National Health Investors (NYSE:NHI) Hits New 12-Month High After Dividend Announcement

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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on National Health Investors in a research note on Tuesday, January 30th. They issued a “buy” rating and a $69.00 price target for the company. Wells Fargo & Company upgraded National Health Investors from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $63.00 in a report on Monday, February 26th. Wedbush boosted their price objective 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. BMO Capital Markets upgraded National Health Investors from a “market perform” rating to an “outperform” rating and set a $67.00 target price for the company in a report on Tuesday, March 12th. Finally, StockNews.com downgraded shares of National Health Investors from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.50.

National Health Investors Stock Performance

The company’s 50-day moving average price is $60.81 and its two-hundred day moving average price is $56.48. The stock has a market cap of $2.85 billion, a PE ratio of 20.98 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 10.27 and a current ratio of 10.27.

Insider Activity at National Health Investors

In other National Health Investors news, Director Charlotte A. Swafford bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price 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 in the company, valued at $6,466,757.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.21% of the stock is currently owned by company insiders.

Institutional Trading of National Health Investors

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Compass Wealth Management LLC purchased a new position in National Health Investors in the 1st quarter worth about $30,000. Baystate Wealth Management LLC bought a new position in National Health Investors during the fourth quarter valued at approximately $39,000. Sound Income Strategies LLC boosted its holdings in National Health Investors by 33.5% in the fourth quarter. Sound Income Strategies LLC now owns 916 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 230 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in National Health Investors by 66.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,594 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 1,033 shares during the period. Finally, EMC Capital Management raised its stake in National Health Investors by 86.5% during the 3rd quarter. EMC Capital Management now owns 3,357 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 1,557 shares during the last quarter. 62.51% of the stock is currently owned by institutional investors.

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.