National Health Investors (NHI) AI Stock Analysis

• Market Cap: $3.58B
• Dividend Yield: 4.81%
• Average Volume (3M): 206.60K
• Price to Earnings (P/E): 24.0
• Beta (1Y): 0.36
• Revenue Growth: 8.04%
• EPS Growth: 9.20%
• Country: US
• Employees: 30
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Healthcare Facilities
• EPS (TTM): 0.69
• Shares Outstanding: 47,473,160
• 10 Day Avg. Volume: 204,212
• 30 Day Avg. Volume: 206,599
• PEG Ratio: 68.92
• Price to Book (P/B): 2.22
• Price to Sales (P/S): 9.07
• P/FCF Ratio: 14.92
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $85.25
• Price Target Upside: 11.00% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 75 Outperform
• Price Target: $85.00 ▲(10.68% Upside)

National Health Investors demonstrates strong financial performance and positive earnings call insights, particularly with growth in the SHOP portfolio and strategic investments. However, technical indicators suggest caution with potential overbought conditions, and valuation metrics indicate moderate pricing. The company's ability to manage operational challenges and leverage its strong balance sheet will be crucial for sustaining growth.

Positive Factors

Strong SHOP Portfolio Growth

The significant growth in the SHOP portfolio indicates a successful strategic shift, enhancing revenue streams and market position in senior housing.

Increased Guidance and Investment Activity

Raising guidance and active investments reflect strong business confidence and potential for sustained financial growth, reinforcing investor trust.

Strong Balance Sheet

A strong balance sheet with low leverage and high liquidity provides financial flexibility, supporting growth initiatives and risk management.

Negative Factors

Same-Store SHOP NOI Decline

Declining same-store NOI indicates operational challenges, potentially affecting profitability and requiring strategic adjustments to improve performance.

NHC Lease Renewal Uncertainty

Lease renewal uncertainty could lead to legal disputes, impacting revenue stability and necessitating careful management to mitigate financial risks.

Challenges with SHOP Operations

Operational challenges in SHOP could hinder growth and profitability, requiring effective management to address personnel and cost issues.

National Health Investors Business Overview & Revenue Model

Company Description

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.

How the Company Makes Money

National Health Investors generates revenue primarily through leasing its healthcare properties to operators, who pay rent based on long-term lease agreements. The company typically structures its leases to include fixed rent increases, ensuring a steady and predictable income stream. Additionally, NHI may earn income through mortgage financing and property management services. Key revenue streams include rental income from its diverse portfolio of properties, which consists of independent living, assisted living, and skilled nursing facilities. The company's strategic partnerships with experienced healthcare operators enhance its operational efficiency and tenant stability, contributing to its overall financial performance. NHI's focus on the growing demand for senior housing and healthcare services positions it well within a market with favorable long-term trends.

National Health Investors Financial Statement Overview

Summary

National Health Investors showcases a solid financial standing with consistent revenue and profit growth, strong profitability margins, and efficient cash flow management. The balance sheet is stable, though leverage is moderately high, which is typical in the REIT industry. The company is well-positioned for future growth, but must continue to manage its debt levels carefully to mitigate financial risk.

Income Statement

The company's gross profit margin remains strong, hovering around 96.7% in TTM, indicating efficient cost management. The net profit margin increased to approximately 41.2% in TTM, demonstrating improved profitability. Revenue growth has been consistent, with a TTM increase to $342.97 million from $335.18 million in the prior annual period. EBIT and EBITDA margins are also robust, reflecting healthy operational performance. However, the growth rate has slowed compared to earlier periods, suggesting potential saturation.

Balance Sheet

The debt-to-equity ratio is approximately 0.89 in TTM, indicating moderate leverage for a REIT. The return on equity improved to nearly 9.9% in TTM, showing effective utilization of shareholder funds. The equity ratio is stable at about 51.2%, reflecting a solid capital structure. While the debt level is significant, the company maintains a favorable equity position, balancing risk and potential returns.

Cash Flow

The company demonstrates a strong cash flow position with a consistent rise in free cash flow, up 2.8% in TTM. The operating cash flow to net income ratio is approximately 1.51, indicating efficient cash generation relative to net income. Free cash flow to net income ratio is robust at 1.48, underscoring the firm's capacity to generate cash above net earnings. Overall, cash flow management is a significant strength.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	355.56M	335.18M	319.83M	278.19M	298.71M	332.81M
Gross Profit	257.07M	324.02M	308.32M	268.41M	287.08M	323.16M
EBITDA	212.45M	264.16M	259.87M	178.73M	240.94M	318.00M
Net Income	147.21M	137.99M	135.65M	66.40M	111.80M	185.13M
Balance Sheet
Total Assets	2.69B	2.61B	2.49B	2.51B	2.84B	3.12B
Cash, Cash Equivalents and Short-Term Investments	81.63M	24.29M	22.35M	19.29M	37.41M	43.34M
Total Debt	0.00	1.15B	1.14B	1.15B	1.25B	1.51B
Total Liabilities	1.19B	1.23B	1.21B	1.22B	1.32B	1.60B
Stockholders Equity	1.48B	1.37B	1.25B	1.27B	1.51B	1.51B
Cash Flow
Free Cash Flow	225.88M	203.70M	180.71M	180.71M	210.79M	218.29M
Operating Cash Flow	226.40M	207.77M	184.45M	185.34M	210.86M	232.15M
Investing Cash Flow	-243.32M	-192.31M	-11.63M	197.94M	185.28M	-89.71M
Financing Cash Flow	80.78M	-13.57M	-169.72M	-401.25M	-402.99M	-111.76M

