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

Key Points

• Omega Healthcare Investors reached a new 52-week high, trading as high as $52.07 and last changing hands near $51.62.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $48.50, below the stock’s current level.
• The REIT increased its quarterly dividend to $0.68 per share, equating to an annualized $2.72 payout and a 5.3% yield; its latest quarterly EPS of $0.47 missed estimates while revenue exceeded expectations.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays assumed coverage on Omega Healthcare Investors in a research note on Tuesday, July 7th. They set an "underweight" rating and a $51.00 price objective for the company. Truist Financial lowered their target price on Omega Healthcare Investors from $48.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, June 9th. Scotiabank dropped their target price on Omega Healthcare Investors from $50.00 to $47.00 and set a "sector perform" rating on the stock in a report on Thursday, June 18th. Raymond James Financial assumed coverage on Omega Healthcare Investors in a report on Tuesday, June 16th. They set an "outperform" rating and a $50.00 target price on the stock. Finally, Weiss Ratings upgraded Omega Healthcare Investors from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $48.50.

Omega Healthcare Investors Stock Up 0.4%

The company has a debt-to-equity ratio of 0.81, a current ratio of 5.32 and a quick ratio of 5.32. The business's 50 day moving average price is $47.61 and its 200 day moving average price is $46.55. The firm has a market cap of $15.37 billion, a PE ratio of 24.94, a PEG ratio of 2.19 and a beta of 0.58.

Omega Healthcare Investors (NYSE:OHI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). The firm had revenue of $322.95 million for the quarter, compared to analysts' expectations of $264.07 million. Omega Healthcare Investors had a return on equity of 11.86% and a net margin of 51.14%.The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, equities research analysts expect that Omega Healthcare Investors, Inc. will post 3.09 earnings per share for the current year.

Omega Healthcare Investors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.3%. This is a boost from Omega Healthcare Investors's previous quarterly dividend of $0.67. The ex-dividend date is Monday, August 3rd. Omega Healthcare Investors's dividend payout ratio (DPR) is currently 129.47%.

Institutional Investors Weigh In On Omega Healthcare Investors

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in 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 valued at $17,262,000 after buying an additional 186,399 shares in the last quarter. CPC Advisors LLC purchased a new position in Omega Healthcare Investors during the fourth quarter worth $3,050,000. Oxbow Advisors LLC purchased a new position in Omega Healthcare Investors during the first quarter worth $7,373,000. BOKF NA raised its holdings in shares of Omega Healthcare Investors by 51.8% in 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. raised its holdings in shares of Omega Healthcare Investors by 23.9% in 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. Hedge funds and other institutional investors own 65.25% of the company's stock.

About Omega Healthcare Investors

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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