Omega Healthcare Investors (NYSE:OHI) Reaches New 52-Week High on Analyst Upgrade

Omega Healthcare Investors, Inc. (NYSE:OHI) shares reached a new 52-week high during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $33.00 to $39.00. Truist Financial currently has a hold rating on the stock. Omega Healthcare Investors traded as high as $39.80 and last traded at $39.68, with a volume of 40008 shares trading hands. The stock had previously closed at $39.47.

OHI has been the subject of several other reports. Mizuho downgraded shares of Omega Healthcare Investors from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $34.00 to $35.00 in a research report on Thursday, July 25th. Wells Fargo & Company raised shares of Omega Healthcare Investors to a “strong-buy” rating in a research report on Friday, June 14th. Finally, Scotiabank boosted their price target on Omega Healthcare Investors from $33.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Omega Healthcare Investors has an average rating of “Hold” and an average target price of $34.67.

Institutional Trading of Omega Healthcare Investors

Several hedge funds have recently added to or reduced their stakes in OHI. NCP Inc. lifted its holdings in shares of Omega Healthcare Investors by 10.3% during the second quarter. NCP Inc. now owns 3,310 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 310 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Omega Healthcare Investors by 297.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 37,516 shares of the real estate investment trust’s stock worth $1,285,000 after purchasing an additional 28,075 shares in the last quarter. Regal Investment Advisors LLC increased its position in shares of Omega Healthcare Investors by 10.6% during the second quarter. Regal Investment Advisors LLC now owns 7,037 shares of the real estate investment trust’s stock valued at $241,000 after purchasing an additional 677 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Omega Healthcare Investors by 77.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,181 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 1,386 shares during the period. Finally, Creative Planning lifted its position in Omega Healthcare Investors by 5.5% in the second quarter. Creative Planning now owns 40,531 shares of the real estate investment trust’s stock worth $1,388,000 after purchasing an additional 2,104 shares during the period. Institutional investors own 65.25% of the company’s stock.

Omega Healthcare Investors Price Performance

The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 36.03, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 5.79 and a quick ratio of 5.79. The stock’s 50 day simple moving average is $36.79 and its two-hundred day simple moving average is $33.24.

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 for the quarter, missing the consensus estimate of $0.65 by ($0.20). Omega Healthcare Investors had a net margin of 33.52% and a return on equity of 8.61%. The business had revenue of $252.70 million for the quarter, compared to analyst estimates of $205.92 million. During the same quarter last year, the firm posted $0.74 earnings per share. Omega Healthcare Investors’s revenue was up 17.5% on a year-over-year basis. On average, analysts forecast that Omega Healthcare Investors, Inc. will post 2.81 earnings per share for the current fiscal year.

Omega Healthcare Investors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.68 annualized dividend and a dividend yield of 6.70%. Omega Healthcare Investors’s dividend payout ratio (DPR) is presently 241.44%.

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.