National Health Investors Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 76.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NHI, the sentiment is Positive. The current price of 76.8 is above the 20-day moving average (MA) of 74.83, above the 50-day MA of 76.38, and above the 200-day MA of 72.17, indicating a bullish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 56.07 is Neutral, neither overbought nor oversold. The STOCH value of 80.09 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NHI.

National Health Investors Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CTRE	79 Outperform	$8.07B	26.94	8.13%	3.58%	59.25%	88.37%
OHI	76 Outperform	$12.87B	24.46	11.28%	6.16%	13.50%	31.56%
NHI	75 Outperform	$3.58B	24.05	10.87%	4.81%	8.04%	9.20%
LTC	74 Outperform	$1.71B	49.13	3.49%	6.35%	11.89%	-68.41%
SBRA	74 Outperform	$4.71B	25.97	6.29%	6.59%	8.12%	75.95%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
MPW	54 Neutral	$3.05B	―	-14.02%	6.31%	45.56%	73.44%

National Health Investors Corporate Events

National Health Investors Reports Strong Q3 2025 Results

National Health Investors, Inc. (NHI) is a self-managed real estate investment trust specializing in senior housing and medical facility investments, offering a diverse portfolio that includes independent living facilities, assisted living, memory care communities, and specialty hospitals.

National Health Investors Board Member Announces Departure

On November 5, 2025, Robert G. Adams, a member of the Board of Directors of National Health Investors, Inc., announced he will not seek reelection at the company’s 2026 annual meeting of stockholders. His decision is not due to any disagreement with the company’s operations or policies. Additionally, Charlotte A. Swafford, another board member, will retire effective May 27, 2026, prior to the 2026 Annual Meeting, also without any disagreements with the company.

The most recent analyst rating on (NHI) stock is a Buy with a $85.00 price target. To see the full list of analyst forecasts on National Health Investors stock, see the NHI Stock Forecast page.

National Health Investors Releases Q3 2025 Financial Report

National Health Investors has released its Supplemental Information for the quarter ending September 30, 2025. The report highlights the company’s financial performance, including non-GAAP measures and risks associated with its operations, such as tenant success, property development, and economic impacts. The document also outlines the company’s real estate investments and the performance of its senior housing operating portfolio, providing insights into its market positioning and potential future challenges.

The most recent analyst rating on (NHI) stock is a Buy with a $85.00 price target. To see the full list of analyst forecasts on National Health Investors stock, see the NHI Stock Forecast page.

National Health Investors Issues Investor Update Presentation

On November 6, 2025, National Health Investors issued an investor update presentation available on their website. The update addresses various forward-looking statements and potential risks affecting the company’s financial and operational performance, including tenant and borrower risks, regulatory changes, and economic conditions, which could impact stakeholders.

The most recent analyst rating on (NHI) stock is a Buy with a $85.00 price target. To see the full list of analyst forecasts on National Health Investors stock, see the NHI Stock Forecast page.

National Health Investors Completes $350M Senior Notes Offering

On September 26, 2025, National Health Investors, Inc. completed a public offering of $350 million in 5.350% Senior Notes due 2033, guaranteed by subsidiary guarantors. The offering, governed by a base indenture and a supplemental indenture, includes restrictive covenants and was made under a registration statement filed with the SEC. The Notes, which are senior unsecured obligations, were offered at 98.903% of the principal amount and bear interest payable semi-annually. The company may redeem the Notes at specified prices before maturity, and the indenture outlines events of default.

The most recent analyst rating on (NHI) stock is a Hold with a $80.00 price target. To see the full list of analyst forecasts on National Health Investors stock, see the NHI Stock Forecast page.

National Health Investors Reports Strong Q2 Earnings

The latest earnings call from National Health Investors (NHI) revealed a predominantly positive outlook, with the company showcasing strong quarterly performance and increased guidance. Despite some challenges related to specific operators and occupancy trends, the overall sentiment was optimistic, driven by robust growth in the Senior Housing Operating Portfolio (SHOP) and strategic investments.

National Health Investors Reports Strong Q2 2025 Results

National Health Investors, Inc. (NHI) is a real estate investment trust specializing in senior housing and medical investments, including sale-leasebacks, joint ventures, and mortgage financing.