Martingale Asset Management L P Sells 7,300 Shares of National Health Investors, Inc. $NHI

Key Points

• Martingale Asset Management L P reduced its stake in National Health Investors, Inc. by 36.8%, owning 12,548 shares worth approximately $927,000 after selling 7,300 shares.
• National Health Investors recently increased its quarterly dividend from $0.90 to $0.92 per share, representing an annualized dividend of $3.68 with a yield of 4.7%.
• Analysts have shown confidence in the stock, with ratings including one Strong Buy and three Buy ratings, resulting in a consensus rating of "Buy" and a target price of $85.40.

Martingale Asset Management L P cut its position in National Health Investors, Inc. (NYSE:NHI - Free Report) by 36.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,548 shares of the real estate investment trust's stock after selling 7,300 shares during the period. Martingale Asset Management L P's holdings in National Health Investors were worth $927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in shares of National Health Investors by 1,967.0% during the fourth quarter. Millennium Management LLC now owns 488,353 shares of the real estate investment trust's stock valued at $33,843,000 after acquiring an additional 464,727 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of National Health Investors in the 4th quarter worth $23,917,000. Land & Buildings Investment Management LLC grew its position in National Health Investors by 109.4% in the 4th quarter. Land & Buildings Investment Management LLC now owns 467,056 shares of the real estate investment trust's stock valued at $32,367,000 after purchasing an additional 243,999 shares during the period. Bowen Hanes & Co. Inc. bought a new stake in National Health Investors during the 1st quarter valued at $10,340,000. Finally, Nuveen LLC bought a new stake in National Health Investors during the 1st quarter valued at $10,126,000. 62.51% of the stock is owned by institutional investors.

National Health Investors Stock Performance

Shares of NHI traded up $0.39 on Friday, reaching $78.04. 77,214 shares of the company's stock traded hands, compared to its average volume of 245,188. The stock's 50 day simple moving average is $72.59 and its two-hundred day simple moving average is $72.77. The stock has a market cap of $3.70 billion, a PE ratio of 24.93, a PEG ratio of 3.34 and a beta of 0.73. National Health Investors, Inc. has a 52-week low of $65.13 and a 52-week high of $86.13. The company has a current ratio of 10.91, a quick ratio of 10.91 and a debt-to-equity ratio of 0.75.

National Health Investors (NYSE:NHI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.06. National Health Investors had a return on equity of 10.32% and a net margin of 40.97%.The business had revenue of $70.27 million for the quarter, compared to analysts' expectations of $86.46 million. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business's revenue was up 6.7% on a year-over-year basis. On average, analysts forecast that National Health Investors, Inc. will post 4.41 earnings per share for the current fiscal year.

National Health Investors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 4.7%. This is a boost from National Health Investors's previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 30th. National Health Investors's dividend payout ratio is 115.02%.

Analyst Ratings Changes

A number of research firms have weighed in on NHI. Wedbush raised shares of National Health Investors to a "strong-buy" rating in a research note on Wednesday, July 2nd. KeyCorp raised shares of National Health Investors from a "sector weight" rating to an "overweight" rating and set a $80.00 price target on the stock in a research report on Thursday, July 10th. Wells Fargo & Company boosted their price objective on National Health Investors from $76.00 to $80.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, Truist Financial increased their price objective on National Health Investors from $77.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $84.20.

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.