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National Health Investors (NHI) AI Stock Analysis
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National Health Investors
(NYSE:NHI)
The score is driven primarily by healthy financial performance (revenue growth and strong free-cash-flow generation), reinforced by a generally positive earnings update highlighting improved liquidity and a higher dividend. These positives are tempered by weak technical momentum and a valuation that looks fair rather than discounted, plus investor caution around volatility in reported margins and the large reported swing in debt levels.
National Health Investors (NHI) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $3.29B
- Dividend Yield
- 5.52%
- Average Volume (3M)
- 338.73K
- Price to Earnings (P/E)
- 19.3
- Beta (1Y)
- 0.15
- Revenue Growth
- 23.77%
- EPS Growth
- 10.04%
- Country
- US
- Employees
- 32
- Sector
- Real Estate
- Sector Strength
- 65
- Industry
- REIT - Healthcare Facilities
National Health Investors Business Overview & Revenue Model
Company Description
Established in 1991, National Health Investors, Inc. (NYSE: NHI) operates as a real estate investment trust (REIT) primarily focused on providing capital for senior living and medical real estate assets. The company facilitates this through diverse f...
How the Company Makes Money
NHI makes money primarily by earning contractual real-estate income and financing income from healthcare operators. 1) Rental and lease revenue (primary): NHI acquires healthcare-related properties and leases them to third-party operators. Under thes...
National Health Investors Earnings Call Summary
The call presents a largely positive strategic and financial picture driven by the transformative NHC sale (material gain and strong liquidity), rapid expansion of the SHOP platform (137% increase to ~$850M) and significant SHOP NOI growth in aggregate (188.5% YoY). Management enhancements (new COO, CFO) and a dividend increase further reinforce confidence. However, near-term operational and earnings challenges persist: same-store SHOP performance showed YoY weakness, normalized FFO declined modestly, G&A and interest costs rose, and some SHOP properties face occupancy and operational pressures. The acquisition market is competitive with compressed yields, creating underwriting pressure. Overall, the positives (balance sheet strength, liquidity, SHOP scale-up, sequential operational improvement and active pipeline) outweigh the near-term headwinds, but execution will be critical to realize the anticipated long-term benefits.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
NHI left its full‑year SHOP outlook unchanged, maintaining same‑store SHOP NOI growth guidance of 1%–3% (which management said implies roughly 8%–9% growth in H2), and reiterated that newer SHOP investments should drive high‑single to low‑double‑digit NOI growth; Q2 SHOP NOI rose 188.5% YoY to $11.0M, SHOP investment has increased 137% to ≈$850M (24% of the company), year‑to‑date investments were $237.2M at a 7.7% average yield (>$212M in SHOP), with ~$127.3M of signed LOIs (initial yield 6.8%, 6.5% after maintenance CapEx) and ~ $420M under evaluation. Key financial and balance‑sheet metrics cited: Q2 net income per share $1.15 (+45.6%), NAREIT/normalized FFO $1.19 (flat / -2.5%), FAD $61.6M (+5.8%), cash rental income +2.8% YoY, Q2 G&A $8.8M (+44%) with cash G&A guidance up low‑teens YoY, EBITDARM coverages (12 months ended 3/31/26) senior housing 1.62 and SNF 2.66, net debt/adjusted EBITDA 4.1x (policy 3.5–4.5x), available liquidity ≈$792.4M ($262M excess revolver + $500M ATM/cash), July NHC sale proceeds $560M (expected Q3 gain ≈$541.6M) with ~$221M used for 1031 replacements and ~$334M held for reinvestment, and a dividend increase of $0.02 to $0.94 per share.
National Health Investors Financial Statement Overview
Summary
Fundamentals are solid overall, supported by constructive revenue growth (TTM up 7.6% vs. 2025) and strong cash generation with rising free cash flow and good earnings-to-cash conversion. The main offsets are volatility in profitability metrics and a major balance-sheet discontinuity (reported debt dropping from ~$1.16B in 2025 to zero in TTM) that reduces confidence in period-to-period comparability.
