Symbols / NHI Stock $77.09 +0.23% National Health Investors, Inc.

Real Estate • REIT - Healthcare Facilities • United States • NYQ
NHI (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Real Estate
Industry REIT - Healthcare Facilities
CEO Mr. D. Eric Mendelsohn
Exch · Country NYQ · United States
Market Cap 3.74B
Enterprise Value 5.14B
Income 141.98M
Sales 379.29M
FCF (ttm) 195.47M
Book/sh 31.50
Cash/sh 2.34
Employees 32
Insider 10d —
IPO Oct 09, 1991
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 120.53%
P/E 25.53
Forward P/E 21.24
PEG 4.76
P/S 9.85
P/B 2.45
P/C —
EV/EBITDA 18.59
EV/Sales 13.56
Quick Ratio 0.50
Current Ratio 0.54
Debt/Eq 97.57
LT Debt/Eq —
EPS (ttm) 3.02
EPS next Y 3.63
EPS Growth -43.00%
Revenue Growth -2.60%
EPS Gr Q/Q -42.10%
Rev Gr Q/Q —
Earnings (next) 2026-05-04
Earnings (prior) 2026-02-26
ROA 4.52%
ROE 9.63%
ROIC —
Gross Margin 81.04%
Oper. Margin 61.34%
Profit Margin 37.48%
Shs Outstand 48.46M
Shs Float 46.26M
Insider Own 2.41%
Instit Own 73.74%
Short Float 3.52%
Short Ratio 5.72
Short Interest 1.66M
52W High 91.38
vs 52W High -15.64%
52W Low 68.80
vs 52W Low 12.05%
Beta 0.66
Impl. Vol. 53.97%
Rel Volume 0.32
Avg Volume 330.20K
Volume 106.24K
Target (mean) $88.75
Tgt Median $88.50
Tgt Low $83.00
Tgt High $97.00
# Analysts 8
Recom Buy
Prev Close $76.91
Price $77.09
Change 0.23%
About

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 incorported in 1991 in Maryland, USA.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$88.75
Mean price target
2. Current target
$77.09
Latest analyst target
3. DCF / Fair value
$72.61
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$77.09
Low
$83.00
High
$97.00
Mean
$88.75

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-22 main Wells Fargo Equal-Weight → Equal-Weight $84
2026-04-22 reit Cantor Fitzgerald Overweight → Overweight $94
2026-04-22 main Truist Securities Buy → Buy $89
2026-03-27 main Wells Fargo Equal-Weight → Equal-Weight $86
2026-03-12 main Truist Securities Buy → Buy $92
2025-12-16 main Truist Securities Buy → Buy $83
2025-12-04 main Keybanc Overweight → Overweight $88
2025-11-25 main Wells Fargo Equal-Weight → Equal-Weight $85
2025-10-01 init Cantor Fitzgerald — → Overweight $90
2025-08-27 main Wells Fargo Equal-Weight → Equal-Weight $80
2025-08-15 main Truist Securities Buy → Buy $81
2025-07-10 up Keybanc Sector Weight → Overweight $80
2025-06-09 main Truist Securities Hold → Hold $77
2025-03-19 main Truist Securities Hold → Hold $76
2025-03-17 reit Wedbush Outperform → Outperform $88
2024-12-23 main Truist Securities Hold → Hold $72
2024-09-24 init B of A Securities — → Buy $92
2024-08-30 main Truist Securities Hold → Hold $78
2024-06-26 main Truist Securities Hold → Hold $65
2024-05-30 main Wells Fargo Overweight → Overweight $69
News
RSS: Latest NHI news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-03 MCCABE ROBERT A. JR. Director — 1,268 $0.00 $0
2026-03-03 COLDEN TRACY M J Director — 1,268 $0.00 $0
