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

Omega Healthcare Investors, Inc. (NYSE:OHI)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $52.07 and last traded at $51.6190, with a volume of 2647268 shares traded. The stock had previously closed at $51.40.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OHI. Wells Fargo & Company boosted their price objective on shares of Omega Healthcare Investors from $47.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Royal Bank Of Canada raised their target price on shares of Omega Healthcare Investors from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Monday, May 4th. Raymond James Financial began coverage on shares of Omega Healthcare Investors in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $50.00 target price for the company. Bank of America reiterated an “underperform” rating and issued a $46.00 price target (down from $52.00) on shares of Omega Healthcare Investors in a report on Tuesday, April 14th. Finally, Citigroup reissued a “market perform” rating on shares of Omega Healthcare Investors in a research note on Monday, June 15th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.50.

Omega Healthcare Investors Stock Performance

The company has a market cap of $15.37 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 2.19 and a beta of 0.58. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average price is $47.61 and its 200 day moving average price is $46.55.

Omega Healthcare Investors (NYSE:OHI) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). Omega Healthcare Investors had a return on equity of 11.86% and a net margin of 51.14%.The company had revenue of $322.95 million during the quarter, compared to analyst estimates of $264.07 million. During the same period in the prior year, the business posted $0.75 earnings per share. Omega Healthcare Investors’s revenue was up 16.7% on a year-over-year basis. On average, analysts expect that Omega Healthcare Investors, Inc. will post 3.09 EPS for the current fiscal year.

Omega Healthcare Investors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.68 per share. This is an increase from Omega Healthcare Investors’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Monday, August 3rd. Omega Healthcare Investors’s payout ratio is 129.47%.

Institutional Trading of Omega Healthcare Investors

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in shares of Omega Healthcare Investors by 91.9% in the 4th quarter. BNP Paribas Financial Markets now owns 389,305 shares of the real estate investment trust’s stock worth $17,262,000 after buying an additional 186,399 shares during the period. CPC Advisors LLC purchased a new stake in Omega Healthcare Investors during the fourth quarter valued at about $3,050,000. Oxbow Advisors LLC purchased a new stake in Omega Healthcare Investors during the first quarter valued at about $7,373,000. BOKF NA increased its stake in Omega Healthcare Investors by 51.8% during the fourth quarter. BOKF NA now owns 189,095 shares of the real estate investment trust’s stock worth $8,384,000 after acquiring an additional 64,539 shares during the last quarter. Finally, Burney Co. increased its stake in Omega Healthcare Investors by 23.9% during the fourth quarter. Burney Co. now owns 313,680 shares of the real estate investment trust’s stock worth $13,909,000 after acquiring an additional 60,539 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Omega Healthcare Investors Company Profile

Omega Healthcare Investors, Inc is a real estate investment trust (REIT) that specializes in the ownership and management of healthcare-related facilities. The company’s core business involves acquiring and leasing long-term care properties, including skilled nursing facilities and assisted living communities, under net lease agreements. Its portfolio is designed to provide stable, inflation-protected cash flows from operators responsible for day-to-day property management.

Founded in 1992 and headquartered in Hunt Valley, Maryland, Omega Healthcare Investors has grown its holdings to encompass hundreds of facilities across the United States, with a smaller presence in select international markets.