National Health Investors (NHI) Stock Overview
A self-managed real estate investment trust specializing in sale-leaseback, joint venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical facility investments. More details
| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 0/6 |
| Past Performance | 2/6 |
| Financial Health | 2/6 |
| Dividends | 5/6 |
NHI Community Fair Values
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Analyst Price Targets
National Health Investors, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$75.90 |
| 52 Week High | US$91.38 |
| 52 Week Low | US$67.94 |
| Beta | 0.54 |
| 1 Month Change | 5.27% |
| 3 Month Change | -10.64% |
| 1 Year Change | 5.17% |
| 3 Year Change | 41.08% |
| 5 Year Change | 15.24% |
| Change since IPO | 272.52% |
Recent News & Updates
Recent updates
Seeking Alpha • Jun 24
National Health Investors: The Silver Tsunami Makes This REIT Undervalued
Summary National Health Investors, Inc. remains a Buy, supported by strong financials, an attractive valuation, and a sustainable ~5% dividend yield. NHI's $560M asset sale and $107M SHOP investment accelerate its transition to the Senior Housing Operating Portfolio model, enhancing growth potential. Pro forma net debt/EBITDA expected at 2.3x following NHI's major sale and a ~74.5% FAD payout ratio based on guidance highlight NHI's balance sheet strength and dividend flexibility. The Silver Tsunami demographic tailwind and SHOP expansion offer significant upside, despite increased operational risks and potential shareholder base shifts. Read the full article on Seeking Alpha
Narrative Update • Jun 02
NHI: Improving Senior Housing Occupancy Will Support Higher Future P/E Multiples
Analysts have trimmed the National Health Investors fair value estimate from $89.00 to $85.75, reflecting updated price targets and model revisions that incorporate slightly higher discount rates, modestly lower revenue growth and profit margin assumptions, and a reduced future P/E outlook. Analyst Commentary Recent research updates on National Health Investors highlight a mix of optimism and caution, with several firms adjusting price targets while maintaining a generally constructive stance on the stock.Narrative Update • Apr 25
NHI: Improving Senior Housing Occupancy Will Support Future P/E Upside
Analysts have lifted National Health Investors' price targets, including moves such as Truist taking its view to $92 from $85. The firm cited expectations that the company can benefit from improving senior housing fundamentals and occupancy trends, which supports only a small adjustment in the updated fair value estimate to $89.00 from $89.38.Narrative Update • Apr 11
NHI: Occupancy Execution And ATM Flexibility Will Shape Future P/E
Analysts have nudged their fair value estimate for National Health Investors slightly higher, from $89.25 to $89.38, reflecting updated views on occupancy trends and refined assumptions around discount rates, margins, and future P/E following recent price target increases from firms on the Street. Analyst Commentary Recent price target changes and commentary provide a mixed but useful read on how the Street views National Health Investors, with a focus on occupancy, valuation assumptions, and execution in the senior housing operating portfolio.Narrative Update • Mar 27
NHI: Senior Housing Occupancy And ATM Offering Will Shape Future P/E
Analysts have nudged the fair value estimate for National Health Investors to $89.25 from $88.38, citing updated assumptions on revenue growth, profit margins, and future P/E, along with recent price target increases from the Street. Analyst Commentary Recent research highlights a mix of optimism and caution around National Health Investors, with price targets and ratings reflecting how analysts view the balance between current execution and future growth assumptions.Narrative Update • Mar 12
NHI: Senior Housing Occupancy Recovery Will Shape Cash Flows And P/E Outlook
Analysts have nudged their fair value estimate for National Health Investors higher, with the target moving from about $85.63 to $88.38. They cite updated assumptions for revenue growth, profit margins, discount rate and future P/E, alongside recent Street research pointing to supportive fundamentals for occupancy in the senior housing portfolio.Narrative Update • Feb 26
NHI: 2026 Sector Framework Will Guide Steady Cash Flows And P/E Recalibration
