Zacks Investment Research upgraded shares of Omega Healthcare Investors (NYSE:OHI) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has $42.00 price target on the real estate investment trust’s stock.
According to Zacks, “Omega Healthcare Investors, Inc. was incorporated in the State of Maryland. It is a self-administered real estate investment trust (REIT), investing in income producing healthcare facilities, principally long-term care facilities located in the United States (U.S.) and the United Kingdom (U.K.). The Company provide lease or mortgage financing to qualified operators of skilled nursing facilities (SNFs) and, to a lesser extent, assisted living facilities (ALFs), independent living facilities and rehabilitation and acute care facilities. It has historically financed investments through borrowings under its revolving credit facilities, private placements or public offerings of its debt and equity securities, the assumption of secured indebtedness, retention of cash flow, or a combination of these methods. “
Separately, ValuEngine cut Omega Healthcare Investors from a buy rating to a hold rating in a report on Wednesday, April 3rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $37.67.
Omega Healthcare Investors (NYSE:OHI) last released its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.37). The business had revenue of $188.20 million for the quarter, compared to analysts’ expectations of $190.54 million. Omega Healthcare Investors had a return on equity of 7.02% and a net margin of 30.17%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. On average, equities analysts expect that Omega Healthcare Investors will post 2.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date is Tuesday, July 30th. Omega Healthcare Investors’s dividend payout ratio is presently 86.84%.
In other news, CEO C Taylor Pickett sold 5,500 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.00, for a total transaction of $209,000.00. Following the completion of the transaction, the chief executive officer now directly owns 227,933 shares in the company, valued at approximately $8,661,454. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Robert O. Stephenson sold 10,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $38.00, for a total value of $380,000.00. Following the transaction, the chief financial officer now owns 223,326 shares of the company’s stock, valued at $8,486,388. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,500 shares of company stock valued at $3,239,000. Company insiders own 1.16% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Harvest Group Wealth Management LLC purchased a new position in Omega Healthcare Investors during the 1st quarter valued at about $114,000. State of Tennessee Treasury Department raised its position in Omega Healthcare Investors by 18.2% in the 1st quarter. State of Tennessee Treasury Department now owns 194,980 shares of the real estate investment trust’s stock valued at $7,438,000 after purchasing an additional 30,000 shares in the last quarter. Harvest Investment Services LLC acquired a new stake in Omega Healthcare Investors in the 1st quarter valued at about $253,000. Private Advisor Group LLC raised its position in Omega Healthcare Investors by 16.1% in the 1st quarter. Private Advisor Group LLC now owns 52,791 shares of the real estate investment trust’s stock valued at $1,994,000 after purchasing an additional 7,335 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Omega Healthcare Investors by 1.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 137,750 shares of the real estate investment trust’s stock valued at $5,251,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.
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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