Omega Healthcare Investors Inc. (OHI) Downgraded by Zacks Investment Research
Omega Healthcare Investors Inc. (NYSE:OHI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “OMEGA HEALTHCARE INVESTORS is a self-administered real estate investment trust which invests in income- producing health care facilities, principally long-term care facilities, with the objective of profitable growth and further diversification of the investment portfolio. Investments are located primarily in the United States. “
OHI has been the subject of a number of other reports. Vetr upgraded shares of Omega Healthcare Investors from a “hold” rating to a “buy” rating and set a $35.84 target price for the company in a research note on Wednesday, July 27th. SunTrust Banks Inc. boosted their target price on shares of Omega Healthcare Investors from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. JMP Securities lowered shares of Omega Healthcare Investors from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 18th. They noted that the move was a valuation call. Thomas Weisel reiterated a “buy” rating and set a $35.85 target price on shares of Omega Healthcare Investors in a research note on Monday, August 1st. Finally, BTIG Research began coverage on shares of Omega Healthcare Investors in a research note on Thursday, August 25th. They set a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Omega Healthcare Investors currently has an average rating of “Buy” and an average target price of $36.96.
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Shares of Omega Healthcare Investors (NYSE:OHI) opened at 34.84 on Wednesday. The company’s 50-day moving average price is $36.17 and its 200 day moving average price is $34.31. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 21.87 and a beta of 0.75. Omega Healthcare Investors has a 1-year low of $26.96 and a 1-year high of $38.09.
Omega Healthcare Investors (NYSE:OHI) last announced its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The business earned $228.80 million during the quarter, compared to analyst estimates of $181.59 million. Omega Healthcare Investors had a net margin of 35.55% and a return on equity of 7.44%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. On average, analysts predict that Omega Healthcare Investors will post $3.39 earnings per share for the current fiscal year.
In related news, insider Steven J. Insoft sold 5,500 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $35.91, for a total value of $197,505.00. Following the completion of the transaction, the insider now owns 419,081 shares of the company’s stock, valued at approximately $15,049,198.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Daniel J. Booth sold 20,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $37.14, for a total transaction of $742,800.00. Following the completion of the transaction, the chief operating officer now directly owns 216,083 shares of the company’s stock, valued at approximately $8,025,322.62. The disclosure for this sale can be found here. 4.54% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Omega Healthcare Investors by 70.9% in the first quarter. JPMorgan Chase & Co. now owns 5,817,848 shares of the real estate investment trust’s stock valued at $205,368,000 after buying an additional 2,414,146 shares in the last quarter. Norges Bank bought a new position in Omega Healthcare Investors during the fourth quarter valued at approximately $48,703,000. Emerald Acquisition Ltd. bought a new position in Omega Healthcare Investors during the second quarter valued at approximately $33,526,000. Nuveen Asset Management LLC increased its position in Omega Healthcare Investors by 815.9% in the second quarter. Nuveen Asset Management LLC now owns 917,211 shares of the real estate investment trust’s stock valued at $31,139,000 after buying an additional 817,070 shares during the period. Finally, Shinko Asset Management Co. Ltd. increased its position in Omega Healthcare Investors by 16.5% in the second quarter. Shinko Asset Management Co. Ltd. now owns 4,636,639 shares of the real estate investment trust’s stock valued at $157,414,000 after buying an additional 657,676 shares during the period. 84.33% of the stock is owned by institutional investors.
About Omega Healthcare Investors
Omega Healthcare Investors, Inc (Omega) is a self-administered real estate investment trust (REIT). The Company invests in income producing healthcare facilities, long-term care facilities located throughout the United States and the United Kingdom. It operates through the segment, which consists of investments in healthcare-related real estate properties.
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