2026-03-03 CHAPIN ROBERT JR. Director — 1,268 $0.00 $0
2026-03-03 JOBE JAMES R Director — 1,268 $0.00 $0
2026-03-03 MENDELSOHN D ERIC Chief Executive Officer — 14,409 $0.00 $0
2026-03-03 PASCOE KEVIN CARLTON Chief Investment Officer — 5,072 $0.00 $0
2026-03-03 PASCOE KEVIN CARLTON Chief Investment Officer — 4,726 $0.00 $0
2026-03-03 SPAID JOHN L Officer — 5,072 $0.00 $0
2026-03-03 SPAID JOHN L Officer — 15,000 $73.34 $1,100,100
2026-03-03 TRAVIS DAVID L Officer — 3,458 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
375.63
+12.07%
335.18
+4.80%
319.83
+14.97%
278.19
Operating Revenue
375.63
+12.07%
335.18
+4.80%
319.83
+14.97%
278.19
Cost Of Revenue
10.98
-1.64%
11.16
-3.02%
11.51
+17.62%
9.79
Reconciled Cost Of Revenue
10.98
-1.64%
11.16
-3.02%
11.51
+17.62%
9.79
Gross Profit
364.65
+12.54%
324.02
+5.09%
308.32
+14.87%
268.41
Operating Expense
174.06
+28.44%
135.52
+4.38%
129.83
-4.28%
135.64
Selling General And Administration
29.53
+35.55%
21.79
+9.92%
19.82
-21.73%
25.32
General And Administrative Expense
29.53
+35.55%
21.79
+9.92%
19.82
-21.73%
25.32
Other Gand A
29.53
+35.55%
21.79
+9.92%
19.82
-21.73%
25.32
Other Operating Expenses
62.50
+47.93%
42.25
+6.73%
39.59
+40.41%
28.19
Total Expenses
185.04
+26.15%
146.69
+3.78%
141.34
-2.81%
145.43
Operating Income
190.59
+1.11%
188.50
+5.60%
178.49
+34.44%
132.77
EBITDA
275.67
+4.34%
264.20
+1.67%
259.87
+45.39%
178.73
Normalized EBITDA
275.22
+9.53%
251.26
+2.47%
245.20
+20.88%
202.85
Reconciled Depreciation
80.94
+13.30%
71.44
+2.10%
69.97
-1.28%
70.88
EBIT
194.73
+1.02%
192.76
+1.51%
189.89
+76.07%
107.85
Total Unusual Items
0.46
-96.48%
12.94
-11.79%
14.67
+160.82%
-24.12
Total Unusual Items Excluding Goodwill
0.46
-96.48%
12.94
-11.79%
14.67
+160.82%
-24.12
Special Income Charges
0.00
0.00
+100.00%
-0.05
+99.90%
-52.46
Other Special Charges
—
—
0.05
-93.84%
0.86
Write Off
—
0.70
-56.25%
1.60
-96.90%
51.60
Net Income
142.18
+3.04%
137.99
+1.72%
135.65
+104.29%
66.40
Pretax Income
140.79
+3.04%
136.64
+1.68%
134.38
+105.44%
65.41
Net Non Operating Interest Income Expense
-57.37
+4.23%
-59.90
-3.00%
-58.16
-29.48%
-44.92
Interest Expense Non Operating
53.94
-3.88%
56.12
+1.09%
55.51
+30.80%
42.44
Net Interest Income
-57.37
+4.23%
-59.90
-3.00%
-58.16
-29.48%
-44.92
Interest Expense
53.94
-3.88%
56.12
+1.09%
55.51
+30.80%
42.44
Other Income Expense
7.57
-5.95%
8.05
-42.73%
14.05
+162.62%
-22.44
Other Non Operating Income Expenses
3.45
+165.10%
-5.29
-351.02%
-1.17
-205.48%
1.11
Gain On Sale Of Security
0.46
-96.48%
12.94
-12.11%
14.72
-48.06%
28.34
Tax Rate For Calcs
0.00
+0.00%
0.00
+0.00%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
0.10
-96.48%
2.72
-11.79%
3.08
+160.82%
-5.06
Net Income Including Noncontrolling Interests
140.79
+3.04%
136.64
+1.68%
134.38
+105.16%
65.50
Net Income From Continuing Operation Net Minority Interest
142.18
+3.04%
137.99
+1.72%
135.65
+104.29%
66.40
Net Income From Continuing And Discontinued Operation
142.18
+3.04%
137.99
+1.72%
