National Health Investors, Inc. (NHI) Stock Analysis
Real Estate · REIT - Healthcare Facilities
Sell if holding. At $70.64, A.R:R 0.8:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 4.4%; Consecutive earnings misses (2).
National Health Investors is a self-managed healthcare REIT with $2.7B in Real Estate Investments across 176 properties in 32 states leased via triple-net leases, plus a $634.3M SHOP segment of 26 senior housing communities. Total revenues were $375.6M in 2025, comprising 72.3%... Read more
Sell if holding. At $70.64, A.R:R 0.8:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 4.4%; Consecutive earnings misses (2). Chart setup: No clear chart pattern; technical signals are mixed. Score 5.3/10, moderate confidence.
Passes 6/8 gates (positive momentum, clean insider activity, no SEC red flags, earnings proximity 52d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: aggressive.
About National Health Investors, Inc.
About National Health Investors, Inc.
National Health Investors generated $375.6 million in total revenues during 2025—a 12.1% increase over the prior year—from 176 triple-net-leased properties ($2.7 billion gross value) across 32 states leased to 31 tenants, plus 26 SHOP senior housing communities with 3,009 units operated by third-party managers. The portfolio comprised 110 senior housing properties, 65 skilled nursing facilities, and one hospital as of December 31, 2025. Rental income ($271.6 million, 72.3% of revenues), SHOP resident fees ($80.1 million, 21.3%), and interest and other income ($24.0 million, 6.4%) made up the revenue mix.
The company earns rental income through triple-net leases with initial terms of 10 to 15 years and one or more five-year renewal options; most leases include annual rent escalators recognized on a straight-line basis. Under the NNN structure, tenants pay taxes, utilities, insurance, and capital expenditures. The SHOP segment uses the RIDEA structure—NHI owns properties through consolidated partnerships (16 of 26 communities held in consolidated joint ventures) while third-party managers like Life Care Services operate them for a management fee. A $218.7 million note receivable portfolio, consisting of 11 mortgage loans at 7.3%–12.0%, nine mezzanine loans at 6.0%–10.0%, and four construction loans at 8.5%–9.0%, provides additional interest income and future acquisition optionality. NHI competes for healthcare real estate acquisitions with other REITs, private equity funds, banks, and insurance companies.
Show full overview
Tenant credit concentration is the dominant balance-sheet risk for NHI's Real Estate Investments segment. The 10-K discloses that a small number of tenants account for a significant percentage of rental income, and a board-level conflict of interest is flagged through a director who also chairs National HealthCare Corporation's (NHC) board. In April 2026, NHI entered a Purchase and Sale Agreement for NHC to acquire 32 skilled nursing facilities and three independent living facilities for $560 million—removing the NHC Master Lease from the portfolio and converting the company's largest tenant relationship into a one-time disposition that materially reshapes the Real Estate Investments segment.
See also: Real Estate · REIT - Healthcare Facilities
From National Health Investors, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-06-15Recent Developments — National Health Investors, Inc.
Latest news
- NEWS National Health Investors CFO to retire; successor named - MSN — MSN neutral
- NEWS M&T Bank Corp Buys Shares of 39,236 National Health Investors, Inc. $NHI - MarketBeat — MarketBeat neutral
- NEWS Nhi Hiep Brick-Tile Co-Operation Faces Valuation Shift Amid Mixed Performance Indicators - Markets Mojo — Markets Mojo neutral
- NEWS National Health Investors is the most oversold real estate stock as Q1 earnings roll on - MSN — MSN negative
- NEWS National Health Investors sells portfolio for $560M - Nashville Post — Nashville Post positive
Generated 2026-06-17T09:12:25Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
1 floor-breaker
Revenue shrinking — -2.6% YoY. Growth thesis broken unless recovery story develops.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. At $70.64, A.R:R 0.8:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 4.4%; Consecutive earnings misses (2). Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $66.72. Score 5.3/10, moderate confidence.
Take-profit target: $73.73 (+4.4% upside). Prior stop was $66.72. Stop-loss: $66.72.
Thin upside margin: 4.4%; Consecutive earnings misses (2); Weak growth.
National Health Investors, Inc. trades at a P/E of 23.3 (forward 20.3). TrendMatrix value score: 4.8/10. Verdict: Sell.
12 analysts cover NHI with a consensus score of 3.8/5. Average price target: $85.
What does National Health Investors, Inc. do?National Health Investors is a self-managed healthcare REIT with $2.7B in Real Estate Investments across 176 properties...
National Health Investors is a self-managed healthcare REIT with $2.7B in Real Estate Investments across 176 properties in 32 states leased via triple-net leases, plus a $634.3M SHOP segment of 26 senior housing communities. Total revenues were $375.6M in 2025, comprising 72.3% rental income, 21.3% resident fees, and 6.4% interest/other. NHI is selling 32 skilled nursing and 3 independent living facilities to NHC for $560M.