First Midwest Bank Trust Division decreased its position in Omega Healthcare Investors Inc (NYSE:OHI) by 5.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,940 shares of the real estate investment trust’s stock after selling 615 shares during the period. First Midwest Bank Trust Division’s holdings in Omega Healthcare Investors were worth $402,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Massey Quick Simon & CO. LLC purchased a new stake in Omega Healthcare Investors during the first quarter worth $38,000. Spirit of America Management Corp NY purchased a new stake in Omega Healthcare Investors during the first quarter worth $38,000. Reilly Financial Advisors LLC lifted its holdings in Omega Healthcare Investors by 68.1% during the first quarter. Reilly Financial Advisors LLC now owns 992 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 402 shares during the period. Washington Trust Bank lifted its holdings in Omega Healthcare Investors by 684.9% during the first quarter. Washington Trust Bank now owns 1,146 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,000 shares during the period. Finally, Avestar Capital LLC lifted its holdings in Omega Healthcare Investors by 63.2% during the first quarter. Avestar Capital LLC now owns 1,286 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 498 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.
Separately, Zacks Investment Research upgraded Omega Healthcare Investors from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Wednesday. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.67.
Omega Healthcare Investors (NYSE:OHI) last announced its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.37). Omega Healthcare Investors had a return on equity of 7.02% and a net margin of 30.17%. The company had revenue of $188.20 million for the quarter, compared to analyst estimates of $190.54 million. During the same period in the prior year, the business posted $0.78 earnings per share. Omega Healthcare Investors’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Omega Healthcare Investors Inc will post 2.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date is Tuesday, July 30th. Omega Healthcare Investors’s dividend payout ratio (DPR) is 86.84%.
In other news, CEO C Taylor Pickett sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $38.00, for a total transaction of $1,140,000.00. Following the completion of the sale, the chief executive officer now owns 299,133 shares in the company, valued at approximately $11,367,054. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert O. Stephenson sold 10,000 shares of the firm’s stock in a transaction that occurred 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 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 sold a total of 85,500 shares of company stock worth $3,239,000 over the last three months. Corporate insiders own 1.16% of the company’s stock.
Omega Healthcare Investors Profile
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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