National Health Investors, Inc. NHI
Established in 1991, National Health Investors, Inc. (NYSE: NHI) operates as a real estate investment trust (REIT) primarily focused on providing capital for senior living and medical real estate assets. The company facilitates this through diverse financing options, including sale-leaseback arrangements, joint ventures, and various debt instruments such as mortgage and mezzanine loans, targeting properties that cater to both essential care needs and discretionary services. NHI's broad holdings feature independent living, assisted living, and memory care facilities, as well as entrance-fee retirement communities, skilled nursing homes, medical office complexes, and specialized hospitals.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-26 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model NHI yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $378.53M | $142.18M | $83.84M | $282.00M | $240.23M |
| 2024 | $335.18M | $137.99M | $71.44M | $264.16M | $208.17M |
| 2023 | $319.83M | $135.65M | $69.97M | $259.87M | $184.45M |
| 2022 | $278.19M | $66.40M | $70.88M | $178.73M | $185.34M |
| 2021 | $298.71M | $111.80M | $80.80M | $240.94M | $210.86M |
| 2020 | $332.81M | $185.13M | $83.15M | $318.00M | $232.15M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-09-30 | 2026-09-30 | 2026-11-06 | 2026-08-07 | $0.94 | Quarterly |
| 2026-06-30 | 2026-06-30 | 2026-08-07 | 2026-05-04 | $0.92 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-05-01 | 2026-02-17 | $0.92 | Quarterly |
| 2025-12-31 | 2025-12-31 | 2026-01-30 | 2025-11-06 | $0.92 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-31 | 2025-08-06 | $0.92 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-08-01 | 2025-05-05 | $0.90 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-05-02 | 2025-02-25 | $0.90 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-29 | 2024-11-05 | $0.90 | Quarterly |
| 2024-09-27 | 2024-09-27 | 2024-11-01 | 2024-08-06 | $0.90 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-08-02 | 2024-05-06 | $0.90 | Quarterly |
| 2024-03-27 | 2024-03-28 | 2024-05-03 | 2024-02-20 | $0.90 | Quarterly |
| 2023-12-28 | 2023-12-29 | 2024-01-26 | 2023-11-07 | $0.90 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-11-03 | 2023-08-08 | $0.90 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-08-04 | 2023-05-09 | $0.90 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-05-05 | 2023-02-21 | $0.90 | Quarterly |
| 2022-12-29 | 2022-12-30 | 2023-01-27 | 2022-11-08 | $0.90 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-11-04 | 2022-08-08 | $0.90 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-08-05 | 2022-05-09 | $0.90 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-05-06 | 2022-02-22 | $0.90 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-31 | 2021-11-08 | $0.90 | Quarterly |
| 2021-09-29 | 2021-09-30 | 2021-11-05 | 2021-08-09 | $0.90 | Quarterly |
| 2021-06-29 | 2021-06-30 | 2021-08-06 | 2021-06-03 | $0.90 | Quarterly |
| 2021-03-30 | 2021-03-31 | 2021-05-07 | 2021-03-12 | $1.10 | Quarterly |
| 2020-12-30 | 2020-12-31 | 2021-01-29 | 2020-12-15 | $1.10 | Quarterly |
Coverage (payout of operating cash flow): 73.65%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — NHI
Primary Health Properties (OTCMKTS:PHPRF) versus National Health Investors (NYSE:NHI) Head-To-Head Review
Canada Pension Plan Investment Board Invests $1.23 Million in National Health Investors, Inc. $NHI
CUZ vs. NHI: Which Stock Should Value Investors Buy Now?
Beacon Pointe Advisors LLC Acquires New Stake in National Health Investors, Inc. $NHI
Deutsche Bank AG Acquires Shares of 121,326 National Health Investors, Inc. $NHI
BlackRock Inc. Buys New Position in National Health Investors, Inc. $NHI
Diversified Healthcare Trust (NASDAQ:DHCNL) and National Health Investors (NYSE:NHI) Head to Head Contrast
Brokerages Set National Health Investors, Inc. (NYSE:NHI) Price Target at $83.86
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
Other Health Care REITs
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.