Omega Healthcare Investors, Inc. (NYSE:OHI) Declares $0.67 Quarterly Dividend

Omega Healthcare Investors, Inc. (NYSE:OHI - Get Free Report) declared a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Tuesday, April 30th will be paid 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 yield of 8.81%. The ex-dividend date is Monday, April 29th.

Omega Healthcare Investors has a payout ratio of 183.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Up 1.5 %

Shares of OHI stock traded up $0.45 during mid-day trading on Friday, reaching $30.43. 1,141,395 shares of the company's stock traded hands, compared to its average volume of 1,754,356. Omega Healthcare Investors has a 12 month low of $26.00 and a 12 month high of $34.77. The company has a market cap of $7.46 billion, a P/E ratio of 30.74, a P/E/G ratio of 9.81 and a beta of 0.91. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 1.35. The company's 50-day moving average price is $31.02 and its 200-day moving average price is $31.21.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OHI shares. Mizuho dropped 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 upgraded shares of Omega Healthcare Investors from a "neutral" rating to a "buy" rating and upped their price target for the stock from $32.00 to $35.00 in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Omega Healthcare Investors in a research note on Tuesday, January 30th. They issued a "buy" rating and a $36.00 price target on the stock. BNP Paribas upgraded shares of Omega Healthcare Investors from an "underperform" rating to a "neutral" rating and set a $30.00 price target on the stock in a research note on Thursday, February 8th. Finally, Wells Fargo & Company upgraded shares of Omega Healthcare Investors from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $31.00 to $35.00 in a research note on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Omega Healthcare Investors currently has a consensus rating of "Hold" and an average target price of $33.58.

Hedge Funds Weigh In On Omega Healthcare Investors

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in shares of Omega Healthcare Investors by 2.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 305,754 shares of the real estate investment trust's stock valued at $9,374,000 after purchasing an additional 8,150 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Omega Healthcare Investors by 14.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 129,700 shares of the real estate investment trust's stock valued at $3,977,000 after purchasing an additional 16,413 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Omega Healthcare Investors by 34.6% during the 4th quarter. Harbour Investments Inc. now owns 6,539 shares of the real estate investment trust's stock valued at $200,000 after purchasing an additional 1,681 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Omega Healthcare Investors by 0.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 465,866 shares of the real estate investment trust's stock valued at $14,283,000 after purchasing an additional 4,004 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Omega Healthcare Investors by 3.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 60,599 shares of the real estate investment trust's stock valued at $1,858,000 after purchasing an additional 2,194 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

Omega Healthcare Investors Company Profile

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.