Analysts have adjusted their price target for National Health Investors to $85.63. This reflects updated views on discount rates, long term revenue growth assumptions, and a slightly lower future P/E multiple informed by recent REIT sector research, including Deutsche Bank's 2026 outlook.Narrative Update • Feb 10
NHI: Strong REIT Earnings And Aging Demand Will Support Steady Future Cash Flows
Narrative update on National Health Investors Analysts have nudged their price target on National Health Investors to US$90 from US$88, citing a generally strong Q3 earnings season for U.S. REITs. A majority of names reported results that exceeded Street expectations. Analyst Commentary Recent research updates around National Health Investors focus on how the trust fits into the broader U.S. REIT group following Q3 results and updated 2026 outlooks.Narrative Update • Jan 27
NHI: Aging Demand And Steady Q3 Execution Will Support Future Cash Flows
Narrative Update on National Health Investors Analysts have nudged their price targets for National Health Investors higher, with one going to $90 from $88. This reflects small refinements to fair value, discount rate, revenue growth, profit margin and future P/E assumptions following what they describe as a strong Q3 earnings season for U.S. REITs. Analyst Commentary Recent research on National Health Investors highlights a mix of optimism about execution and valuation, along with some caution about how those expectations line up with share performance.Narrative Update • Jan 12
NHI: Aging Demographics And Healthier Tenants Will Support Future Cash Flows
Analysts trimmed their fair value estimate for National Health Investors slightly to $86.00 from $86.25. Recent price target increases to $90 have leaned on views that strong Q3 results across U.S. REITs and aging demographics in senior housing continue to support the company’s long term earnings potential.Narrative Update • Dec 24
NHI: Aging Demographics Will Drive Future Senior Housing Cash Flow Resilience
Analysts have nudged their price target on National Health Investors slightly higher to $90, citing stronger than expected Q3 REIT earnings, improving revenue growth assumptions, and long term demand tailwinds from the aging U.S. population. Analyst Commentary Recent Street research has highlighted a constructive backdrop for National Health Investors, with incremental price target increases reflecting both company specific execution and broader sector strength among healthcare focused REITs. Bullish Takeaways Bullish analysts are raising price targets toward $90, signaling growing confidence that current valuation does not fully capture upside from improving fundamentals.Narrative Update • Dec 10
NHI: Senior Housing Demand And Margin Execution Will Shape Future Returns
Analysts have nudged their price target on National Health Investors slightly higher, to about $86. This reflects expectations for modestly lower discount rates, steady revenue growth, and incremental margin expansion supported by stronger than anticipated REIT earnings and favorable long term senior housing demand.Narrative Update • Nov 26
NHI: Senior Housing Demand and Macro Risks Will Shape Near-Term Performance
Analysts have increased their price target for National Health Investors from $83.14 to $85.00. They cite strong quarterly results among U.S. REITs and expectations for accelerated revenue growth in the senior housing sector as reasons for the adjustment.Narrative Update • Sep 05
US Senior Housing Demand Will Unlock Future Potential
Analysts maintain a steady fair value for National Health Investors at $83.14, citing strong Q2 results, a positive management outlook, expected rent increases, and potential value-creation opportunities as key drivers supporting the stock's outlook despite no change in the price target. Analyst Commentary Bullish analysts cited National Health Investors’ Q2 earnings beat and management’s improved forward outlook as key drivers behind upward price target revisions.Seeking Alpha • Mar 03
National Health Investors: Good Income Stock Poised For Senior Housing Boom
