Welcome to our dedicated page for National Health Investors SEC filings (Ticker: NHI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
National Health Investors, Inc. (NHI) filings document the disclosures of a self-managed healthcare and senior housing REIT. Its regulatory record includes Form 8-K reports for investor presentations, supplemental financial information, material events, executive-transition governance matters and equity distribution agreements, along with registration materials tied to common stock offerings.
Proxy materials cover board matters, executive compensation and shareholder voting topics. NHI filings also describe its Real Estate Investments and SHOP segments, capital structure, NYSE-listed common stock, lease and interest-income exposures, development and construction risks, tenant, manager and borrower performance, environmental matters and other risk factors affecting senior housing and medical facility investments.
National Health Investors, Inc. (NHI) is a self-managed healthcare REIT focused on senior housing and medical facilities, operating through Real Estate Investments and a Senior Housing Operating Portfolio (SHOP). As of December 31, 2025, it controlled $2.7 billion of triple-net leased real estate and $634.3 million in SHOP properties.
For 2025, NHI generated $375.6 million in total revenues, up 12.1% year over year, including $271.6 million of rental income, $80.1 million of resident fees and services, and $24.0 million of interest and other income. Rental income contributed 72.3% of revenue, underscoring the importance of its triple-net lease model.
The company highlights key risks: dependence on tenant and manager performance, concentration of 36.9% of 2025 revenues in three tenants (Senior Living Communities, Bickford Senior Living and National HealthCare Corporation), exposure to Medicare and Medicaid reimbursement, inflation and interest rates, regulatory changes, pandemics, cybersecurity, and maintaining REIT status. NHI also outlines growth via acquisitions, development, and financing structures including mortgages, mezzanine and construction loans, all funded by operating cash flow, debt and equity.
National Health Investors, Inc. (NHI) is a self-managed healthcare REIT focused on senior housing and medical facilities, operating through Real Estate Investments and a Senior Housing Operating Portfolio (SHOP). As of December 31, 2025, it controlled $2.7 billion of triple-net leased real estate and $634.3 million in SHOP properties.
For 2025, NHI generated $375.6 million in total revenues, up 12.1% year over year, including $271.6 million of rental income, $80.1 million of resident fees and services, and $24.0 million of interest and other income. Rental income contributed 72.3% of revenue, underscoring the importance of its triple-net lease model.
The company highlights key risks: dependence on tenant and manager performance, concentration of 36.9% of 2025 revenues in three tenants (Senior Living Communities, Bickford Senior Living and National HealthCare Corporation), exposure to Medicare and Medicaid reimbursement, inflation and interest rates, regulatory changes, pandemics, cybersecurity, and maintaining REIT status. NHI also outlines growth via acquisitions, development, and financing structures including mortgages, mezzanine and construction loans, all funded by operating cash flow, debt and equity.
National Health Investors, Inc. (NHI) is a self-managed healthcare REIT focused on senior housing and medical facilities, operating through Real Estate Investments and a Senior Housing Operating Portfolio (SHOP). As of December 31, 2025, it controlled $2.7 billion of triple-net leased real estate and $634.3 million in SHOP properties.
For 2025, NHI generated $375.6 million in total revenues, up 12.1% year over year, including $271.6 million of rental income, $80.1 million of resident fees and services, and $24.0 million of interest and other income. Rental income contributed 72.3% of revenue, underscoring the importance of its triple-net lease model.
The company highlights key risks: dependence on tenant and manager performance, concentration of 36.9% of 2025 revenues in three tenants (Senior Living Communities, Bickford Senior Living and National HealthCare Corporation), exposure to Medicare and Medicaid reimbursement, inflation and interest rates, regulatory changes, pandemics, cybersecurity, and maintaining REIT status. NHI also outlines growth via acquisitions, development, and financing structures including mortgages, mezzanine and construction loans, all funded by operating cash flow, debt and equity.
