National Health Investors (NHI)
Healthcare REIT combining triple-net leases, financing and operated senior housing.
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Owns and finances U.S. senior housing and medical properties through triple-net leases, loans and an expanding Senior Housing Operating Portfolio. Rental and interest income remain central, while SHOP adds resident-fee exposure; the legacy NHC portfolio sale shifted the mix toward private-pay senior housing.
Owns, leases and finances senior housing communities and medical facilities across the United States. The Real Estate Investments segment earns primarily triple-net rent from independent living, assisted living, memory care, entrance-fee communities, senior living campuses, skilled nursing facilities and hospitals, alongside interest from mortgage, construction and mezzanine financing.
The SHOP segment owns senior housing communities whose third-party managers generate resident fees and services. This combination pairs contractual lease and lending income with direct exposure to occupancy and operating costs. The recently completed sale of its original NHC properties, mostly skilled nursing facilities, sharpened the focus on private-pay senior housing while acquisitions expanded SHOP.
Cash generation depends on tenant, manager and borrower performance; REIT status requires ongoing compliance with asset, income, distribution and ownership tests.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | National Bank | Target | Target: $85 | Target: $79 |
| Sep 2, 2026 | Truist Financial | Target | Target: $81 | Target: $80 |
| Sep 1, 2026 | Wells Fargo | Reiterate | Rating: —Target: $86 | Target: $78 |
| Jun 25, 2026 | Deutsche Bank | Reiterate | Rating: —Target: — | Target: $80 |
| Jun 15, 2026 | BMO Capital | Reiterate | Rating: —Target: $61 | Target: $80 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $30.4M · Total debt $1.28B · Total assets $2.96B · Shareholders' equity $1.57B
- Revenue
- $121.3M
- Operating income
- $50.3M
- Net income
- $55.7M
HistoryDividendAnnual yieldUpcoming
| Institutions | 79.46% | 39.02M shares | |
|---|---|---|---|
| 311 holders · as of Jun 30, 2026 | |||
| Insiders | 1.61% | 792.1K shares | |
| 16 holders · as of Jul 30, 2026 | |||
| Other | 18.93% | 9.29M shares | |
| remainder | |||
49.11M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 17.78% | 8.73M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 9.43% | 4.63M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.57% | 2.74M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.27% | 2.10M | as of Jun 30, 2026 |
Principal Financial Group IncInstitution | 4.03% | 1.98M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 15, 2026 | Robert A. Jr Mccabe | director | +890 | $71.65 |
| Jun 5, 2026 | D. Eric Mendelsohn | director, officer: CEO and President | +1,500 | $68.84 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| National Health Investors | $67.43 | −0.65% | $3.29B | 19.6 | 19.8 | 7.6 | +1.6% |
| CareTrust REIT | $37.35 | −0.88% | $8.90B | 23.4 | 23.0 | 16.4 | +37.4% |
| Omega Healthcare Investors | $46.69 | −0.31% | $14.01B | 16.7 | 24.0 | 10.8 | +11.5% |
| Sabra Health Care REIT | $19.89 | +0.08% | $5.01B | 75.7 | 27.4 | 5.8 | +24.7% |
| LTC Properties | $42.45 | −1.00% | $2.19B | 15.4 | 21.6 | 6.3 | −46.2% |
| Welltower | $231.02 | −0.75% | $167.72B | 123.2 | 83.4 | 13.3 | +39.1% |
| Ventas | $86.97 | −0.07% | $42.31B | 161.2 | 120.4 | 6.6 | +21.7% |
| Median | 49.6 | 25.7 | 8.7 | +23.2% |