135.65
+104.29%
66.40
Net Income Continuous Operations
140.79
+3.04%
136.64
+1.68%
134.38
+105.16%
65.50
Minority Interests
1.39
+3.27%
1.35
+5.73%
1.27
+41.13%
0.90
Normalized Income
141.82
+11.00%
127.76
+2.98%
124.07
+45.18%
85.46
Net Income Common Stockholders
141.98
+2.98%
137.87
+1.67%
135.60
+104.20%
66.40
Otherunder Preferred Stock Dividend
0.20
+70.34%
0.12
+107.02%
0.06
0.00
Diluted EPS
3.02
-3.51%
3.13
+0.00%
3.13
+111.49%
1.48
Basic EPS
3.03
-3.50%
3.14
+0.32%
3.13
+111.49%
1.48
Basic Average Shares
46.87
+6.91%
43.84
+1.05%
43.39
-3.10%
44.77
Diluted Average Shares
47.05
+6.69%
44.10
+1.64%
43.39
-3.14%
44.79
Diluted NI Availto Com Stockholders
141.98
+2.98%
137.87
+1.67%
135.60
+104.20%
66.40
Depreciation Amortization Depletion Income Statement
80.94
+13.30%
71.44
+2.10%
69.97
-1.28%
70.88
Depreciation And Amortization In Income Statement
80.94
+13.30%
71.44
+2.10%
69.97
-1.28%
70.88
Depreciation Income Statement
80.94
+13.30%
71.44
+2.10%
69.97
-1.28%
70.88
Earnings From Equity Interest
3.66
+811.44%
0.40
-27.57%
0.56
-2.46%
0.57
Other Taxes
1.08
+2742.11%
0.04
-91.54%
0.45
-46.80%
0.84
Provision For Doubtful Accounts
—
4.64
+1646.67%
-0.30
-102.88%
10.40
Total Other Finance Cost
3.43
-9.41%
3.78
+42.92%
2.65
+6.91%
2.48
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
2,796.89
+6.98%
2,614.37
+5.06%
2,488.48
-0.76%
2,507.42
Current Assets
316.92
-20.15%
396.91
+5.79%
375.19
-2.04%
383.01
Cash Cash Equivalents And Short Term Investments
19.62
-19.21%
24.29
+8.69%
22.35
+15.84%
19.29
Cash And Cash Equivalents
19.62
-19.21%
24.29
+8.69%
22.35
+15.84%
19.29
Receivables
293.74
-20.70%
370.41
+7.19%
345.57
+8.61%
318.19
Accounts Receivable
85.46
-8.70%
93.61
+4.44%
89.63
+9.49%
81.86
Gross Accounts Receivable
85.77
-8.85%
94.10
+4.59%
89.97
+9.41%
82.23
Allowance For Doubtful Accounts Receivable
-0.31
+37.45%
-0.49
-44.02%
-0.34
+8.53%
-0.38
Other Receivables
4.98
-36.83%
7.88
-26.17%
10.67
+234.45%
3.19
Restricted Cash
0.00
-100.00%
2.21
-2.51%
2.27
+2.02%
2.23
Assets Held For Sale Current
3.56
0.00
-100.00%
5.00
-88.44%
43.30
Total Non Current Assets
2,479.97
+11.84%
2,217.46
+4.93%
2,113.29
-0.52%
2,124.42
Non Current Deferred Assets
—
—
10.67
+234.45%
3.19
Other Non Current Assets
6.21
+0.00%
6.21
+0.00%
6.21
+0.00%
6.21
Total Liabilities Net Minority Interest
1,256.98
+2.26%
1,229.19
+1.22%
1,214.43
-0.25%
1,217.52
Current Liabilities
297.17
-28.28%
414.35
+27.74%
324.38
+189.61%
112.01
Payables And Accrued Expenses
88.17
+11.79%
78.88
+7.50%
73.37
+12.96%
64.95
Payables
88.17
+11.79%
78.88
+7.50%
73.37
+12.96%
64.95
Accounts Payable
43.73
+15.83%
37.76
+10.07%
34.30
+32.42%
25.91
Dividends Payable
44.44
+8.07%
41.12
+5.25%
39.07
+0.05%
39.05
Current Debt And Capital Lease Obligation
204.00
-38.41%
331.20
+35.18%
245.00
+483.33%
42.00
Current Debt
204.00
-38.41%
331.20
+35.18%
245.00
+483.33%
42.00
Current Deferred Liabilities
5.00
+16.81%
4.28
-28.82%
6.01
+18.94%
5.05
Current Deferred Revenue
5.00
