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 lessened its stake in National Health Investors, Inc. (NYSE:NHI - Free Report) by 36.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in National Health Investors by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 634,430 shares of the real estate investment trust's stock worth $43,966,000 after purchasing an additional 20,631 shares during the period. Northern Trust Corp boosted its stake in National Health Investors by 19.9% in the fourth quarter. Northern Trust Corp now owns 613,791 shares of the real estate investment trust's stock valued at $42,536,000 after acquiring an additional 101,808 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in National Health Investors by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 588,871 shares of the real estate investment trust's stock valued at $43,494,000 after acquiring an additional 31,451 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in National Health Investors by 25.7% during the 1st quarter. Centersquare Investment Management LLC now owns 495,971 shares of the real estate investment trust's stock worth $36,632,000 after acquiring an additional 101,538 shares during the period. Finally, Millennium Management LLC raised its position in shares of National Health Investors by 1,967.0% during the 4th 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 during the last quarter. 62.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on National Health Investors from $76.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Truist Financial raised their target price on National Health Investors from $77.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, August 15th. KeyCorp raised National Health Investors from a "sector weight" rating to an "overweight" rating and set a $80.00 price target for the company in a research note on Thursday, July 10th. Finally, Wedbush upgraded shares of National Health Investors to a "strong-buy" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $84.20.

National Health Investors Stock Up 0.9%

NHI stock traded up $0.68 during trading hours on Friday, reaching $78.33. 193,835 shares of the stock were exchanged, compared to its average volume of 223,797. The firm's 50-day moving average is $72.74 and its 200-day moving average is $72.90. National Health Investors, Inc. has a 12 month low of $65.13 and a 12 month high of $86.13. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 3.36 and a beta of 0.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 10.91 and a quick ratio of 10.91.

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 company had revenue of $70.27 million during the quarter, compared to analysts' expectations of $86.46 million. During the same period in the prior year, the firm earned $1.18 earnings per share. National Health Investors's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts expect that National Health Investors, Inc. will post 4.41 earnings per share for the current year.

National Health Investors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend 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%.

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.