Principal Financial Group Inc. Has $131.61 Million Stock Position in National Health Investors, Inc. (NYSE:NHI)

Principal Financial Group Inc. cut its stake in National Health Investors, Inc. (NYSE:NHI - Free Report) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,565,674 shares of the real estate investment trust's stock after selling 201,140 shares during the quarter. Principal Financial Group Inc. owned approximately 3.60% of National Health Investors worth $131,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new position in National Health Investors during the second quarter worth $28,000. International Assets Investment Management LLC acquired a new position in National Health Investors during the second quarter worth $36,000. Blue Trust Inc. increased 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 worth $47,000 after buying an additional 716 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in National Health Investors during the third quarter worth $70,000. Finally, USA Financial Formulas increased its position in National Health Investors by 172.8% during the third quarter. USA Financial Formulas now owns 922 shares of the real estate investment trust's stock worth $78,000 after buying an additional 584 shares during the last quarter. 62.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NHI has been the topic of several analyst reports. Wells Fargo & Company downgraded shares of National Health Investors from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $81.00 to $86.00 in a research report on Tuesday, October 1st. StockNews.com downgraded shares of National Health Investors from a "buy" rating to a "hold" rating in a research report on Tuesday, October 15th. Truist Financial raised their price target on National Health Investors from $65.00 to $78.00 and gave the company a "hold" rating in a research report on Friday, August 30th. Finally, Bank of America assumed coverage on National Health Investors in a research report on Tuesday, September 24th. They issued a "buy" rating and a $92.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $73.29.

National Health Investors Stock Performance

Shares of NYSE:NHI traded up $1.56 during midday trading on Friday, hitting $81.20. The company's stock had a trading volume of 511,070 shares, compared to its average volume of 290,365. The company has a debt-to-equity ratio of 0.92, a quick ratio of 10.27 and a current ratio of 10.29. The stock's 50 day simple moving average is $80.36 and its 200 day simple moving average is $73.34. National Health Investors, Inc. has a fifty-two week low of $50.12 and a fifty-two week high of $86.13. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 5.16 and a beta of 1.05.

National Health Investors (NYSE:NHI - Get Free Report) last released its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.42). National Health Investors had a return on equity of 10.11% and a net margin of 38.53%. The firm had revenue of $63.32 million for the quarter, compared to analyst estimates of $67.93 million. During the same period last year, the business earned $1.08 earnings per share. The firm's quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts anticipate that National Health Investors, Inc. will post 4.44 earnings per share for the current year.

National Health Investors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, December 31st will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Tuesday, December 31st. National Health Investors's dividend payout ratio (DPR) is presently 123.71%.

About National Health Investors

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.