Omega Healthcare Investors, Inc. (OHI) to Issue Quarterly Dividend of $0.64
Omega Healthcare Investors, Inc. (NYSE:OHI) declared a quarterly dividend on Friday, July 14th, Wall Street Journal reports. Investors of record on Tuesday, August 1st will be given a dividend of 0.64 per share by the real estate investment trust on Tuesday, August 15th. This represents a $2.56 dividend on an annualized basis and a yield of 7.79%. The ex-dividend date is Friday, July 28th. This is a boost from Omega Healthcare Investors’s previous quarterly dividend of $0.63.
Omega Healthcare Investors has raised its dividend payment by an average of 8.3% per year over the last three years and has raised its dividend every year for the last 7 years. Omega Healthcare Investors has a payout ratio of 76.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Omega Healthcare Investors to earn $3.45 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 74.2%.
Omega Healthcare Investors (NYSE OHI) traded up 1.55% on Friday, reaching $33.37. The company had a trading volume of 1,705,584 shares. The stock has a 50 day moving average of $32.74 and a 200 day moving average of $32.40. The firm has a market capitalization of $6.57 billion, a PE ratio of 15.64 and a beta of 0.52. Omega Healthcare Investors has a 12 month low of $28.11 and a 12 month high of $38.09.
Omega Healthcare Investors (NYSE:OHI) last announced its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.02. Omega Healthcare Investors had a return on equity of 9.95% and a net margin of 45.16%. The firm had revenue of $231.74 million for the quarter, compared to analysts’ expectations of $197.55 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Omega Healthcare Investors’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts anticipate that Omega Healthcare Investors will post $1.99 EPS for the current year.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Omega Healthcare Investors from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Wednesday, April 19th. Vetr cut Omega Healthcare Investors from a “hold” rating to a “sell” rating and set a $32.50 price objective on the stock. in a research note on Monday, April 17th. BidaskClub upgraded Omega Healthcare Investors from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC restated a “hold” rating and set a $33.00 price objective on shares of Omega Healthcare Investors in a research note on Friday, May 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.67.
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In other Omega Healthcare Investors news, Director Craig R. Callen acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was acquired at an average cost of $31.40 per share, with a total value of $471,000.00. Following the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $565,200. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert O. Stephenson sold 23,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $34.58, for a total value of $795,340.00. Following the completion of the transaction, the chief financial officer now directly owns 68,978 shares of the company’s stock, valued at $2,385,259.24. The disclosure for this sale can be found here. 4.54% of the stock is currently owned by corporate insiders.
About Omega Healthcare Investors
Omega Healthcare Investors, Inc is a self-administered real estate investment trust (REIT). The Company maintains a portfolio of long-term healthcare facilities and mortgages on healthcare facilities located in 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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