National Health Investors (NHI)
NYSE:NHI
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Earnings Data
Report Date
Aug 10, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.87Last Year’s EPS
0.79Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed significant operational and financial momentum: strong quarter-over-quarter and year-over-year growth in key metrics (net income per share, FFO, FAD), rapid expansion and investment activity in the higher-growth SHOP platform, a robust pipeline and ample liquidity. Offsetting these positives were near-term earnings pressure and guidance impacts driven by the timing of the large NHC disposition, underperformance in a small legacy Holiday same-store pool, tighter acquisition yields, modestly higher interest and G&A, and some timing/tax uncertainty related to capital gains deferral. Management framed the NHC sale as strategic for longer-term growth while acknowledging short-term earnings and timing headwinds.Company Guidance
Net Income and Per-Share Performance
Net income per share of $0.82 for Q1 2026, up 10.8% year-over-year; NAREIT FFO per share and normalized FFO per share increased to $1.23, up 7.9% and 7.0% YoY respectively.
Strong Cash Flow and FAD Growth
Funds available for distribution (FAD) for Q1 rose 11.6% year-over-year to $62.5 million; full-year FAD midpoint guidance of $242.2 million, up 4.1%.
Material SHOP Investment Momentum
Announced and closed SHOP investments of $212.4 million year-to-date (over $212 million in 2026), with invested capital through Q1 increasing more than 100% over the past year; $105.5 million closed in-quarter plus a subsequent $106.9 million 7-property Colorado portfolio.
SHOP NOI Surge (Pro Forma Growth)
Total SHOP NOI increased 188.1% compared to Q1 2025 driven by transitions and acquisitions; non-same-store portfolio (27 properties) estimated annualized NOI ~ $33 million, representing ~73% of total SHOP NOI.
Attractive Acquisition Economics on Recent Colorado Portfolio
7-property Colorado portfolio (532 units) with occupancy in the high-80% range, RevPOR ~ $5,300 and an initial NOI yield ~8.3% (7.8% after routine CapEx).
Portfolio Repositioning and Capital Recycling
Agreement to sell the 35-property NHC leased portfolio for $560 million to accelerate shift to private-pay senior housing; pro forma SHOP investment increases to ~24% of total portfolio and SHOP ~15% of annualized NOI.
Liquidity and Balance Sheet Capacity
Available liquidity of approximately $960 million (including $24.9 million cash, $391 million revolver capacity, forward equity and ATM capacity); ATM capacity restored to $500 million; forward equity escrow ~$44.2 million for 643,000 shares.
Guidance Reflecting Underlying Strength
Full-year GAAP net income midpoint of $14.37 per share (reflecting the large one-time NHC gain); midpoint NAREIT FFO guidance $4.77 per share (+2.6% vs. 2025); guidance includes $180 million additional future investments at an assumed average NOI yield of 7.8%.
Operational Wins in Triple Net and Lease Restructures
Cash lease revenue up ~7.7% YoY driven by acquisitions and NHC percentage rent true-ups; Bickford leases reset to fair market on April 1 with new base rent of $38.4 million (~$3.2 million higher than prior base), 2-3% escalators and pro forma EBITDARM coverage ~1.55x.
NHI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NHI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 04, 2026 | $75.71 | $73.09 | -3.46% |
Feb 26, 2026 | $86.70 | $83.13 | -4.12% |
Nov 06, 2025 | $73.59 | $75.04 | +1.98% |
Aug 06, 2025 | $70.22 | $71.98 | +2.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does National Health Investors (NHI) report earnings?
National Health Investors (NHI) is schdueled to report earning on Aug 10, 2026, Before Open (Confirmed).
What is National Health Investors (NHI) earnings time?
National Health Investors (NHI) earnings time is at Aug 10, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NHI EPS forecast?
NHI EPS forecast for the fiscal quarter 2026 (Q2) is 0.87.