National HealthCare(NYSEMKT) NHC

National HealthCare Corporation (NYSE American:NHC) helps seniors get medical care. The company makes living in nursing centers easier. It also supports patients through homecare and hospice services.

A Diverse Range of Care

• Inpatient Services: Operation of skilled nursing facilities, assisted living, and independent living communities; includes specialized care for Alzheimer's disease and behavioral health hospitals.
• Homecare and Hospice: Clinical medical services and support provided to patients in their homes; consists of 34 homecare agencies and 33 hospice agencies as of June 30, 2026.
• Management and Insurance: Provision of accounting, financial, and insurance solutions for healthcare centers; includes rental income from leasing properties to third-party operators.

Strategic Property Growth

• Purchased five skilled nursing facilities on June 1, 2026, for $50,500,000.
• Acquired 32 skilled nursing and three independent living facilities on July 1, 2026, for $560,000,000.
• Purchased land in Mount Juliet, Tennessee, for $2,500,000 during the first half of 2026.
• Invested $6,984,000 in two joint venture multi-family housing developments during the six months ended June 30, 2026.

Setting the Standard for Quality

National HealthCare maintains a higher concentration of top-rated facilities than the industry average, with 61% of its centers earning four or five stars. The company manages its own insurance risks for professional liability and workers' compensation through dedicated internal reserves.

Financial Performance and Liquidity

• Net operating revenues were $408,025,000 for the quarter ended June 30, 2026, up 8.8% year over year.
• Adjusted net income rose to $57,640,000 for the six months ended June 30, 2026, up 14.0% year over year.
• Market capitalization reached $3.3 billion in Q2 2026, up 99.5% year over year.
• Cash, cash equivalents, and restricted cash totaled $52,278,000 as of June 30, 2026.
• Overall occupancy at owned and leased skilled nursing facilities was 90.1% for the three months ended June 30, 2026.

Bottom Line

National HealthCare has evolved from a regional facility operator into a major owner of senior housing real estate. Its transition toward purchasing leased properties and expanding into multi-family housing indicates a strategic focus on building a permanent healthcare infrastructure.