Summary National Health Investors offers a 5% dividend yield and strong growth prospects in senior housing and skilled nursing facilities. NHI's portfolio is geographically diversified and primarily held under triple net leases, ensuring stable income from senior housing and skilled nursing. NHI continues to recover, with notable rent growth, improved occupancy, and a robust acquisition pipeline, supporting long-term potential. At a forward P/FFO of 15.3, NHI provides reasonable valuation and attractive income and capital appreciation potential for long-term income investors. Read the full article on Seeking AlphaSeeking Alpha • Dec 12
National Health Investors: Back To 5% Yield Spells Buying Opportunity
Summary National Health Investors has seen a pullback in price, resulting in a more attractive valuation with a 5% yield. NHI is seeing occupancy and tenant rent coverage improvements. Further growth in occupancy to 90% could result in margin expansion. With a strong balance sheet, solid dividend yield, and growth potential, NHI stock offers an attractive risk-reward opportunity at the current price. Read the full article on Seeking AlphaSeeking Alpha • Sep 29
National Health Investors: From Struggles To Strength
Summary National Health Investors has shown strong portfolio improvements, driven by increased senior housing occupancy and a recovering industry landscape. NHI's financial performance is robust, with double-digit FFO growth in Q2 and significant NOI expansion. The stock currently yields 4.3% with a well-covered dividend and a healthy balance sheet, but a P/FFO of 18.2 suggests it's fully valued at present. Read the full article on Seeking Alpha
New Narrative • Sep 03
Senior Housing Growth And Decisive Investments Set To Boost Investor Confidence
The company's consistent financial performance and strategic investments indicate a strong potential for revenue and FFO growth.Shareholder Returns
| NHI | US Health Care REITs | US Market | |
|---|---|---|---|
| 7D | -0.1% | -1.1% | 0.1% |
| 1Y | 5.2% | 33.4% | 20.3% |
Return vs Industry: NHI underperformed the US Health Care REITs industry which returned 33.4% over the past year.
Return vs Market: NHI underperformed the US Market which returned 20.3% over the past year.
Price Volatility
| NHI volatility | |
|---|---|
| NHI Average Weekly Movement | 4.1% |
| Health Care REITs Industry Average Movement | 4.0% |
| Market Average Movement | 7.3% |
| 10% most volatile stocks in US Market | 16.7% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: NHI has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: NHI's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1991 | 32 | D. Mendelsohn | www.nhireit.com |
National Health Investors, Inc. is a self-managed real estate investment trust specializing in sale-leaseback, joint venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical facility investments. NHI's portfolio consists of independent living facilities, assisted living and memory care communities, entrance-fee retirement communities, senior living campuses, skilled nursing facilities and specialty hospitals. National Health Investors, Inc. was established on October 15th 1991 and was incorporated in 1991 in Maryland and is based in Murfreesboro, Tennessee.
National Health Investors, Inc. Fundamentals Summary
| NHI fundamental statistics | |
|---|---|
| Market cap | US$3.65b |
| Earnings (TTM) | US$147.89m |
| Revenue (TTM) | US$404.71m |
24.9x
P/E Ratio9.1x
P/S RatioIs NHI overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| NHI income statement (TTM) | |
|---|---|
| Revenue | US$404.71m |
| Cost of Revenue | US$89.11m |
| Gross Profit | US$315.60m |
| Other Expenses | US$167.72m |
| Earnings | US$147.89m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 3.05 |
| Gross Margin | 77.98% |
| Net Profit Margin | 36.54% |
| Debt/Equity Ratio | 82.8% |
How did NHI perform over the long term?
See historical performance and comparisonDividends
4.8%
Current Dividend Yield77%
Payout RatioDoes NHI pay a reliable dividends?
See NHI dividend history and benchmarks| National Health Investors dividend dates | |
|---|---|
| Ex Dividend Date | Jun 30 2026 |
| Dividend Pay Date | Aug 07 2026 |
| Days until Ex dividend | 14 days |
| Days until Dividend pay date | 24 days |
Does NHI pay a reliable dividends?
See NHI dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/13 21:57 |
| End of Day Share Price | 2026/07/13 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
National Health Investors, Inc. is covered by 20 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | BMO Capital Markets Equity Research |
| Juan Sanabria | BMO Capital Markets Equity Research |
| John Kim | BMO Capital Markets Equity Research |