Bank of America Corp DE increased its holdings in National Health Investors, Inc. (NYSE:NHI – Get Rating) by 23.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 888,548 shares of the real estate investment trust's stock after acquiring an additional 169,598 shares during the quarter. Bank of America Corp DE owned approximately 1.94% of National Health Investors worth $52,432,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. lifted its stake in National Health Investors by 566.0% in the first quarter. TCI Wealth Advisors Inc. now owns 706 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 600 shares during the period. Financial Advantage Inc. purchased a new stake in National Health Investors in the first quarter worth about $59,000. KBC Group NV purchased a new stake in National Health Investors in the first quarter worth about $177,000. M&T Bank Corp purchased a new stake in National Health Investors in the first quarter worth about $202,000. Finally, First Republic Investment Management Inc. purchased a new stake in National Health Investors in the first quarter worth about $204,000. 65.25% of the stock is owned by hedge funds and other institutional investors.
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National Health Investors Stock Performance
NHI opened at $56.19 on Wednesday. National Health Investors, Inc. has a 52-week low of $50.22 and a 52-week high of $67.16. The company has a quick ratio of 12.92, a current ratio of 12.92 and a debt-to-equity ratio of 0.79. The company has a market cap of $2.51 billion, a P/E ratio of 38.49 and a beta of 0.86. The firm's 50-day moving average price is $64.02 and its 200-day moving average price is $59.92.
National Health Investors Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 4th. Investors of record on Friday, September 30th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $3.60 dividend on an annualized basis and a yield of 6.41%. National Health Investors's dividend payout ratio is currently 246.58%.
Insider Activity at National Health Investors
In other news, Director Robert G. Adams bought 1,500 shares of the company's stock in a transaction that occurred on Monday, August 15th. The shares were purchased at an average price of $65.93 per share, for a total transaction of $98,895.00. Following the completion of the transaction, the director now directly owns 85,411 shares in the company, valued at $5,631,147.23. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.26% of the stock is owned by insiders.
Analyst Ratings Changes
A number of analysts recently weighed in on NHI shares. Truist Financial lowered their price objective on shares of National Health Investors from $64.00 to $61.00 and set a "hold" rating for the company in a research note on Monday. Credit Suisse Group began coverage on shares of National Health Investors in a report on Wednesday, June 22nd. They issued an "underperform" rating for the company. BMO Capital Markets downgraded shares of National Health Investors from an "outperform" rating to a "market perform" rating and set a $62.00 target price for the company. in a report on Tuesday, June 21st. Finally, Capital One Financial began coverage on shares of National Health Investors in a report on Friday, June 3rd. They issued an "overweight" rating and a $64.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, National Health Investors has a consensus rating of "Hold" and an average target price of $59.50.
About National Health Investors
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Incorporated in 1991, National Health Investors, Inc (NYSE: NHI) is a real estate investment trust specializing in sale-leaseback, joint-venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments. NHI's portfolio consists of independent, assisted and memory care communities, entrance-fee retirement communities, skilled nursing facilities, medical office buildings and specialty hospitals.
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