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NHI

National Health InvestorsNYSE:NHI Stock Report

Market Cap

US$2.4b

7D

-5.3%

1Y

-20.2%

Updated

30 Nov, 2021

Data

Company Financials +
NHI fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance2/6
Financial Health3/6
Dividends5/6

NHI Stock Overview

Incorporated in 1991, National Health Investors, Inc.

National Health Investors Competitors

Welltower

NYSE:WELL

US$34.7b

Healthpeak Properties

NYSE:PEAK

US$18.0b

Medical Properties Trust

NYSE:MPW

US$12.7b

Omega Healthcare Investors

NYSE:OHI

US$6.9b

Price History & Performance

Summary of all time highs, changes and price drops for National Health Investors
Historical stock prices
Current Share PriceUS$52.24
52 Week HighUS$78.56
52 Week LowUS$51.61
Beta0.94
1 Month Change-2.86%
3 Month Change-13.67%
1 Year Change-20.20%
3 Year Change-32.65%
5 Year Change-26.94%
Change since IPO156.39%

Recent News & Updates

Nov 17

National Health Management Believes The 6.4% Yield Is Sustainable

National Health Investors, Inc. is hovering near 52-week lows and appears cheap based on most REIT metrics. Outside a brief trade last year from the long side, we have still stayed out. Q3-2021 results missed the mark and delivered a lot of key development news as well.

Oct 11

National Health Investors: Strong Fundamentals, Low Price, Long-Term Investment

National Health Investors is a REIT with main interest in the Senior Living segment. The REIT has a strong track record and is currently in a recovery phase from the pandemic. The REIT stock is trading close to its 52-week lows.

Sep 26

National Health Investors: Buy 'Em When They're Cheap

The renewal of the pandemic in mid-2021 has not been kind to National Health Investors, which faces staffing and occupancy issues. A dividend cut earlier this year and other issues have sent National Health Investors' share price into a tailspin, and the chart is like looking at a crime scene. However, if you are a true value investor and don't just play one on TV, National Health Investors is valued very attractively.

Shareholder Returns

NHIUS REITsUS Market
7D-5.3%-2.7%-2.8%
1Y-20.2%26.7%20.0%

Return vs Industry: NHI underperformed the US REITs industry which returned 26.7% over the past year.

Return vs Market: NHI underperformed the US Market which returned 20% over the past year.

Price Volatility

Is NHI's price volatile compared to industry and market?
NHI volatility
NHI Average Weekly Movement3.6%
REITs Industry Average Movement3.5%
Market Average Movement6.0%
10% most volatile stocks in US Market15.0%
10% least volatile stocks in US Market2.3%

Stable Share Price: NHI is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: NHI's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
199120D. Mendelsohnhttps://www.nhireit.com

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.

National Health Investors Fundamentals Summary

How do National Health Investors's earnings and revenue compare to its market cap?
NHI fundamental statistics
Market CapUS$2.40b
Earnings (TTM)US$142.47m
Revenue (TTM)US$306.91m

16.8x

P/E Ratio

7.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NHI income statement (TTM)
RevenueUS$306.91m
Cost of RevenueUS$9.98m
Gross ProfitUS$296.92m
ExpensesUS$154.46m
EarningsUS$142.47m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)3.11
Gross Margin96.75%
Net Profit Margin46.42%
Debt/Equity Ratio83.1%

How did NHI perform over the long term?

See historical performance and comparison

Dividends

6.9%

Current Dividend Yield

87%

Payout Ratio

Does NHI pay a reliable dividends?

See NHI dividend history and benchmarks
When do you need to buy NHI by to receive an upcoming dividend?
National Health Investors dividend dates
Ex Dividend DateDec 30 2021
Dividend Pay DateJan 31 2022
Days until Ex dividend28 days
Days until Dividend pay date60 days

Does NHI pay a reliable dividends?

See NHI dividend history and benchmarks

Valuation

Is National Health Investors undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NHI ($52.24) is trading below our estimate of fair value ($169.85)

Significantly Below Fair Value: NHI is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: NHI is good value based on its PE Ratio (16.8x) compared to the US REITs industry average (45.6x).

