National Health Investors (NYSE:NHI) Reaches New 12-Month High Following Dividend Announcement

National Health Investors, Inc. (NYSE:NHI) hit a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as $66.10 and last traded at $65.15, with a volume of 113857 shares. The stock had previously closed at $64.25.

The newly announced dividend which will be paid on Friday, August 2nd. Stockholders of record on Friday, June 28th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Friday, June 28th. National Health Investors’s payout ratio is 115.02%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NHI shares. Wells Fargo & Company upgraded shares of National Health Investors from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $55.00 to $63.00 in a research report on Monday, February 26th. Truist Financial increased their price target on National Health Investors from $55.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, April 4th. StockNews.com downgraded National Health Investors from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. BMO Capital Markets raised National Health Investors from a “market perform” rating to an “outperform” rating and set a $67.00 price objective on the stock in a research note on Tuesday, March 12th. Finally, Wedbush raised their target price on National Health Investors from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.50.

National Health Investors Stock Performance

The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 20.97 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a current ratio of 10.27 and a quick ratio of 10.27. The stock has a 50-day moving average of $60.95 and a 200 day moving average of $56.54.

Insider Transactions at National Health Investors

In other National Health Investors news, Director Charlotte A. Swafford acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $58.69 per share, for a total transaction of $586,900.00. Following the completion of the acquisition, the director now directly owns 110,185 shares of the company’s stock, valued at approximately $6,466,757.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On National Health Investors

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of National Health Investors in the 4th quarter valued at $25,448,000. Waterfront Capital Partners LLC acquired a new position in National Health Investors in the fourth quarter valued at about $21,863,000. Land & Buildings Investment Management LLC bought a new stake in shares of National Health Investors in the third quarter worth about $11,642,000. Principal Financial Group Inc. raised its position in shares of National Health Investors by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 1,870,632 shares of the real estate investment trust’s stock worth $104,475,000 after purchasing an additional 146,735 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of National Health Investors by 733.8% during the 1st quarter. Russell Investments Group Ltd. now owns 53,783 shares of the real estate investment trust’s stock valued at $3,379,000 after purchasing an additional 47,333 shares in the last quarter. Institutional investors own 62.51% of the company’s stock.

National Health Investors Company Profile

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