Omega Healthcare Investors, Inc. (OHI) to Issue Quarterly Dividend of $0.67 on May 15th

Omega Healthcare Investors, Inc. (NYSE:OHI) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.67 per share by the real estate investment trust on Wednesday, May 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 8.81%. The ex-dividend date is Monday, April 29th.

Omega Healthcare Investors has a dividend payout ratio of 183.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Omega Healthcare Investors to earn $2.77 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 96.8%.

Omega Healthcare Investors Trading Up 1.5 %

OHI stock opened at $30.43 on Friday. The firm has a fifty day moving average price of $31.02 and a 200 day moving average price of $31.21. Omega Healthcare Investors has a fifty-two week low of $26.00 and a fifty-two week high of $34.77. The firm has a market cap of $7.46 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 9.82 and a beta of 0.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 6.76 and a current ratio of 6.76.

Institutional Investors Weigh In On Omega Healthcare Investors

Large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its stake in shares of Omega Healthcare Investors by 7,010.8% during the first quarter. Federated Hermes Inc. now owns 2,482,964 shares of the real estate investment trust’s stock valued at $77,369,000 after acquiring an additional 2,448,046 shares in the last quarter. State Street Corp raised its position in Omega Healthcare Investors by 14.8% during the 1st quarter. State Street Corp now owns 13,300,467 shares of the real estate investment trust’s stock valued at $414,443,000 after purchasing an additional 1,715,004 shares in the last quarter. Norges Bank purchased a new stake in shares of Omega Healthcare Investors in the 4th quarter worth $36,626,000. Balyasny Asset Management L.P. bought a new position in shares of Omega Healthcare Investors during the 4th quarter worth $37,858,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Omega Healthcare Investors during the first quarter valued at $28,879,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OHI. Mizuho reduced their target price on shares of Omega Healthcare Investors from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, January 3rd. Citigroup raised Omega Healthcare Investors from a “neutral” rating to a “buy” rating and raised their price objective for the company from $32.00 to $35.00 in a research note on Friday, March 22nd. Wells Fargo & Company upgraded Omega Healthcare Investors from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $31.00 to $35.00 in a report on Monday, February 26th. Truist Financial raised their price target on Omega Healthcare Investors from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Finally, Bank of America cut shares of Omega Healthcare Investors from a “buy” rating to a “neutral” rating and cut their price objective for the company from $33.00 to $31.00 in a research report on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.58.

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.