National Health Investors, Inc. (NYSE:NHI) Sees Significant Drop in Short Interest

Key Points

• Short interest in National Health Investors fell 44% to 2.09 million shares as of July 15, representing about 4.4% of shares outstanding and 4.7 days of average trading volume.
• NHI declared a quarterly dividend of $0.92 per share, equivalent to an annualized $3.68 payout and a 4.7% yield; its payout ratio is 118.71%.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $83.86, while several firms recently lowered their targets. Company insiders also purchased shares, and institutional investors own 62.51% of the stock.

National Health Investors, Inc. (NYSE:NHI - Get Free Report) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totaling 2,094,689 shares, a decline of 44.0% from the June 30th total of 3,740,952 shares. Approximately 4.4% of the shares of the company are sold short. Based on an average trading volume of 441,598 shares, the short-interest ratio is currently 4.7 days.

National Health Investors Stock Performance

National Health Investors stock traded down $0.36 on Wednesday, reaching $78.18. 253,165 shares of the stock were exchanged, compared to its average volume of 440,377. The stock has a market cap of $3.79 billion, a PE ratio of 25.22, a PEG ratio of 3.56 and a beta of 0.51. The company has a current ratio of 8.20, a quick ratio of 8.20 and a debt-to-equity ratio of 0.83. National Health Investors has a twelve month low of $67.94 and a twelve month high of $91.38. The firm has a fifty day moving average price of $75.13 and a two-hundred day moving average price of $79.77.

National Health Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.7%. National Health Investors's dividend payout ratio is currently 118.71%.

Insiders Place Their Bets

In other news, CEO D. Eric Mendelsohn purchased 1,500 shares of the firm's stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $68.84 per share, with a total value of $103,260.00. Following the purchase, the chief executive officer owned 133,316 shares in the company, valued at $9,177,473.44. This trade represents a 1.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert A. Mccabe, Jr. bought 890 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $71.65 per share, with a total value of $63,768.50. Following the purchase, the director directly owned 44,159 shares of the company's stock, valued at approximately $3,163,992.35. This represents a 2.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 2.70% of the company's stock.

Institutional Trading of National Health Investors

Hedge funds have recently modified their holdings of the company. Moody National Bank Trust Division acquired a new position in shares of National Health Investors in the 2nd quarter worth approximately $723,000. Pensionfund PDN grew its position in National Health Investors by 74.3% during the 2nd quarter. Pensionfund PDN now owns 12,200 shares of the real estate investment trust's stock worth $930,000 after acquiring an additional 5,200 shares during the last quarter. Pensionfund Sabic increased its holdings in National Health Investors by 71.4% during the 2nd quarter. Pensionfund Sabic now owns 6,000 shares of the real estate investment trust's stock valued at $458,000 after purchasing an additional 2,500 shares in the last quarter. Militia Capital Management LLC acquired a new stake in National Health Investors during the 1st quarter valued at $2,458,000. Finally, NewEdge Advisors LLC raised its position in National Health Investors by 18.1% in the 1st quarter. NewEdge Advisors LLC now owns 12,046 shares of the real estate investment trust's stock valued at $974,000 after purchasing an additional 1,844 shares during the last quarter. Institutional investors own 62.51% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NHI. Weiss Ratings lowered National Health Investors from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 12th. Wells Fargo & Company lowered their target price on 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. BMO Capital Markets dropped their target price on National Health Investors from $90.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, June 15th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $94.00 price target on shares of National Health Investors in a research note on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on National Health Investors from $85.00 to $80.00 and set a "hold" rating for the company in a report on Thursday, June 25th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.86.

About National Health Investors

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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