PE vs Market: NHI's PE Ratio (16.8x) is in line with the US market.


Price to Earnings Growth Ratio

PEG Ratio: NHI is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: NHI is good value based on its PB Ratio (1.6x) compared to the US REITs industry average (2x).


Future Growth

How is National Health Investors forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

9.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NHI's forecast earnings growth (9.9% per year) is above the savings rate (2%).

Earnings vs Market: NHI's earnings (9.9% per year) are forecast to grow slower than the US market (14.2% per year).

High Growth Earnings: NHI's earnings are forecast to grow, but not significantly.

Revenue vs Market: NHI's revenue (7.7% per year) is forecast to grow slower than the US market (10.1% per year).

High Growth Revenue: NHI's revenue (7.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if NHI's Return on Equity is forecast to be high in 3 years time


Past Performance

How has National Health Investors performed over the past 5 years?

1.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NHI has high quality earnings.

Growing Profit Margin: NHI's current net profit margins (46.4%) are lower than last year (57.3%).


Past Earnings Growth Analysis

Earnings Trend: NHI's earnings have grown by 1.4% per year over the past 5 years.

Accelerating Growth: NHI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: NHI had negative earnings growth (-25%) over the past year, making it difficult to compare to the REITs industry average (27.7%).


Return on Equity

High ROE: NHI's Return on Equity (9.2%) is considered low.


Financial Health

How is National Health Investors's financial position?


Financial Position Analysis

Short Term Liabilities: NHI's short term assets ($181.5M) exceed its short term liabilities ($62.2M).

Long Term Liabilities: NHI's short term assets ($181.5M) do not cover its long term liabilities ($1.3B).


Debt to Equity History and Analysis

Debt Level: NHI's net debt to equity ratio (80%) is considered high.

Reducing Debt: NHI's debt to equity ratio has reduced from 90.9% to 83.1% over the past 5 years.

Debt Coverage: NHI's debt is not well covered by operating cash flow (16.6%).

Interest Coverage: NHI's interest payments on its debt are well covered by EBIT (3.8x coverage).


Balance Sheet


Dividend

What is National Health Investors's current dividend yield, its reliability and sustainability?

6.89%

Current Dividend Yield


Upcoming Dividend Payment

TodayDec 01 2021Ex Dividend DateDec 30 2021Dividend Pay DateJan 31 202232 days from Ex DividendBuy in the next 28 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: NHI's dividend (6.89%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: NHI's dividend (6.89%) is in the top 25% of dividend payers in the US market (3.63%)


Stability and Growth of Payments

Stable Dividend: NHI's dividend payments have been volatile in the past 10 years.

Growing Dividend: NHI's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (86.8%), NHI's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: NHI's dividends in 3 years are forecast to be covered by earnings (65% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.7yrs

Average management tenure


CEO

D. Mendelsohn (59 yo)

6.25yrs

Tenure

US$1,789,030

Compensation

Mr. D. Eric Mendelsohn has been a Director at National Health Investors, Inc since February 17, 2021. Mr. Mendelsohn serves as the Chief Executive Officer and President at National Health Investors Inc. si...


CEO Compensation Analysis

Compensation vs Market: D.'s total compensation ($USD1.79M) is below average for companies of similar size in the US market ($USD3.71M).

Compensation vs Earnings: D.'s compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: NHI's management team is considered experienced (4.7 years average tenure).


Board Members

Experienced Board: NHI's board of directors are considered experienced (8.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: NHI insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.5%.


Top Shareholders

Company Information

National Health Investors, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: National Health Investors, Inc.
  • Ticker: NHI
  • Exchange: NYSE
  • Founded: 1991
  • Industry: Health Care REITs
  • Sector: Real Estate
  • Market Cap: US$2.395b
  • Shares outstanding: 45.85m
  • Website: https://www.nhireit.com

Number of Employees


Location

  • National Health Investors, Inc.
  • 222 Robert Rose Drive
  • Murfreesboro
  • Tennessee
  • 37129
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/11/30 23:56
End of Day Share Price2021/11/30 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.