NHI Maintains Buy Rating as Capital Recycling Supports FAD Outlook and Valuation vs. Unchanged $90 Price Target
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National Health Investors (NHI) received a Buy rating from analyst Juan C. Sanabria of BMO Capital, maintaining a $90 price target. Despite a reduction in 2026 funds available for distribution due to a $580 million exit, NHI's normalized FAD of $1.29 exceeded estimates, indicating strong cash flows. The company is actively repositioning its portfolio and successfully recycling capital, with $212 million in closed transactions this year. Sanabria believes that if NHI executes its investment pipeline, it can restore FAD momentum, making the current valuation attractive.
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