National Health Investors Reports 33.8% Revenue Growth in Q2 2026

National Health Investors, Inc. (NHI) reported significant financial performance for the second quarter of 2026, with total revenues reaching $121.3 million, a 33.8% increase from $90.7 million in the same period last year. This growth was driven by a notable rise in rental income, which increased by 1.6% to $71.4 million, and a substantial increase in resident fees and services, which surged to $44.8 million from $14.2 million. The company’s net income attributable to common stockholders also saw a significant rise, reaching $55.6 million, up 50.5% from $36.9 million in the prior year.

In comparison to the previous fiscal period, NHI's financials showed marked improvements. For the first half of 2026, total revenues increased by 31.4% to $236.4 million, compared to $180.0 million in the first half of 2025. The company’s net income for the six months ended June 30, 2026, was $95.1 million, a 34.9% increase from $70.5 million in the same period last year. The increase in revenues was attributed to acquisitions and the performance of properties transitioned to the Senior Housing Operating Portfolio (SHOP) segment.

Strategically, NHI completed several acquisitions during the first half of 2026, totaling $229.9 million, which included properties from Allegro Living Management and Generations, LLC. The company also executed the sale of a portfolio of 35 properties leased to National HealthCare Corporation (NHC) for $560 million, which was finalized on July 1, 2026. This sale was part of a broader strategy to optimize its real estate investments and enhance liquidity.

Operationally, NHI's portfolio consisted of 152 properties across 29 states as of June 30, 2026, with a total gross carrying value of approximately $2.4 billion. The company reported an increase in its average occupancy rates, with the SHOP segment achieving an occupancy rate of 85.9%. The total number of units in the SHOP segment was 4,001, reflecting a robust demand for senior housing services. Additionally, NHI's employee headcount increased to support its expanding operations, although specific figures were not disclosed.

Looking ahead, NHI expressed optimism about its growth trajectory, citing the potential for further acquisitions and the ongoing demand for senior housing. The company plans to leverage its strong liquidity position, which includes $262 million available under its revolving credit facility and $30.4 million in unrestricted cash, to fund future investments and maintain its dividend policy. The board of directors declared a quarterly dividend of $0.94 per share, payable on November 6, 2026, indicating confidence in the company’s financial stability and commitment to returning value to shareholders.