+16.81%
4.28
-28.82%
6.01
+18.94%
5.05
Total Non Current Liabilities Net Minority Interest
959.81
+17.79%
814.84
-8.45%
890.05
-19.49%
1,105.51
Long Term Debt And Capital Lease Obligation
959.81
+17.79%
814.84
-8.45%
890.05
-19.49%
1,105.51
Long Term Debt
959.81
+17.79%
814.84
-8.45%
890.05
-19.49%
1,105.51
Long Term Capital Lease Obligation
—
—
—
0.00
Other Non Current Liabilities
—
—
—
—
Stockholders Equity
1,521.54
+11.35%
1,366.47
+8.97%
1,253.95
-1.28%
1,270.22
Common Stock Equity
1,521.54
+11.35%
1,366.47
+8.97%
1,253.95
-1.28%
1,270.22
Capital Stock
0.48
+5.69%
0.46
+5.30%
0.43
+0.00%
0.43
Common Stock
0.48
+5.69%
0.46
+5.30%
0.43
+0.00%
0.43
Share Issued
48.30
+5.72%
45.69
+5.25%
43.41
+0.05%
43.39
Ordinary Shares Number
48.30
+5.72%
45.69
+5.25%
43.41
+0.05%
43.39
Additional Paid In Capital
1,922.71
+10.70%
1,736.83
+8.30%
1,603.76
+0.27%
1,599.43
Retained Earnings
2,747.01
+5.46%
2,604.83
+5.59%
2,466.84
+5.82%
2,331.19
Gains Losses Not Affecting Retained Earnings
—
—
—
—
Minority Interest
18.36
-1.82%
18.70
-6.93%
20.09
+2.10%
19.68
Total Equity Gross Minority Interest
1,539.90
+11.17%
1,385.18
+8.72%
1,274.05
-1.23%
1,289.91
Total Capitalization
2,481.36
+13.76%
2,181.32
+1.74%
2,144.00
-9.75%
2,375.74
Working Capital
19.75
+213.24%
-17.44
-134.33%
50.81
-81.25%
271.00
Invested Capital
2,685.36
+6.88%
2,512.52
+5.17%
2,389.00
-1.19%
2,417.74
Total Debt
1,163.81
+1.55%
1,146.04
+0.97%
1,135.05
-1.09%
1,147.51
Net Debt
1,144.19
+2.00%
1,121.75
+0.81%
1,112.70
-1.38%
1,128.22
Capital Lease Obligations
—
—
—
0.00
Net Tangible Assets
1,521.54
+11.35%
1,366.47
+8.97%
1,253.95
-1.28%
1,270.22
Tangible Book Value
1,521.54
+11.35%
1,366.47
+8.97%
1,253.95
-1.28%
1,270.22
Investment Properties
2,473.76
+11.87%
2,211.25
+4.94%
2,107.08
-0.53%
2,118.21
Line Of Credit
204.00
-38.41%
331.20
+35.18%
245.00
+483.33%
42.00
Notes Receivable
203.30
-24.40%
268.93
+9.64%
245.27
+5.20%
233.14
Other Equity Interest
-3,148.66
-5.81%
-2,975.64
-5.63%
-2,817.08
-5.87%
-2,660.83
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
236.56
+13.86%
207.77
+12.64%
184.45
-0.48%
185.34
Cash Flow From Continuing Operating Activities
236.56
+13.86%
207.77
+12.64%
184.45
-0.48%
185.34
Net Income From Continuing Operations
140.79
+3.04%
136.64
+1.68%
134.38
+105.16%
65.50
Depreciation Amortization Depletion
80.94
+13.30%
71.44
+2.10%
69.97
-1.28%
70.88
Depreciation
80.94
+13.30%
71.44
+2.10%
69.97
-1.28%
70.88
Depreciation And Amortization
80.94
+13.30%
71.44
+2.10%
69.97
-1.28%
70.88
Other Non Cash Items
6.12
-28.88%
8.60
+158.78%
-14.63
-120.07%
72.92
Pension And Employee Benefit Expense
—
0.00
0.00
+100.00%
-1.11
Stock Based Compensation
5.58
+33.33%
4.18
-9.19%
4.61
-46.53%
8.61
Operating Gains Losses
-4.12
+69.12%
-13.34
+12.25%
-15.20
+49.11%
-29.87
Gain Loss On Investment Securities
-0.46
+93.17%
-6.68
+54.64%
-14.72
+48.06%
-28.34
Change In Working Capital
7.26
+2863.27%
0.24
-95.40%
5.33
+297.44%
-2.70
Change In Payables And Accrued Expense
