National Health Investors prices $350 million senior notes offering

MURFREESBORO, TN - National Health Investors, Inc. (NYSE:NHI), a healthcare real estate investment trust with a market capitalization of $3.7 billion and currently trading above its InvestingPro Fair Value, has priced an offering of $350 million aggregate principal amount of 5.350% Senior Notes due 2033, the company announced Monday.

The notes will be issued at 98.903% of par value with interest payable semi-annually beginning February 1, 2026. The offering is expected to close on September 26, 2025, subject to customary closing conditions.

NHI plans to use the net proceeds to reduce borrowings under its $700 million senior unsecured revolving credit facility, with remaining amounts allocated for working capital and general corporate purposes, including potential acquisitions and debt repayment.

J.P. Morgan, BofA Securities, Wells Fargo Securities, BMO Capital Markets, and KeyBanc Capital Markets are serving as joint book-running managers for the offering, with several other financial institutions acting as co-managers.

NHI has filed a registration statement with the Securities and Exchange Commission for the offering. The company specializes in sale-leasebacks, joint ventures, senior housing partnerships, and mortgage financing of senior housing and medical investments.

The REIT’s portfolio includes independent living, assisted living and memory care communities, entrance-fee retirement communities, skilled nursing facilities, and specialty hospitals.

The information is based on a press release statement from the company.

In other recent news, National Health Investors reported its second-quarter 2025 earnings, surpassing analysts’ expectations with an earnings per share of $0.79, compared to the forecasted $0.7526. The company also exceeded revenue forecasts, reporting $70.27 million against the expected $67.73 million. Following these results, Truist Securities raised its price target for National Health Investors from $77 to $81, maintaining a Buy rating on the stock. The positive earnings performance led the company to raise its guidance for the remainder of the year.

In other developments, National Health Investors issued a formal notice of default to NHC/OP, L.P., an affiliate of National HealthCare Corporation, for failing to comply with certain non-monetary provisions in their Master Lease agreement. The tenant, operating thirty-two skilled nursing facilities and three independent living facilities, was previously notified of the non-compliance and given until August 29 to address the issues. These recent developments highlight significant activities surrounding National Health Investors, including financial performance and operational challenges.

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