36 and a beta of 0.51.

National Health Investors (NYSE:NHI) last issued its quarterly earnings data on Tuesday, February 19th. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.52). The firm had revenue of $74.00 million for the quarter, compared to analyst estimates of $75.16 million. National Health Investors had a net margin of 52.38% and a return on equity of 11.45%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. As a group, equities research analysts forecast that National Health Investors will post 5.57 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, March 29th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date is Thursday, March 28th. This is a positive change from National Health Investors’s previous quarterly dividend of $1.00. National Health Investors’s dividend payout ratio (DPR) is 72.99%.

In related news, CIO Kevin Carlton Pascoe sold 2,070 shares of National Health Investors stock in a transaction on Friday, December 14th. The shares were sold at an average price of $79.60, for a total value of $164,772.00. Following the completion of the sale, the executive now owns 25,123 shares of the company’s stock, valued at approximately $1,999,790.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert A. Mccabe, Jr. sold 1,250 shares of National Health Investors stock in a transaction on Monday, November 26th. The shares were sold at an average price of $75.41, for a total transaction of $94,262.50. Following the completion of the sale, the director now directly owns 13,120 shares of the company’s stock, valued at approximately $989,379.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,028 shares of company stock valued at $1,119,529. Company insiders own 5.63% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lasalle Investment Management Securities LLC bought a new stake in National Health Investors in the 4th quarter valued at about $57,125,000. Renaissance Technologies LLC boosted its stake in National Health Investors by 32.5% in the third quarter. Renaissance Technologies LLC now owns 636,240 shares of the real estate investment trust’s stock worth $48,093,000 after buying an additional 155,940 shares in the last quarter. Mesirow Financial Investment Management Equity Management boosted its stake in National Health Investors by 580.2% in the fourth quarter. Mesirow Financial Investment Management Equity Management now owns 160,659 shares of the real estate investment trust’s stock worth $12,136,000 after buying an additional 137,039 shares in the last quarter. BlackRock Inc. boosted its stake in National Health Investors by 2.9% in the third quarter. BlackRock Inc. now owns 4,145,027 shares of the real estate investment trust’s stock worth $313,321,000 after buying an additional 118,481 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in National Health Investors in the third quarter worth approximately $8,091,000. Institutional investors own 68.45% of the company’s stock.

About National Health Investors

Incorporated in 1991, National Health Investors, Inc (NYSE: NHI) is a real estate investment trust specializing in sale-leaseback, joint-venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments. NHI's portfolio consists of independent, assisted and memory care communities, entrance-fee retirement communities, skilled nursing facilities, medical office buildings and specialty hospitals.

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