Fintel reports that on September 20, 2023, Jefferies initiated coverage of National Health Investors (NYSE:NHI) with a Hold recommendation.
Analyst Price Forecast Suggests 13.94% Upside
As of August 31, 2023, the average one-year price target for National Health Investors is 57.63. The forecasts range from a low of 54.54 to a high of $60.90. The average price target represents an increase of 13.94% from its latest reported closing price of 50.58.
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The projected annual revenue for National Health Investors is 321MM, an increase of 4.44%. The projected annual non-GAAP EPS is 2.98.
National Health Investors Declares $0.90 Dividend
On August 8, 2023 the company declared a regular quarterly dividend of $0.90 per share ($3.60 annualized). Shareholders of record as of September 29, 2023 will receive the payment on November 3, 2023. Previously, the company paid $0.90 per share.
At the current share price of $50.58 / share, the stock's dividend yield is 7.12%.
Looking back five years and taking a sample every week, the average dividend yield has been 6.24%, the lowest has been 4.64%, and the highest has been 11.40%. The standard deviation of yields is 0.99 (n=236).
The current dividend yield is 0.88 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.41. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.18%.
What is the Fund Sentiment?
There are 436 funds or institutions reporting positions in National Health Investors. This is a decrease of 17 owner(s) or 3.75% in the last quarter. Average portfolio weight of all funds dedicated to NHI is 0.14%, an increase of 1.79%. Total shares owned by institutions increased in the last three months by 2.35% to 30,237K shares. 
The put/call ratio of NHI is 0.76, indicating a bullish outlook.
What are Other Shareholders Doing?
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 1,907K shares representing 4.39% ownership of the company. In it's prior filing, the firm reported owning 1,991K shares, representing a decrease of 4.44%. The firm decreased its portfolio allocation in NHI by 10.24% over the last quarter.
Principal Financial Group holds 1,645K shares representing 3.79% ownership of the company. In it's prior filing, the firm reported owning 1,082K shares, representing an increase of 34.20%. The firm increased its portfolio allocation in NHI by 43.07% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,283K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 1,278K shares, representing an increase of 0.40%. The firm decreased its portfolio allocation in NHI by 5.85% over the last quarter.
Macquarie Group holds 1,078K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 1,115K shares, representing a decrease of 3.41%. The firm increased its portfolio allocation in NHI by 1.62% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,064K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 1,079K shares, representing a decrease of 1.39%. The firm decreased its portfolio allocation in NHI by 4.64% over the last quarter.
National Health Investors Background Information
(This description is provided by the company.)
Incorporated in 1991, National Health Investors, Inc. 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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