Zacks Investment Research upgraded shares of Omega Healthcare Investors (NYSE:OHI) from a sell rating to a hold rating in a research report report published on Wednesday morning.
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. “
Several other equities analysts have also issued reports on the company. Mitsubishi UFJ Financial Group restated a neutral rating on shares of Omega Healthcare Investors in a research report on Tuesday, October 2nd. MED assumed coverage on Omega Healthcare Investors in a research report on Tuesday, October 2nd. They set a neutral rating and a $31.00 target price for the company. They noted that the move was a valuation call. ValuEngine upgraded Omega Healthcare Investors from a sell rating to a hold rating in a research report on Monday, August 13th. Stifel Nicolaus boosted their target price on Omega Healthcare Investors from $27.00 to $30.00 and gave the stock a hold rating in a research report on Tuesday, August 7th. Finally, Cantor Fitzgerald restated a buy rating and set a $34.00 target price on shares of Omega Healthcare Investors in a research report on Monday, August 6th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Omega Healthcare Investors has a consensus rating of Hold and an average target price of $30.00.
Omega Healthcare Investors (NYSE:OHI) last posted its earnings results on Friday, August 3rd. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The company had revenue of $192.85 million during the quarter, compared to analyst estimates of $200.30 million. Omega Healthcare Investors had a return on equity of 2.49% and a net margin of 10.61%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. Research analysts anticipate that Omega Healthcare Investors will post 2.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be given a $0.66 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $2.64 annualized dividend and a dividend yield of 7.90%. Omega Healthcare Investors’s dividend payout ratio is presently 80.00%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Securian Asset Management Inc grew its position in shares of Omega Healthcare Investors by 2.5% in the 3rd quarter. Securian Asset Management Inc now owns 67,722 shares of the real estate investment trust’s stock valued at $2,219,000 after purchasing an additional 1,647 shares during the period. Retirement Systems of Alabama grew its position in shares of Omega Healthcare Investors by 0.3% in the 3rd quarter. Retirement Systems of Alabama now owns 525,048 shares of the real estate investment trust’s stock valued at $17,206,000 after purchasing an additional 1,730 shares during the period. HGK Asset Management Inc. grew its position in shares of Omega Healthcare Investors by 14.8% in the 2nd quarter. HGK Asset Management Inc. now owns 16,077 shares of the real estate investment trust’s stock valued at $498,000 after purchasing an additional 2,072 shares during the period. OppenheimerFunds Inc. grew its position in shares of Omega Healthcare Investors by 3.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 62,745 shares of the real estate investment trust’s stock valued at $1,945,000 after purchasing an additional 2,084 shares during the period. Finally, D.A. Davidson & CO. grew its position in shares of Omega Healthcare Investors by 4.4% in the 2nd quarter. D.A. Davidson & CO. now owns 55,860 shares of the real estate investment trust’s stock valued at $1,732,000 after purchasing an additional 2,345 shares during the period. Institutional investors and hedge funds own 72.39% 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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