NATIONAL HEALTH INVESTORS INC(NHI)Stock Analysis
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Rank #419 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
NHI Stock Analysis & AI Quality Score
AI stock analysis and institutional research for NATIONAL HEALTH INVESTORS INC (NHI), a Real Estate sector company. 13F Pro's AI-powered ranking engine scores NHI at 68.3/100 on a 32-signal composite quality model, placing it at rank #419 of 2,879 stocks — the top 25% of the AI-ranked universe. NHI scores in the top quartile across free cash flow (97.8), profitability (97.4), revenue growth (76.8). Areas of concern include revenue scale (13.2) and earnings quality (37.5), which score below median versus the broader universe. Shareholder dilution risk is elevated at 47.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q4 2025), NATIONAL HEALTH INVESTORS INC reports quarterly revenue of $105.8M, net income of $38.2M, an operating margin of 36.1%. Top institutional holders of NHI by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. NHI trades on the NYSE exchange and files with the SEC under CIK 877860. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NHI daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NATIONAL HEALTH INVESTORS INC directly from SEC EDGAR. NATIONAL HEALTH INVESTORS INC's 13F Pro composite quality score has ranged between 48 and 77 since 2021, currently 68.3 — a stable long-term trajectory across 28 quarterly and live scoring snapshots.
What's Driving NHI's Business? Latest 10-Q Breakdown
AI-extracted from NATIONAL HEALTH INVESTORS INC's 10-Q filed 2026-05-04 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
NHI reported Q1 2026 net income of $39.8M (+17.6% YoY) on total revenues of $115.1M (+28.9% YoY), driven by SHOP segment acquisitions and resident fee growth, while executing $560M sale of NHC portfolio.
Biggest Revenue Drivers
Total revenue: $115.1M+28.9% YoY
Real estate properties acquired since January 1, 2025 added $4.7M; fixed escalators and variable escalators contributed to growth.
Net reduction in principal amounts of mortgage and other notes receivable outstanding in current period.
Largest Expense Items
Increased due to acquisitions completed since January 1, 2025; includes in-place lease intangible asset amortization.
2033 Senior Notes issued September 2025 contributed; partially offset by lower borrowings on revolving credit facility.
Higher compensation costs compared to prior year period.
Watch Items from the Filing
- NHC leased portfolio sale for $560M pending Hart-Scott-Rodino approval, anticipated July 2026 close; represents $13.8M net carrying amount but 10.3% of Q1 2026 revenues (11.9M); successful completion critical for capital redeployment strategy.
- Bickford Senior Living represents 9.4% of revenues ($10.9M) and 38 properties; classified as cash-basis tenant since 2022 due to going-concern uncertainty; April 2026 lease amendments increased base rent to $38.4M annually with 2.0-3.0% escalators and contingent rent provisions.
- Senior Living Communities LLC represents 12.4% of revenues ($14.3M) with 11 leased SHOs; straight-line rent negative adjustments of $0.4M in Q1 2026 indicate collectability concerns; occupancy trending lower at 86.6% vs. 84.9% sequentially.
- SHOP segment occupancy at 86.6% (Q1 2026) versus 86.9% (Q4 2025); operating portfolio expanded to 35 communities with 3,469 units; leverage via acquisitions of 13 properties (799 units) and 7 transitioned properties (938 units) since January 1, 2025.
