Bank of America Corp DE Purchases 165,467 Shares of National Health Investors, Inc. $NHI

Key Points

• Bank of America increased its National Health Investors stake by 20%, buying 165,467 additional shares to own 992,802 shares worth approximately $80.3 million, or 2.05% of the REIT. Institutional investors collectively hold 62.51% of NHI’s stock.
• Analysts maintain a generally positive outlook, with NHI carrying a “Moderate Buy” consensus rating and an average price target of $83.86. However, several brokerages recently lowered their targets to between $79 and $81.
• NHI shares opened at $75.40, near the 50-day moving average and below the 200-day average. Director Robert McCabe and CEO D. Eric Mendelsohn also recently purchased shares, while insiders own 2.70% of the company.

Bank of America Corp DE boosted its position in shares of National Health Investors, Inc. (NYSE:NHI - Free Report) by 20.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 992,802 shares of the real estate investment trust's stock after purchasing an additional 165,467 shares during the quarter. Bank of America Corp DE owned about 2.05% of National Health Investors worth $80,278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of National Health Investors during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its holdings in National Health Investors by 244.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 406 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 288 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in National Health Investors in the 4th quarter valued at approximately $33,000. Key Capital Management INC bought a new position in National Health Investors in the 4th quarter valued at approximately $47,000. Finally, Advisory Services Network LLC purchased a new stake in National Health Investors during the 3rd quarter valued at $65,000. 62.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NHI. Truist Financial lowered their price target on National Health Investors from $89.00 to $81.00 and set a "buy" rating on the stock in a report on Friday, June 12th. BMO Capital Markets reduced their price objective on National Health Investors from $90.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft decreased their target price on National Health Investors from $85.00 to $80.00 and set a "hold" rating for the company in a research report on Thursday, June 25th. Wells Fargo & Company lowered their target price on shares of National Health Investors from $84.00 to $79.00 and set an "equal weight" rating on the stock in a research note on Monday, June 1st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $94.00 price target on shares of National Health Investors in a report on Wednesday, April 22nd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, National Health Investors presently has an average rating of "Moderate Buy" and an average target price of $83.86.

National Health Investors Stock Up 0.1%

NYSE NHI opened at $75.40 on Monday. The stock's 50-day moving average price is $75.13 and its 200-day moving average price is $79.60. The company has a quick ratio of 8.20, a current ratio of 8.20 and a debt-to-equity ratio of 0.83. National Health Investors, Inc. has a 52 week low of $67.94 and a 52 week high of $91.38. The company has a market capitalization of $3.65 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 3.38 and a beta of 0.51.

Insider Buying and Selling

In other news, Director Robert A. Mccabe, Jr. purchased 890 shares of the stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $71.65 per share, with a total value of $63,768.50. Following the completion of the acquisition, the director directly owned 44,159 shares of the company's stock, valued at $3,163,992.35. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO D. Eric Mendelsohn purchased 1,500 shares of the company's stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $68.84 per share, with a total value of $103,260.00. Following the completion of the transaction, the chief executive officer owned 133,316 shares of the company's stock, valued at approximately $9,177,473.44. This trade represents a 1.14% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.70% of the stock is currently owned by company insiders.

National Health Investors Profile

National Health Investors, Inc NYSE: NHI is a specialized real estate investment trust (REIT) focused on owning and financing high-quality healthcare and senior housing facilities in the United States. The company's portfolio encompasses a diverse range of properties, including skilled nursing centers, assisted living and memory care communities, behavioral health facilities, dialysis clinics, and medical office buildings. NHI typically enters into long-term net-lease agreements with experienced healthcare operators, providing stable and predictable rental income streams while enabling its tenants to concentrate on delivering quality care.

Since its founding in 1991 and initial public offering later that year, National Health Investors has pursued a disciplined growth strategy centered on strategic acquisitions, joint ventures, and selective development.

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