Omega Healthcare Investors (NYSE:OHI) Releases Earnings Results, Beats Estimates By $0.35 EPS

Key Points

• Omega Healthcare Investors reported quarterly EPS of $0.82, beating the $0.47 consensus by $0.35. Revenue of $340.55 million also topped estimates of $269.16 million, though it declined 3% year over year.
• The company declared a quarterly dividend of $0.68 per share, equivalent to $2.72 annually and a 5.7% yield.
• Analyst sentiment is mixed: MarketBeat’s consensus rating is “Hold,” with a $49.93 average price target; shares traded at $47.60 after rising $0.60.

Omega Healthcare Investors (NYSE:OHI - Get Free Report) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.82 EPS for the quarter, beating the consensus estimate of $0.47 by $0.35, Zacks reports. The firm had revenue of $340.55 million during the quarter, compared to the consensus estimate of $269.16 million. Omega Healthcare Investors had a net margin of 66.96% and a return on equity of 15.76%. Omega Healthcare Investors's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS.

Omega Healthcare Investors Stock Performance

Omega Healthcare Investors stock traded up $0.60 during trading hours on Tuesday, reaching $47.60. 3,333,271 shares of the stock were exchanged, compared to its average volume of 2,072,478. The stock has a market cap of $14.42 billion, a P/E ratio of 17.00, a P/E/G ratio of 1.84 and a beta of 0.56. Omega Healthcare Investors has a 52-week low of $41.53 and a 52-week high of $52.39. The firm's 50 day moving average is $46.18 and its 200 day moving average is $46.63.

Omega Healthcare Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.68 per share. The ex-dividend date is Thursday, November 5th. This represents a $2.72 dividend on an annualized basis and a yield of 5.7%. Omega Healthcare Investors's dividend payout ratio is presently 97.14%.

Analyst Ratings Changes

A number of research firms have commented on OHI. UBS Group dropped their price objective on shares of Omega Healthcare Investors from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, October 13th. Weiss Ratings reiterated a "buy (b+)" rating on shares of Omega Healthcare Investors in a research note on Friday, September 25th. Citigroup raised Omega Healthcare Investors from a "buy" rating to an "outperform" rating in a report on Thursday, October 22nd. Wall Street Zen upgraded Omega Healthcare Investors from a "hold" rating to a "buy" rating in a research report on Saturday, October 17th. Finally, Wells Fargo & Company dropped their price target on Omega Healthcare Investors from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Monday, October 19th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $49.93.

Omega Healthcare Investors Company Profile

Omega Healthcare Investors, Inc is a real estate investment trust focused on the healthcare sector. The company invests in and owns healthcare facilities, with a primary emphasis on skilled nursing and assisted living properties.

Omega generally leases its properties to healthcare operators under long-term agreements, supporting services for seniors and individuals who require post-acute, rehabilitative, or long-term care. Its portfolio has also included other healthcare-related properties, such as continuing care retirement communities and specialty facilities.

Founded in 1992 and headquartered in Hunt Valley, Maryland, Omega serves healthcare operators across the United States and the United Kingdom.