- Mortgage and other notes receivable net of $15.3M credit loss reserves; two non-performing loans fully reserved ($12.0M unsecured SLM mezzanine, $1.2M unsecured Bickford); weighted 20% increase in probability of default and 20% loss increase applied to all other loans as of March 31, 2026.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q4 2025
$105.8M
Net Income
Q4 2025
$38.2M
Free Cash Flow
Q4 2025
$67.7M
Operating Margin
Q4 2025
36.1%
ROIC
Q4 2025
1.4%
D/E Ratio
Q4 2025
0.76
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+12.1% YoYNet Income
+3.0% YoYEPS (Diluted)
-3.5% YoYTotal Assets
+7.0% YoYTotal Debt
+1.6% YoYOp. Cash Flow
+13.9% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $375.6M +12.1% | $335.2M +4.8% | $319.8M +7.1% | $298.7M -10.2% | $332.8M +4.6% | $318.1M |
| Net Income | $142.2M +3.0% | $138.0M +1.7% | $135.7M +21.3% | $111.8M -39.6% | $185.1M +15.4% | $160.5M |
| EPS (Diluted) | $3.02 -3.5% | $3.13 +0.0% | $3.13 +28.3% | $2.44 -41.1% | $4.14 +12.8% | $3.67 |
| Total Assets | $2.80B +7.0% | $2.61B +5.1% | $2.49B -12.3% | $2.84B -9.0% | $3.12B +2.6% | $3.04B |
| Total Debt | $1.16B +1.6% | $1.15B +1.0% | $1.14B -8.7% | $1.24B -17.1% | $1.50B +4.1% | $1.44B |
| Operating Cash Flow | $236.6M +13.9% | $207.8M +12.6% | $184.4M -12.5% | $210.9M -9.2% | $232.1M -3.7% | $241.0M |
AI Insight: NHI Financial Trends
Revenue surged 23% to $106M in Q4 2025 while debt-to-equity improved from 0.91x to 0.76x over the year.
• Revenue grew from $86M in Q4 2024 to $106M in Q4 2025, marking 23% year-over-year growth.
• Total debt decreased from $1,263M in Q1 2025 to $1,164M in Q4 2025 while equity strengthened.
• Operating cash flow increased from $46M in Q1 2025 to $68M in Q4 2025.
⚠ Net income volatility continues with fluctuation between $29M-$43M across recent quarters despite revenue growth.
⚠ Revenue dipped to $90M in Q3 2025 from $91M in Q2 2025 before rebounding strongly in Q4.
AI Insight: NHI Ratio Trends
NHI's net profit margin declined from 50.4% in Q4 2024 to 36.1% in Q4 2025, while debt-to-equity improved from 0.91 to 0.76.
• Net profit margin fell from 50.4% in Q4 2024 to 36.1% in Q4 2025, erasing prior gains.
• Debt-to-equity ratio improved from 0.91 in Q1 2024 to 0.76 in Q4 2025, strengthening balance sheet.
• ROE declined from 12.7% in Q4 2024 to 10.0% in Q4 2025 despite deleveraging efforts.
⚠ Net profit margin volatility remains high, swinging from 34.4% to 50.4% across recent quarters.
⚠ ROA has plateaued around 5% range since Q2 2024 despite balance sheet improvements.
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Top Institutional Holders of NHI
BlackRock, Inc.
$388.7M4,806,857 shVANGUARD PORTFOLIO MANAGEMENT LLC
$334.9M4,142,216 shVANGUARD CAPITAL MANAGEMENT LLC
$168.6M2,084,620 shSTATE STREET CORP
$161.4M1,974,390 shPRINCIPAL FINANCIAL GROUP INC
$137.5M1,700,908 shGEODE CAPITAL MANAGEMENT, LLC
$106.0M1,311,240 shPRUDENTIAL FINANCIAL INC
$92.0M1,137,183 shBANK OF AMERICA CORP /DE/
$80.3M992,802 shNOMURA ASSET MANAGEMENT INTERNATIONAL INC.
$72.6M897,302 shCHARLES SCHWAB INVESTMENT MANAGEMENT INC
$66.8M825,991 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $388.7M | 4,806,857 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $334.9M | 4,142,216 |
| VANGUARD CAPITAL MANAGEMENT LLC | $168.6M | 2,084,620 |
| STATE STREET CORP | $161.4M | 1,974,390 |
| PRINCIPAL FINANCIAL GROUP INC | $137.5M | 1,700,908 |
| GEODE CAPITAL MANAGEMENT, LLC | $106.0M | 1,311,240 |
| PRUDENTIAL FINANCIAL INC | $92.0M | 1,137,183 |
| BANK OF AMERICA CORP /DE/ | $80.3M | 992,802 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $72.6M | 897,302 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $66.8M | 825,991 |
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Is NHI a good stock to buy?
13F Pro's AI-powered analysis of NATIONAL HEALTH INVESTORS INC (NHI) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Real Estate sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NHI are available on the NHI stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own NHI?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling NHI. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of NATIONAL HEALTH INVESTORS INC's investment landscape.