TheStreet Lowers Omega Healthcare Investors Inc. (OHI) to Hold
Several other research firms have also recently weighed in on OHI. JMP Securities cut Omega Healthcare Investors from an outperform rating to a market perform rating in a research note on Thursday, August 18th. They noted that the move was a valuation call. BTIG Research began coverage on Omega Healthcare Investors in a research note on Thursday, August 25th. They set a neutral rating for the company. Zacks Investment Research upgraded Omega Healthcare Investors from a hold rating to a buy rating and set a $40.00 target price for the company in a research note on Tuesday, August 9th. SunTrust Banks Inc. upped their target price on Omega Healthcare Investors from $38.00 to $42.00 and gave the stock a buy rating in a research note on Thursday, August 4th. Finally, Thomas Weisel restated a buy rating and set a $35.85 target price on shares of Omega Healthcare Investors in a research note on Monday, August 1st. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Omega Healthcare Investors currently has a consensus rating of Buy and a consensus price target of $36.59.
Shares of Omega Healthcare Investors (NYSE:OHI) opened at 29.61 on Friday. Omega Healthcare Investors has a 52 week low of $26.96 and a 52 week high of $38.09. The firm has a market capitalization of $5.78 billion, a PE ratio of 18.84 and a beta of 0.59. The company’s 50 day moving average price is $30.70 and its 200-day moving average price is $33.50.
Omega Healthcare Investors (NYSE:OHI) last issued its quarterly earnings results on Monday, October 31st. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.04. The company had revenue of $224.60 million for the quarter, compared to analyst estimates of $186.35 million. Omega Healthcare Investors had a return on equity of 7.37% and a net margin of 34.53%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. On average, equities research analysts expect that Omega Healthcare Investors will post $3.38 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st were issued a dividend of $0.61 per share. This is an increase from Omega Healthcare Investors’s previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a yield of 8.24%. The ex-dividend date of this dividend was Thursday, October 27th. Omega Healthcare Investors’s dividend payout ratio (DPR) is presently 155.42%.
In other Omega Healthcare Investors news, insider Steven J. Insoft sold 5,500 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $35.91, for a total transaction of $197,505.00. Following the completion of the sale, the insider now directly owns 419,081 shares in the company, valued at approximately $15,049,198.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bernard J. Korman purchased 100,000 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were acquired at an average price of $29.29 per share, with a total value of $2,929,000.00. Following the completion of the acquisition, the director now owns 774,685 shares in the company, valued at approximately $22,690,523.65. The disclosure for this purchase can be found here. Company insiders own 4.54% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Gradient Investments LLC increased its stake in shares of Omega Healthcare Investors by 11.3% in the second quarter. Gradient Investments LLC now owns 127,104 shares of the real estate investment trust’s stock worth $4,315,000 after buying an additional 12,890 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Omega Healthcare Investors by 3.1% in the second quarter. Capstone Asset Management Co. now owns 14,803 shares of the real estate investment trust’s stock valued at $503,000 after buying an additional 450 shares in the last quarter. Naples Global Advisors LLC increased its stake in shares of Omega Healthcare Investors by 3.5% in the second quarter. Naples Global Advisors LLC now owns 11,845 shares of the real estate investment trust’s stock valued at $402,000 after buying an additional 400 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in shares of Omega Healthcare Investors by 2.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 52,620 shares of the real estate investment trust’s stock valued at $1,786,000 after buying an additional 1,275 shares in the last quarter. Finally, Creative Planning increased its stake in shares of Omega Healthcare Investors by 20.2% in the second quarter. Creative Planning now owns 21,012 shares of the real estate investment trust’s stock valued at $713,000 after buying an additional 3,534 shares in the last quarter. Hedge funds and other institutional investors own 82.81% of the company’s stock.
About Omega Healthcare Investors
Omega Healthcare Investors, Inc (Omega) is a self-administered real estate investment trust (REIT). The Company invests in income producing healthcare facilities, long-term care facilities located throughout the United States and the United Kingdom. It operates through the segment, which consists of investments in healthcare-related real estate properties.
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