Cornerstone Enterprises LLC Grows Stock Position in Omega Healthcare Investors, Inc. $OHI

Key Points

• Cornerstone Enterprises LLC boosted its stake in Omega Healthcare Investors by 26.6% in Q4 to 246,589 shares (an additional 51,806), making it the fund's 8th largest holding worth about $10.93 million and representing 0.08% of OHI.
• Omega announced a quarterly dividend of $0.67 (annualized $2.68) implying a 5.8% yield; the ex-dividend and record date are listed as Monday, May 4 and the dividend will be paid on Friday, May 15, with a payout ratio of 138.86%.
• Analysts' consensus is a Hold with an average price target of $47.83; OHI trades near $46.36 (1-year range $35.08–$49.14) and has a market capitalization of about $13.81 billion.

Cornerstone Enterprises LLC raised its stake in Omega Healthcare Investors, Inc. (NYSE:OHI - Free Report) by 26.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 246,589 shares of the real estate investment trust's stock after buying an additional 51,806 shares during the period. Omega Healthcare Investors comprises about 5.2% of Cornerstone Enterprises LLC's portfolio, making the stock its 8th biggest position. Cornerstone Enterprises LLC owned 0.08% of Omega Healthcare Investors worth $10,934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GeoWealth Management LLC lifted its stake in shares of Omega Healthcare Investors by 1.3% in the 3rd quarter. GeoWealth Management LLC now owns 18,850 shares of the real estate investment trust's stock valued at $796,000 after purchasing an additional 239 shares during the period. Checchi Capital Advisers LLC lifted its stake in shares of Omega Healthcare Investors by 3.3% in the 4th quarter. Checchi Capital Advisers LLC now owns 8,184 shares of the real estate investment trust's stock valued at $363,000 after purchasing an additional 262 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Omega Healthcare Investors by 40.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 924 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 268 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Omega Healthcare Investors by 2.1% in the 4th quarter. DAVENPORT & Co LLC now owns 13,035 shares of the real estate investment trust's stock valued at $578,000 after purchasing an additional 272 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in shares of Omega Healthcare Investors by 1.0% in the 2nd quarter. Guggenheim Capital LLC now owns 29,398 shares of the real estate investment trust's stock valued at $1,077,000 after purchasing an additional 280 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on OHI shares. Royal Bank Of Canada boosted their price objective on Omega Healthcare Investors from $44.00 to $47.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 10th. Scotiabank boosted their price objective on Omega Healthcare Investors from $45.00 to $48.00 and gave the company a "sector perform" rating in a research note on Monday, March 2nd. Wells Fargo & Company boosted their price objective on Omega Healthcare Investors from $45.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, March 26th. Cantor Fitzgerald boosted their price objective on Omega Healthcare Investors from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Tuesday, February 10th. Finally, BMO Capital Markets downgraded Omega Healthcare Investors from an "outperform" rating to a "market perform" rating and set a $45.00 price objective on the stock. in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Omega Healthcare Investors currently has an average rating of "Hold" and a consensus price target of $47.83.

Omega Healthcare Investors Stock Performance

Shares of Omega Healthcare Investors stock opened at $46.36 on Friday. Omega Healthcare Investors, Inc. has a one year low of $35.08 and a one year high of $49.14. The firm has a market capitalization of $13.81 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 2.00 and a beta of 0.59. The business has a 50-day simple moving average of $46.41 and a 200 day simple moving average of $44.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.04 and a quick ratio of 5.04.

Omega Healthcare Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Monday, May 4th. Omega Healthcare Investors's payout ratio is presently 138.86%.

Omega Healthcare Investors 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.

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