NHI
Fallen FavouriteNational Health Investors, Inc. · Real Estate · United States · $3.3B cap · $19.8M/day traded
$62.95 -2.5% · close 13 Nov · scored 14 Nov
Score down 1.9 since 13 Nov.
Fallen Favourite: A good business, still expensive, and its momentum is weak.
As of 14 Nov 2026, the MoatMap Score for National Health Investors, Inc. (NHI) is 55/100, ranked against 25,000+ stocks in 38 markets (Quality 69, Value 32, Momentum 49, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
ABOUT NATIONAL HEALTH INVESTORS, INC.
Read
National Health Investors, Inc. is a real estate investment trust (REIT) focused on healthcare facilities, primarily investing in senior housing, skilled nursing facilities, and medical office buildings. Its competitive moat is derived from its diversified portfolio of properties, long-term lease agreements with experienced operators, and a consistent track record of dividend payments. NHI operates as a stable landlord in the healthcare sector, benefiting from demographic trends and essential services.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Income and shares | |||||||||
| Revenue | 278.2M | 319.8M | 335.2M | 375.6M | 10.5% | 435.8M | 457.3M | 487.7M | 14.0% |
| Net margin | 23.9% | 42.4% | 41.2% | 37.9% | +14.0 pts | — | — | — | — |
| EPS | 1.48 | 3.13 | 3.14 | 3.03 | 27.0% | 3.46 | 4.07 | — | 34.3% |
| Share count | 43.4M | 43.4M | 45.7M | 48.3M | 3.6% | 49.1M | — | — | — |
| Balance sheet | |||||||||
| Debt | 1.1B | 1.1B | 1.1B | 1.2B | 0.5% | 1.3B | — | — | — |
| Equity | 1.3B | 1.3B | 1.4B | 1.5B | 6.2% | — | — | — | — |
| Debt/equity | 0.9x | 0.9x | 0.8x | 0.8x | -0.1x | — | — | — | — |
| Cash flow | |||||||||
| Op. cash flow | 185.3M | 184.4M | 207.8M | 236.6M | 8.5% | 248.7M | — | — | — |
| Cash flow margin | 66.6% | 57.7% | 62.0% | 63.0% | -3.6 pts | 57.1% | — | — | — |
| Investing CF | 197.9M | -11.6M | -192.3M | -269.1M | — | — | — | — | — |
| Financing CF | -401.3M | -169.7M | -13.6M | 25.7M | — | — | — | — | — |
No new 52-week low for 2 weeks, 0% above that low, but not back above a rising 50-day average.
Calmer than 84% of stocks we rank over the past year (volatility 25% a year).
How this is worked out
The Price check reads only the chart, the price side of the Momentum score in words; it is not the MoatMap Score.
- Still falling: It set a new 52-week low in the last two weeks, after a deep fall.
- Finding a floor (this stock): It fell hard, but has set no new low for more than two weeks.
- Turning up: It has climbed off its low and is back above a rising 50-day average.
- In an uptrend: It is near its 52-week high and above its 200-day average.
- No clear trend: None of the above: no recent deep fall and no steady climb.
- No read yet: Not enough price history yet: it needs a year of trading.
In past US falls, waiting for Turning up cut the chance of another 20% drop from 42% to 33%. Returns were no better, and 33% of turns failed.
The exact rules
Still falling is a new 52-week low in the last two weeks, at least 25% below the high, with the low set after the high. Finding a floor is the same fall with no new low in the last two weeks. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average, with the 50-day average above the 200-day, and within 15% of the high. No clear trend is everything else. No read yet is under 252 trading days of history, or missing data. A new state shows once it has held for three trading days.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: how much the price moved day to day over the past year, scaled to a yearly figure (annualised volatility) and ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Real Estate, ranked by industry match, size, and score similarity. Cross-listings of NHI are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| NHI | National Health Investors, Inc.(you) | $3.3B | 55 |
| SBRA | Sabra Health Care REIT, Inc. | $5.0B | 55 |
| DOC | Healthpeak Properties, Inc. | $13.6B | 56 |
| CTRE | CareTrust REIT, Inc. | $8.7B | 66 |
| AHR | American Healthcare REIT, Inc. | $11.6B | 48 |
| MPT | Medical Properties Trust, Inc. | $1.6B | 36 |
| DHC | Diversified Healthcare Trust | $1.9B | 31 |
| HR | Healthcare Realty Trust Incorporated | $6.2B | 32 |
| UHT | Universal Health Realty Income Trust | $524M | 61 |
| LTC | LTC Properties, Inc. | $2.4B | 93 |
Peer medians: ROE 4.2% · P/E 24.0x · Gross margin 65.4%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.