5.49
+67.12%
3.29
-44.59%
5.93
+1295.06%
0.42
Change In Payable
5.49
+67.12%
3.29
-44.59%
5.93
+1295.06%
0.42
Change In Account Payable
5.49
+67.12%
3.29
-44.59%
5.93
+1295.06%
0.42
Change In Other Working Capital
1.71
+250.26%
-1.14
-1228.71%
0.10
-75.49%
0.41
Change In Other Current Assets
0.06
+103.00%
-1.90
-169.50%
-0.70
+80.05%
-3.53
Investing Cash Flow
-269.15
-39.95%
-192.31
-1553.61%
-11.63
-105.88%
197.94
Cash Flow From Continuing Investing Activities
-269.15
-39.95%
-192.31
-1553.61%
-11.63
-105.88%
197.94
Net PPE Purchase And Sale
—
-4.07
-8.71%
-3.74
0.00
Purchase Of PPE
—
-4.07
-8.71%
-3.74
0.00
Capital Expenditure
—
-4.07
-8.71%
-3.74
—
Net Business Purchase And Sale
—
—
—
0.00
Purchase Of Business
—
—
—
0.00
Net Other Investing Changes
21.22
+151.80%
-40.97
-84.86%
-22.16
-156.23%
39.41
Financing Cash Flow
25.71
+289.48%
-13.57
+92.01%
-169.72
+57.70%
-401.25
Cash Flow From Continuing Financing Activities
25.71
+289.48%
-13.57
+92.01%
-169.72
+57.70%
-401.25
Net Issuance Payments Of Debt
18.15
+68.58%
10.76
+186.62%
-12.43
+86.69%
-93.39
Issuance Of Debt
1,040.16
+131.30%
449.70
-20.27%
564.00
+150.67%
225.00
Repayment Of Debt
-1,022.01
-132.84%
-438.94
+23.85%
-576.43
-81.05%
-318.39
Long Term Debt Issuance
1,040.16
+131.30%
449.70
-20.27%
564.00
+150.67%
225.00
Long Term Debt Payments
-1,022.01
-132.84%
-438.94
+23.85%
-576.43
-81.05%
-318.39
Net Long Term Debt Issuance
18.15
+68.58%
10.76
+186.62%
-12.43
+86.69%
-93.39
Short Term Debt Issuance
—
—
—
—
Short Term Debt Payments
—
—
—
—
Net Short Term Debt Issuance
—
—
—
—
Net Common Stock Issuance
181.53
+27.49%
142.39
0.00
+100.00%
-151.95
Common Stock Payments
—
0.00
0.00
+100.00%
-151.95
Common Stock Dividend Paid
-169.70
-8.43%
-156.51
-0.17%
-156.24
+3.42%
-161.77
Cash Dividends Paid
-169.70
-8.43%
-156.51
-0.17%
-156.24
+3.42%
-161.77
Repurchase Of Capital Stock
—
0.00
0.00
+100.00%
-151.95
Net Other Financing Charges
-4.28
+58.15%
-10.22
-869.26%
-1.05
-118.00%
5.86
Changes In Cash
-6.88
-464.88%
1.89
-39.21%
3.10
+117.26%
-17.97
Beginning Cash Position
26.50
+7.66%
24.62
+14.41%
21.52
-45.51%
39.48
End Cash Position
19.62
-25.95%
26.50
+7.66%
24.62
+14.41%
21.52
Free Cash Flow
236.56
+13.86%
207.77
+12.64%
184.45
-0.48%
185.34
Interest Paid Supplemental Data
51.50
-7.00%
55.37
+6.70%
51.90
+21.66%
42.66
Common Stock Issuance
181.53
+27.49%
142.39
0.00
0.00
Dividends Received CFI
3.66
+811.44%
0.40
-86.84%
3.06
+436.91%
0.57
Earnings Losses From Equity Investments
-3.66
+45.01%
-6.66
-1100.54%
-0.56
+2.46%
-0.57
Issuance Of Capital Stock
181.53
+27.49%
142.39
0.00
0.00
Net Investment Properties Purchase And Sale
-294.03
-93.76%
-151.75
-2130.13%
7.47
-95.27%
157.97
Purchase Of Investment Properties
-294.03
-86.18%
-157.93
-218.69%
-49.56
-350.80%
-10.99
Sale Of Investment Properties
0.00
-100.00%
6.18
-89.17%
57.03
-66.25%
168.96
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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