Income Statement
78PositiveBalance Sheet
70PositiveCash Flow
82Very Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 433.57M | 378.53M | 335.18M | 319.83M | 278.19M | 298.71M |
| Gross Profit | 243.90M | 138.93M | 324.02M | 308.32M | 268.41M | 287.08M |
| EBITDA | 316.00M | 282.00M | 264.16M | 259.87M | 178.73M | 240.94M |
| Net Income | 166.80M | 142.18M | 137.99M | 135.65M | 66.40M | 111.80M |
Balance Sheet | ||||||
| Total Assets | 2.96B | 2.80B | 2.61B | 2.49B | 2.51B | 2.84B |
| Cash, Cash Equivalents and Short-Term Investments | 30.39M | 19.62M | 24.29M | 22.35M | 19.29M | 37.41M |
| Total Debt | 1.28B | 1.16B | 1.15B | 1.14B | 1.15B | 1.25B |
| Total Liabilities | 1.38B | 1.26B | 1.23B | 1.21B | 1.22B | 1.32B |
| Stockholders Equity | 1.57B | 1.52B | 1.37B | 1.25B | 1.27B | 1.51B |
Cash Flow | ||||||
| Free Cash Flow | 235.71M | 220.26M | 192.44M | 180.71M | 180.71M | 210.79M |
| Operating Cash Flow | 250.87M | 240.23M | 208.17M | 184.45M | 185.34M | 210.86M |
| Investing Cash Flow | -292.70M | -271.07M | -191.55M | -11.63M | 197.94M | 185.28M |
| Financing Cash Flow | 73.40M | 23.96M | -14.74M | -169.72M | -401.25M | -402.99M |
National Health Investors Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NHI, the sentiment is Neutral. The current price of 67.04 is above the 20-day moving average (MA) of 65.80, below the 50-day MA of 67.57, and below the 200-day MA of 74.65, indicating a neutral trend. The MACD of -0.12 indicates Negative momentum. The RSI at 52.58 is Neutral, neither overbought nor oversold. The STOCH value of 54.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NHI.
National Health Investors Risk Analysis
National Health Investors disclosed 43 risk factors in its most recent earnings report. National Health Investors reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
1 New RiskNational Health Investors Peers Comparison
Overall Rating
CTRE80Outperform
LTC80Outperform
OHI80Outperform- NHI71Outperform
SBRA65Neutral
STRW65Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| CTRE | 80Outperform | $8.60B | 22.60 | 8.54% | 4.14% | 53.07% | 32.48% |
| LTC | 80Outperform | $2.41B | 15.87 | 12.28% | 5.09% | 59.94% | 49.34% |
| OHI | 80Outperform | $14.24B | 16.26 | 16.51% | 5.73% | 15.18% | 72.69% |
| NHI | 71Outperform | $3.29B | 19.32 | 10.96% | 5.52% | 23.77% | 10.04% |
| Sector * | 65Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
| SBRA | 65Neutral | $5.04B | 74.77 | 2.34% | 6.08% | 18.43% | -65.50% |
| STRW | 65Neutral | $710.14M | 19.83 | 72.36% | 5.20% | 18.27% | 6.18% |
* Real Estate Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| NHI | National Health Investors | 67.04 | -4.09 | -5.74% | |
| LTC | Ltc Properties | 44.75 | 11.40 | 34.17% | |
| OHI | Omega Healthcare Investors | 46.98 | 6.76 | 16.80% | |
| SBRA | Sabra Healthcare Reit | 19.74 | 2.90 | 17.21% | |
| CTRE | CareTrust REIT | 36.39 | 2.47 | 7.27% | |
| STRW | Strawberry Fields REIT Inc | 12.69 | 1.70 | 15.42% |
National Health Investors Corporate Events
National Health Investors Provides Supplemental Q2 2026 Portfolio Update
NeutralNational Health Investors released unaudited supplemental information for the quarter ended June 30, 2026, detailing portfolio composition, segment performance and capitalization for its senior housing and medical facility investments. The filing hig...
National Health Investors Issues Investor Update and Disclosure
NeutralOn August 10, 2026, National Health Investors, Inc. furnished an investor presentation and issued a related press release to update the market on its business. The materials, made available through the company’s investor website, form part of N...
National Health Investors Appoints First Chief Operating Officer
PositiveNational Health Investors, Inc. announced on July 27, 2026, that its board had appointed industry veteran Christian (Chris) Maingot as the company’s first Chief Operating Officer, following the July 22, 2026 board decision. Maingot brings more...
National Health Investors Completes Major Senior Care Asset Sale
PositiveOn July 1, 2026, National Health Investors completed the sale of 32 skilled nursing facilities and three independent living facilities, including related land and improvements, to NHC/OP, L.P. and affiliated entities for a total price of $560 million...
National Health Investors Implements Executive Change-in-Control Protections
NeutralOn July 1, 2026, National Health Investors, Inc. entered into a Change in Control Severance Agreement with executive Todd Siefert, effective the same day, that defines his compensation and benefits if his employment is terminated without cause or for...
National Health Investors Advances Sale of Senior Care Portfolio
PositiveNational Health Investors, Inc. has agreed to sell 32 skilled nursing facilities and three independent living facilities, including the underlying land and improvements, to NHC/OP, L.P., a wholly owned subsidiary of National HealthCare Corporation, u...
National Health Investors Holds 2026 Annual Meeting, Elects Board
PositiveNational Health Investors, Inc. held its 2026 Annual Meeting of Stockholders on May 27, 2026, with approximately 87.46% of eligible shares represented, establishing a quorum. All nominated directors, including Robert W. Chapin, Jr., Tracy M.J. Colden...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Aug 11, 2026