National Health Investors Inc. SVP and Chief Accounting Officer David L. Travis reported multiple equity transactions on February 23, 2026. He exercised stock options for a total of 25,000 shares of common stock at a stated price of $57.76 per share. In a separate transaction coded “F,” 19,322 shares of common stock at $90.03 per share were disposed of to satisfy tax-withholding obligations related to the option exercises. After these transactions, he directly owned 37,800 shares of National Health Investors common stock.
National Health Investors Chief Investment Officer Kevin Carlton Pascoe exercised stock options for 8,500 shares of common stock at a price of $57.76 per share on February 23, 2026.
To cover the exercise price or related tax obligations, 6,409 shares of common stock were disposed of through a tax-withholding transaction, leaving him with 68,356 shares of common stock held directly.
National Health Investors CEO and President D. Eric Mendelsohn reported option exercises and related tax share dispositions. On February 23, 2026, he exercised 13,334 stock options, receiving 13,334 shares of common stock at an exercise price of $57.76 per share.
To cover tax obligations associated with these equity awards, 10,192 shares and an additional 194 restricted shares were automatically withheld and disposed of at $90.03 per share. After these transactions, he directly owned 118,398 shares of National Health Investors common stock.
National Health Investors CFO John L. Spaid exercised stock options for 8,500 shares of common stock on February 23, 2026. The options converted into common shares at a reported price of $57.7600 per share.
To cover taxes related to these equity events, Spaid disposed of 6,312 shares of common stock and an additional 236 restricted shares at a reported price of $90.0300 per share, described as tax-withholding dispositions. Following these transactions, he directly owned 50,633.6372 shares of National Health Investors common stock.
NATIONAL HEALTH INVESTORS INC director COLDEN TRACY M J reported exercising stock options for 10,000 shares of common stock on February 19, 2026. The options converted into common shares at a reported price of $73.34 per share. To cover taxes and related obligations, 8,267 shares were disposed of through a tax-withholding transaction at $88.72 per share. After these transactions, the director directly owned 11,590 shares of NHI common stock.
National Health Investors, Inc. expanded its Board of Directors and appointed Lilly H. Donohue as a director effective February 17, 2026, with an initial term ending at the 2026 annual meeting of stockholders. She brings senior housing operating and investment experience from leadership roles at Everstory Partners, Holiday Retirement, Fortress Investment Group and BlackRock.
On the same date, President and CEO D. Eric Mendelsohn resigned as a director and was immediately re-appointed to serve until the 2026 annual meeting. This sequencing is intended to align his directorship with the company’s newly declassified board structure so that, at the 2026 annual meeting, all nominees stand for election to one-year terms.
NATIONAL HEALTH INVESTORS CEO and President D. Eric Mendelsohn exercised a stock option for 25,000 Stock Option (Right to Buy) 2025 and received 25,000 shares of Common Stock at $73.34 per share. To cover tax obligations, 22,055 Common shares were disposed of through a tax-withholding transaction at $91.02 per share, leaving 115,450 Common shares held directly after these transactions.
NATIONAL HEALTH INVESTORS INC director James R. Jobe exercised stock options for 10,000 shares of common stock on February 17, 2026. The options, labeled “Stock Option (Right to Buy) 2025,” covered 10,000 shares at a reported exercise price of $0.0000 per option.
The exercise resulted in 10,000 shares of Common Stock - Jointly held with spouse at $73.34 per share, increasing this joint holding to 41,555 shares. To cover the exercise price or tax obligations, 8,058 jointly held shares were disposed of at $91.02 per share under a tax-withholding transaction, reducing the joint position to 33,497 shares. A separate Common Stock - IRA SEP account is reported with 500 shares following the transactions.
National Health Investors director exercises options and settles taxes in shares. Director Robert A. McCabe Jr. exercised stock options for 10,000 shares of common stock at an exercise price of $73.34 per share on February 12, 2026. To cover exercise price or tax obligations, 8,180 shares of common stock were disposed of in a tax-withholding transaction at $89.66 per share. After these transactions, he directly beneficially owned 42,000.96 shares of National Health Investors common stock, including 1,742.79 shares previously acquired in 2025 through a dividend reinvestment plan.