National Health Investors, Inc. (NHI)

In August 2025, NHI demonstrated strong second-quarter performance, exceeding expectations and leading to a second upward revision of its full-year guidance, driven by robust operational execution, an accelerated pace of acquisitions, and significant growth in its Senior Housing Operating Portfolio (SHOP) segment. NHI announced its first dividend increase in four years, raising its quarterly dividend to $0.92 per share, payable in October 2025, and made strategic moves to transition seven properties from triple-net leases to SHOP. In October 2025, S&P Global Ratings affirmed NHI's credit ratings, expecting continued improvement in operator health and coverage levels, and NHI announced the acquisition of four properties for $74.3 million to be included in its SHOP segment. In November 2025, NHI announced strong third-quarter results, with normalized FFO per diluted share increasing significantly year-over-year, highlighted by the transition of seven properties to its SHOP portfolio, resulting in substantial year-over-year growth in consolidated SHOP NOI. The company also announced its first SHOP acquisition for $74.3 million and increased its guidance for the third time in 2025. In December 2025, NHI announced investments of $89.2 million across four separate transactions and updated its pipeline, indicating approximately $214.0 million in signed letters of intent and an incremental pipeline of about $423 million in senior housing investments. In January 2026, NHI's stock received an upgrade to a Zacks Rank #2 (Buy), reflecting growing optimism about its earnings prospects, and showed buy signals from both short and long-term Moving Averages.

The healthcare REIT sector, in which NHI operates, generally exhibits seasonal strength from April through December, corresponding to healthcare conferences in the spring and fall. Healthcare REITs are often considered defensive investments due to the inelastic demand for healthcare services. NHI's Senior Housing Operating Portfolio (SHOP) can be impacted by seasonality, which resulted in slower NOI growth in Q1 2025. The overall demand for healthcare real estate is fundamentally driven by long-term demographic trends, particularly the growing number of people aged 80 and older.

National Health Investors, Inc. (NHI) is a self-managed real estate investment trust established in 1991, focusing on income-producing healthcare properties, especially senior housing and medical office buildings. Its portfolio includes independent living, assisted living, memory care communities, entrance-fee retirement communities, senior living campuses, specialty hospitals, and skilled nursing facilities. NHI generates rental income through long-term lease agreements with healthcare operators.

NHI has a substantial market presence across the United States with over 200 properties located across 30 states as of 2024. The company's headquarters are in Murfreesboro, Tennessee, US. NHI has invested in healthcare facilities nationwide, including properties in states such as Nebraska, Pennsylvania, Alabama, South Carolina, and Texas, among others.

NHI's brand reputation in the past year appears to be positive, supported by strong financial performance and strategic growth initiatives. The company has been recognized for its commitment to operational excellence, strong tenant relationships, and a deep understanding of the healthcare real estate environment. Analysts have maintained "Buy" and "Overweight" recommendations for NHI, indicating a favorable view of the company. Key events that have positively affected NHI's reputation include strong financial results and guidance increases, a dividend increase, strategic acquisitions and portfolio transitions, a strong balance sheet and credit ratings, and positive analyst sentiment. One potential area of scrutiny mentioned in October 2025 was NHI's discussions with National HealthCare Corp. (NHC), its second-largest tenant, regarding a lease expiration in 2026.

Institutional investors hold a significant portion of National Health Investors, Inc. stock, owning over 50% of the company. Major institutional shareholders include The Vanguard Group, Inc., BlackRock, Inc., State Street Corp, Principal Financial Group Inc., JPMorgan Chase & Co., and Geode Capital Management LLC. The Vanguard Group, Inc. is the largest shareholder. Individual investors and the general public also hold a notable stake in the company. Andrew Adams is the largest individual shareholder.