National Health Investors, Inc. (NYSE:NHI) Plans $0.90 Quarterly Dividend

National Health Investors, Inc. (NYSE:NHI) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Shareholders of record on Friday, September 27th will be given a dividend of 0.90 per share by the real estate investment trust on Friday, November 1st. This represents a $3.60 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Friday, September 27th.

National Health Investors has raised its dividend payment by an average of 0.9% per year over the last three years. National Health Investors has a dividend payout ratio of 120.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect National Health Investors to earn $4.58 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 78.6%.

National Health Investors Price Performance

NYSE:NHI traded up $0.32 during mid-day trading on Wednesday, hitting $74.65. 232,983 shares of the company’s stock traded hands, compared to its average volume of 165,775. The company has a debt-to-equity ratio of 0.91, a quick ratio of 13.24 and a current ratio of 13.24. The firm’s 50 day simple moving average is $69.55 and its 200 day simple moving average is $63.16. National Health Investors has a 1 year low of $48.51 and a 1 year high of $76.65. The company has a market cap of $3.24 billion, a PE ratio of 24.48 and a beta of 1.02.

National Health Investors (NYSE:NHI) last posted its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.81 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.29). National Health Investors had a net margin of 41.40% and a return on equity of 10.41%. The business had revenue of $84.97 million for the quarter, compared to analysts’ expectations of $64.95 million. During the same quarter last year, the business posted $1.06 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts expect that National Health Investors will post 4.4 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert A. Mccabe, Jr. bought 437 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $65.83 per share, for a total transaction of $28,767.71. Following the completion of the acquisition, the director now owns 21,585 shares in the company, valued at $1,420,940.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Truist Financial raised their target price on shares of National Health Investors from $58.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, June 26th. Wells Fargo & Company raised their price target on shares of National Health Investors from $63.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, StockNews.com cut shares of National Health Investors from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.13.

About National Health Investors

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.