Omega Healthcare Investors (NYSE:OHI) Sets New 1-Year High – Here’s Why

Omega Healthcare Investors, Inc. (NYSE:OHI)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $42.08 and last traded at $41.98, with a volume of 51735 shares changing hands. The stock had previously closed at $41.88.

Analyst Ratings Changes

OHI has been the topic of several analyst reports. BNP Paribas raised Omega Healthcare Investors from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a report on Thursday. Mizuho downgraded shares of Omega Healthcare Investors from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $34.00 to $35.00 in a research note on Thursday, July 25th. BMO Capital Markets boosted their target price on shares of Omega Healthcare Investors from $44.00 to $45.00 and gave the company a “market perform” rating in a research report on Monday, October 7th. Berenberg Bank started coverage on shares of Omega Healthcare Investors in a research report on Friday, October 18th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Wells Fargo & Company restated an “overweight” rating and set a $43.00 price objective (up from $40.00) on shares of Omega Healthcare Investors in a research report on Tuesday, October 1st. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.70.

Omega Healthcare Investors Trading Down 0.2 %

The stock has a market cap of $10.94 billion, a P/E ratio of 31.20, a PEG ratio of 1.37 and a beta of 1.00. The company has a quick ratio of 5.79, a current ratio of 5.79 and a debt-to-equity ratio of 1.19. The business’s 50 day simple moving average is $40.42 and its two-hundred day simple moving average is $35.89.

Omega Healthcare Investors (NYSE:OHI) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.20). The firm had revenue of $252.70 million during the quarter, compared to analyst estimates of $205.92 million. Omega Healthcare Investors had a return on equity of 9.19% and a net margin of 34.41%. Omega Healthcare Investors’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. As a group, analysts expect that Omega Healthcare Investors, Inc. will post 2.69 EPS for the current year.

Omega Healthcare Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend is Monday, November 4th. Omega Healthcare Investors’s dividend payout ratio is currently 197.06%.

Insider Activity at Omega Healthcare Investors

In other Omega Healthcare Investors news, CFO Robert O. Stephenson sold 22,542 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $40.19, for a total transaction of $905,962.98. Following the sale, the chief financial officer now directly owns 183,076 shares of the company’s stock, valued at $7,357,824.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Robert O. Stephenson sold 22,542 shares of Omega Healthcare Investors stock in a transaction on Friday, September 27th. The shares were sold at an average price of $40.19, for a total transaction of $905,962.98. Following the transaction, the chief financial officer now owns 183,076 shares in the company, valued at approximately $7,357,824.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Daniel J. Booth sold 56,725 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $40.25, for a total transaction of $2,283,181.25. Following the completion of the sale, the chief operating officer now directly owns 100,000 shares in the company, valued at approximately $4,025,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Omega Healthcare Investors

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in Omega Healthcare Investors by 93.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,803 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 2,324 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Omega Healthcare Investors by 2.6% in the first quarter. State of Michigan Retirement System now owns 60,263 shares of the real estate investment trust’s stock valued at $1,909,000 after buying an additional 1,500 shares during the period. State of Alaska Department of Revenue lifted its holdings in Omega Healthcare Investors by 0.6% in the first quarter. State of Alaska Department of Revenue now owns 143,338 shares of the real estate investment trust’s stock valued at $4,538,000 after buying an additional 893 shares during the period. Norden Group LLC bought a new stake in Omega Healthcare Investors during the first quarter valued at $2,145,000. Finally, Van ECK Associates Corp grew its holdings in Omega Healthcare Investors by 3.2% during the 1st quarter. Van ECK Associates Corp now owns 88,693 shares of the real estate investment trust’s stock worth $2,809,000 after acquiring an additional 2,775 shares during the period. 65.25% of the stock is currently owned by institutional investors.

About Omega Healthcare Investors

Omega is a REIT that invests in the long-term healthcare industry, primarily in skilled nursing and assisted living facilities. Its portfolio of assets is operated by a diverse group of healthcare companies, predominantly in a triple-net lease structure. The assets span all regions within the U.S., as well as in the U.K.