Berenberg Bank initiated coverage on shares of Omega Healthcare Investors (NYSE:OHI) in a research report sent to investors on Thursday morning, The Fly reports. The firm issued a buy rating and a $47.00 target price on the real estate investment trust’s stock.
Several other equities research analysts have also commented on OHI. Zacks Investment Research lowered shares of Omega Healthcare Investors from a buy rating to a hold rating in a report on Wednesday, August 21st. Wells Fargo & Co boosted their price target on shares of Omega Healthcare Investors from $36.00 to $40.00 and gave the stock a market perform rating in a report on Friday, August 23rd. Finally, Raymond James boosted their price target on shares of Omega Healthcare Investors from $42.00 to $44.00 and gave the stock a strong-buy rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $40.04.
Shares of OHI traded down $0.64 during trading hours on Thursday, hitting $40.52. The stock had a trading volume of 1,371,961 shares, compared to its average volume of 1,689,256. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.78 and a current ratio of 2.78. The firm has a 50-day moving average price of $38.95 and a 200 day moving average price of $37.18. Omega Healthcare Investors has a fifty-two week low of $31.69 and a fifty-two week high of $41.67. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 5.33 and a beta of 0.37.
Omega Healthcare Investors (NYSE:OHI) last posted its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.39). Omega Healthcare Investors had a net margin of 29.38% and a return on equity of 6.79%. The firm had revenue of $191.81 million during the quarter, compared to analyst estimates of $190.46 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts predict that Omega Healthcare Investors will post 2.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Tuesday, July 30th. Omega Healthcare Investors’s payout ratio is 86.84%.
In other news, COO Daniel J. Booth sold 20,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $40.24, for a total transaction of $804,800.00. Following the completion of the sale, the chief operating officer now owns 178,241 shares of the company’s stock, valued at $7,172,417.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert O. Stephenson sold 10,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $38.00, for a total transaction of $380,000.00. Following the sale, the chief financial officer now directly owns 223,326 shares of the company’s stock, valued at approximately $8,486,388. The disclosure for this sale can be found here. Insiders have sold 118,500 shares of company stock valued at $4,586,300 in the last ninety days. Insiders own 1.16% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in OHI. Krane Funds Advisors LLC purchased a new stake in shares of Omega Healthcare Investors during the second quarter worth $25,000. Coastal Investment Advisors Inc. grew its holdings in shares of Omega Healthcare Investors by 148.4% during the second quarter. Coastal Investment Advisors Inc. now owns 683 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 408 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Omega Healthcare Investors during the second quarter worth $31,000. Phocas Financial Corp. purchased a new stake in shares of Omega Healthcare Investors during the second quarter worth $32,000. Finally, Kavar Capital Partners LLC purchased a new stake in shares of Omega Healthcare Investors during the second quarter worth $33,000. 69.94% of the stock is owned by institutional investors and hedge funds.
About Omega Healthcare Investors
Omega is a real estate investment trust 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 US, as well as in the UK.
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