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Tuesday, March 21, 2017

National Health Investors Buys 5 Memory Care Communities

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National Health Investors Inc. NHI announced the purchasing of five memory care facilities in Texas and Illinois for $61.8 million. The acquisition is likely to bolster the portfolio of this Murfreesboro, TN-based healthcare real estate investment trust (REIT).

These facilities, totaling 223 units will be leased back to The LaSalle Group, a new tenant of National Health Investors, for 15 years. The lease carries an initial cash yield of 7% and has three renewal options.  

National Health Investors is a real estate investment trust, which invests in income producing health care properties, primarily in the long-term care industry. The relationship with The LaSalle Group, the Dallas, TX-based family-owned business is likely to be accretive for the REIT going forward.

Currently, National Health Investors carries a Zacks Rank #3 (Hold).

Shares of National Health Investors underperformed the Zacks categorized REIT and Equity Trust - Other industry, over the past three months. During this time, shares of the company lost 2.3%, whereas the industry gained 1.8%.

Stocks to Consider

Investors interested in the REIT space, may consider stocks like Global Net Lease, Inc. GNL, CoreSite Realty Corporation COR and CorEnergy Infrastructure Trust, Inc. CORR. All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In the last 30 days, Global Net Lease’s FFO per share for first-quarter 2017 escalated 11.1% to 60 cents.

In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.

CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 6.5% to $1.14, in the last 30 days.

Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.

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National Health Investors, Inc. (NHI): Free Stock Analysis Report
 
CoreSite Realty Corporation (COR): Free Stock Analysis Report
 
CorEnergy Infrastructure Trust, Inc. (CORR): Free Stock Analysis Report
 
Global Net Lease, Inc. (GNL): Free Stock Analysis Report
 
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Zacks Investment Research

March 21, 2017 at 05:52PM

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from Zacks Equity Research

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