Omega Healthcare Investors (NYSE:OHI) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Omega Healthcare Investors (NYSE:OHI) from an overweight rating to an equal weight rating in a report released on Thursday, MarketBeat.com reports. The brokerage currently has $45.00 price target on the real estate investment trust’s stock, down from their prior price target of $48.00.

A number of other research firms have also recently commented on OHI. Weiss Ratings raised shares of Omega Healthcare Investors from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, January 26th. Cantor Fitzgerald assumed coverage on shares of Omega Healthcare Investors in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $50.00 target price for the company. UBS Group upped their price objective on Omega Healthcare Investors from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Citigroup reissued a “buy” rating and set a $50.00 price objective (up from $45.00) on shares of Omega Healthcare Investors in a research report on Wednesday, November 12th. Finally, Truist Financial boosted their price target on Omega Healthcare Investors from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $46.82.

Omega Healthcare Investors Stock Up 1.0%

NYSE:OHI opened at $43.83 on Thursday. The stock’s fifty day moving average price is $44.58 and its two-hundred day moving average price is $42.47. Omega Healthcare Investors has a 52-week low of $35.04 and a 52-week high of $46.36. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 1.40 and a beta of 0.57. The company has a debt-to-equity ratio of 0.95, a quick ratio of 7.11 and a current ratio of 7.11.

Omega Healthcare Investors (NYSE:OHI) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Omega Healthcare Investors had a net margin of 46.83% and a return on equity of 10.72%. The firm had revenue of $311.59 million during the quarter, compared to the consensus estimate of $262.48 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 14.4% on a year-over-year basis. On average, analysts anticipate that Omega Healthcare Investors will post 2.86 EPS for the current year.

Omega Healthcare Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.1%. Omega Healthcare Investors’s dividend payout ratio is presently 149.72%.

Insiders Place Their Bets

In other news, CIO Vikas Gupta purchased 11,500 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was acquired at an average price of $42.97 per share, for a total transaction of $494,155.00. Following the acquisition, the executive directly owned 13,773 shares of the company’s stock, valued at approximately $591,825.81. This represents a 505.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO C Taylor Pickett acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average price of $43.14 per share, for a total transaction of $862,800.00. Following the acquisition, the chief executive officer directly owned 20,000 shares in the company, valued at approximately $862,800. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Omega Healthcare Investors

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Omega Healthcare Investors in the 2nd quarter worth about $121,800,000. Invesco Ltd. boosted its stake in Omega Healthcare Investors by 101.7% during the 3rd quarter. Invesco Ltd. now owns 4,944,921 shares of the real estate investment trust’s stock valued at $208,775,000 after purchasing an additional 2,493,877 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in Omega Healthcare Investors during the second quarter valued at about $71,312,000. JPMorgan Chase & Co. grew its holdings in shares of Omega Healthcare Investors by 77.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,417,240 shares of the real estate investment trust’s stock valued at $144,278,000 after acquiring an additional 1,496,059 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC increased its holdings in shares of Omega Healthcare Investors by 165.5% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 2,312,891 shares of the real estate investment trust’s stock valued at $84,767,000 after acquiring an additional 1,441,692 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

About Omega Healthcare Investors

Omega Healthcare Investors, Inc is a real estate investment trust (REIT) that specializes in the ownership and management of healthcare-related facilities. The company’s core business involves acquiring and leasing long-term care properties, including skilled nursing facilities and assisted living communities, under net lease agreements. Its portfolio is designed to provide stable, inflation-protected cash flows from operators responsible for day-to-day property management.

Founded in 1992 and headquartered in Hunt Valley, Maryland, Omega Healthcare Investors has grown its holdings to encompass hundreds of facilities across the United States, with a smaller presence in select international markets.