“We define Adjusted EBITDA as net income before interest expense, income taxes, depreciation and amortization expense, impairments of real estate properties, gains on dispositions of real estate properties, write-offs of straight-line rents receivable and cert…”10-Q · Aug 10, 2026 ↗
National Health Investors, Inc.
NHI
Market read
National Health Investors, Inc.'s move is spreading beyond its market group.
NHI accounts for 1.6% of the group's measured movement across 5.8 effective names. raw member direction is mixed; 7 of 12 session-normalized paths align to the downside. Capital-flow agreement is 13%, so confirmation is not yet clean. No verified headline preceded the measured group move.
Is this move genuinely shared?
No material onset for NHI could be timestamped inside the aligned 5-minute window.
5 of 19 members in Healthcare REITs are active. 0 of 1 disclosed connections are confirming.
- At least 13 of 19 durable members become active together.
- Capital-flow agreement rises above 55%.
- VTR remains aligned with the group in the next market snapshot.
Invalidation: The live read weakens if participation falls to 6 of 19 members or fewer.
Research brief
The story so far
NHI accounts for 1.6% of the group's measured movement across 5.8 effective names. raw member direction is mixed; 7 of 12 session-normalized paths align to the downside. Capital-flow agreement is 13%, so confirmation is not yet clean. No verified headline preceded the measured group move.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- At least 13 of 19 durable members become active together.
- Capital-flow agreement rises above 55%.
- VTR remains aligned with the group in the next market snapshot.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +47.1% year over year.
- Operating cash flow covered net income at 1.66x in the latest annual period.
- Net margin changed -76.0 percentage points in the latest annual period.
- Diluted shares increased 6.7% in the latest annual period.
- EV/sales is 345% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 11, 2026
70.34Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“The 2031 Senior Notes are subject to affirmative and negative covenants, including financial covenants, with which we were in compliance as of September 30, 2025.”10-Q · Nov 6, 2025 ↗
“The change of $7.9 million was primarily due to a decrease in the credit loss reserve of $7.3 million in the nine months ended September 30, 2025 and a real estate impairment charge of $0.7 million on one property in our Real Estate Investments segment in the…”10-Q · Nov 6, 2025 ↗
“In addition, changes in federal and state legislation and regulation on climate change could result in increased capital expenditures to improve the energy efficiency of our existing properties and could also require us to spend more on our new development pr…”10-K · Feb 26, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 41.3× · EV/sales 41.1×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for NHI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for NHI. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind NHI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
NHI is currently a Participant in the organic co-movement group Healthcare REITs. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.