National Health Investors IncNHI
What National Health Investors Inc does.
National Health Investors, Inc. (“NHI”, the “Company”, “we”, “us” or “our”), established in 1991 as a Maryland corporation, is a self-managed real estate investment trust (“REIT”). We own, lease, operate and finance the development of high-quality real estate properties, focusing on senior housing communities and medical facilities. We operate through two reportable segments, Real Estate Investments and Senior Housing Operating Portfolio (“SHOP”).
Our investments in senior housing communities, also referred to as senior housing properties (“SHO”), include independent living facilities (“ILF”), assisted living facilities (“ALF”), entrance fee communities (“EFC”) and senior living campuses (“SLC”). Our investments in medical facilities include skilled nursing facilities (“SNF”) and hospitals (“HOSP”). Our financing arrangements consist of mortgages, construction loans, mezzanine loans and revolving lines of credit extended to our tenants, operators, or affiliates of our tenants and operators, and other third parties.
As of December 31, 2025, our Real Estate Investments segment consisted of gross real estate investments of $2.7 billion in 176 properties, excluding one property classified as assets held for sale, which are located in 32 states and leased pursuant primarily to triple-net leases to 31 tenants. These investments included 110 SHOs, 65 SNFs and one HOSP. Additionally, our investments included $218.7 million in principal amounts of mortgage and other notes receivable, excluding $15.4 million of credit loss reserves.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $332.8M | $298.7M | $278.2M | $319.8M | $335.2M | $375.6M |
| Net income | $185.1M | $111.8M | $66.4M | $135.7M | $138.0M | $142.2M |
| Free cash flow | $115.4M | $160.5M | $174.3M | $134.9M | $49.8M | -$57.5M |
More on NHI.
- National Health Investors Inc summary
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- National Health Investors Inc earnings
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- National Health Investors Inc valuation
- National Health Investors Inc ownership and insiders
- National Health Investors Inc peers
Figures from National Health Investors Inc's filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.