Principal Financial Group Inc. Sells 201,140 Shares of National Health Investors, Inc. (NYSE:NHI)

Principal Financial Group Inc. reduced its stake in shares of National Health Investors, Inc. (NYSE:NHI) by 11.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,565,674 shares of the real estate investment trust’s stock after selling 201,140 shares during the period. Principal Financial Group Inc.’s holdings in National Health Investors were worth $131,609,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its position in National Health Investors by 2,651.9% during the second quarter. Blue Trust Inc. now owns 743 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 716 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of National Health Investors during the 2nd quarter valued at about $5,089,000. International Assets Investment Management LLC bought a new stake in National Health Investors in the 2nd quarter worth approximately $36,000. Van ECK Associates Corp boosted its stake in National Health Investors by 6.9% in the second quarter. Van ECK Associates Corp now owns 6,404 shares of the real estate investment trust’s stock worth $434,000 after buying an additional 416 shares in the last quarter. Finally, Rhumbline Advisers grew its position in National Health Investors by 2.2% during the second quarter. Rhumbline Advisers now owns 81,910 shares of the real estate investment trust’s stock valued at $5,548,000 after acquiring an additional 1,727 shares during the last quarter. 62.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NHI shares. Wells Fargo & Company lowered shares of National Health Investors from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $81.00 to $86.00 in a report on Tuesday, October 1st. Truist Financial upped their price target on shares of National Health Investors from $65.00 to $78.00 and gave the company a “hold” rating in a research report on Friday, August 30th. StockNews.com downgraded National Health Investors from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Bank of America began coverage on National Health Investors in a research note on Tuesday, September 24th. They issued a “buy” rating and a $92.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, National Health Investors currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.33.

National Health Investors Price Performance

NHI stock opened at $69.85 on Friday. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 4.86 and a beta of 1.04. The firm’s 50-day moving average price is $76.18 and its two-hundred day moving average price is $75.52. The company has a current ratio of 10.29, a quick ratio of 10.29 and a debt-to-equity ratio of 0.92. National Health Investors, Inc. has a 12-month low of $51.59 and a 12-month high of $86.13.

National Health Investors (NYSE:NHI) last posted its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.42). The business had revenue of $63.32 million during the quarter, compared to the consensus estimate of $67.93 million. National Health Investors had a return on equity of 10.11% and a net margin of 38.53%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 earnings per share. As a group, equities analysts predict that National Health Investors, Inc. will post 4.42 earnings per share for the current year.

National Health Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.15%. National Health Investors’s dividend payout ratio is presently 123.71%.

National Health Investors Company Profile

Incorporated in 1991, National Health Investors, Inc (NYSE:NHI) is a real estate investment trust specializing in sale, leasebacks, joint-ventures, senior housing operating partnerships, and mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments. NHI's portfolio consists of independent living, assisted living and memory care communities, entrance-fee retirement communities, skilled nursing facilities, and specialty hospitals.