National HealthCare Corp’s shares reached an all-time high of $232.78 on Tuesday, extending a 115% gain over the past 12 months. The Franklin, Tennessee-based company’s market capitalization stood at approximately $3.6 billion at the time of the milestone.
The rally follows a series of acquisitions that have expanded National HealthCare’s footprint in the senior housing and skilled nursing sectors. In late 2025, the company completed the purchase of 32 skilled nursing facilities and three independent living properties from National Health Investors, Inc. for $560 million. These assets had been under a Master Agreement to Lease since 1991, marking a transition from lease-based to ownership-based operations.
Additional expansion included the acquisition of five skilled nursing facilities for $50.5 million, located in Tennessee and South Carolina. The acquired properties comprise 566 operating beds and have been managed by National HealthCare subsidiaries since 1988. The company has not disclosed further terms of the transactions.
National HealthCare maintains a 12-year streak of dividend increases, reflecting its focus on shareholder returns amid operational growth. Analysts at InvestingPro have assigned the stock a "GREAT" financial health score, though they note it appears overvalued relative to its Fair Value estimate.
The stock was trading at $232.96 at midday Tuesday, continuing its upward trajectory from a 52-week range of $100.20 to $232.78.
