National Health Investors, Inc.
At today's price, National Health Investors, Inc. (NHI) is priced for -2.5% FFO growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• National Health Investors owns senior housing and skilled-nursing real estate, and it is mid-transition from a pure rent-collector toward owning and operating its buildings directly, with that operating portfolio now close to a quarter of the company. • The clearest risk is the guidance the company just cut: full-year Nareit FFO was lowered to a range of $4.74 to $4.79 per share after a large portfolio sale, so the price has to be paid for what comes next, not for the run rate that was guided
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305 institutional managers reported holding NHI in 13F filings for the quarter ended 2026-03-31. Together they hold about 69% of the company; the top 10 hold 43%. 48 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 1.8M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (4.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
NHI's share count grew 5.4% over the past five years even with $151.95M spent on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting); the current rate is $3.64 a share annually. Cash returned over the past three years: $448.78M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at NHI over the trailing three years: 2023: 1 buy totaling $51k; 2024: 2 buys totaling $616k; 2026: 2 buys totaling $167k. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
NHI's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-09 | -7.5% | -1.3% |
| 2023-11-08 | +0.5% | +6.6% |
| 2024-02-21 | +6.6% | +10.7% |
| 2024-05-07 | +1.4% | +5.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
NHI's latest 8-K filings: 2026-07-01 (items 1.02, 2.01); 2026-07-01 (items 5.02); 2026-06-01 (items 8.01); 2026-05-29 (items 5.07); 2026-05-04 (items 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 24, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.