Zacks Investment Research upgraded shares of Omega Healthcare Investors (NYSE:OHI) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. The firm currently has $35.00 target price on the real estate investment trust’s stock.
According to Zacks, “Omega Healthcare Investors, Inc. was incorporated in the State of Maryland. It is a self-administered real estate investment trust (REIT), investing in income producing healthcare facilities, principally long-term care facilities located in the United States (U.S.) and the United Kingdom (U.K.). The Company provide lease or mortgage financing to qualified operators of skilled nursing facilities (SNFs) and, to a lesser extent, assisted living facilities (ALFs), independent living facilities and rehabilitation and acute care facilities. It has historically financed investments through borrowings under its revolving credit facilities, private placements or public offerings of its debt and equity securities, the assumption of secured indebtedness, retention of cash flow, or a combination of these methods. “
A number of other research firms have also recently commented on OHI. ValuEngine cut shares of Omega Healthcare Investors from a hold rating to a sell rating in a research note on Thursday, April 23rd. Wells Fargo & Co increased their price objective on shares of Omega Healthcare Investors from $28.00 to $33.00 and gave the company an equal weight rating in a report on Wednesday, June 17th. Capital One Financial raised shares of Omega Healthcare Investors from an equal weight rating to an overweight rating and set a $33.00 price objective for the company in a report on Tuesday, May 5th. Smith Barney Citigroup began coverage on shares of Omega Healthcare Investors in a report on Monday, July 13th. They set a neutral rating for the company. Finally, SunTrust Banks cut their price objective on shares of Omega Healthcare Investors from $36.00 to $32.00 and set a hold rating for the company in a report on Thursday, April 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Omega Healthcare Investors currently has an average rating of Hold and an average price target of $34.59.
NYSE OHI opened at $30.52 on Tuesday. Omega Healthcare Investors has a 12 month low of $13.33 and a 12 month high of $45.22. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 3.85 and a beta of 0.92. The company’s 50 day moving average is $31.20 and its two-hundred day moving average is $31.97. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 1.25.
Omega Healthcare Investors (NYSE:OHI) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.32). Omega Healthcare Investors had a return on equity of 9.22% and a net margin of 39.17%. Sell-side analysts forecast that Omega Healthcare Investors will post 3.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $2.68 annualized dividend and a yield of 8.78%. Omega Healthcare Investors’s dividend payout ratio is presently 87.30%.
In other news, CAO Michael Ritz sold 2,250 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $35.00, for a total value of $78,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Burke W. Whitman purchased 800 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was bought at an average cost of $31.73 per share, with a total value of $25,384.00. Following the completion of the acquisition, the director now owns 8,988 shares of the company’s stock, valued at $285,189.24. The disclosure for this purchase can be found here. Insiders own 1.16% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OHI. RPG Investment Advisory LLC raised its holdings in shares of Omega Healthcare Investors by 81.9% in the first quarter. RPG Investment Advisory LLC now owns 218,879 shares of the real estate investment trust’s stock worth $5,809,000 after acquiring an additional 98,562 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Omega Healthcare Investors in the first quarter valued at $61,000. Summit Place Financial Advisors LLC acquired a new position in Omega Healthcare Investors in the first quarter valued at $462,000. Fortem Financial Group LLC increased its stake in Omega Healthcare Investors by 31.4% in the first quarter. Fortem Financial Group LLC now owns 25,590 shares of the real estate investment trust’s stock valued at $679,000 after purchasing an additional 6,118 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Omega Healthcare Investors by 60.9% in the first quarter. Signaturefd LLC now owns 2,420 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 916 shares during the last quarter. 70.14% of the stock is owned by institutional investors.
About Omega Healthcare Investors
Omega is a real estate investment trust 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 US, as well as in the UK.
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