Omega Healthcare Investors (NYSE:OHI) Earns Buy Rating from Bank of America

Bank of America reissued their buy rating on shares of Omega Healthcare Investors (NYSE:OHI) in a research report sent to investors on Monday, BenzingaRatingsTable reports. Bank of America currently has a $44.50 price objective on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on OHI. Wells Fargo & Co raised their price objective on shares of Omega Healthcare Investors from $36.00 to $40.00 and gave the stock a market perform rating in a research report on Friday, August 23rd. Berenberg Bank assumed coverage on shares of Omega Healthcare Investors in a research report on Thursday, September 12th. They set a buy rating and a $47.00 price objective for the company. Raymond James raised their price objective on shares of Omega Healthcare Investors from $42.00 to $44.00 and gave the stock a strong-buy rating in a research report on Thursday, September 12th. Finally, Zacks Investment Research downgraded shares of Omega Healthcare Investors from a buy rating to a hold rating in a research report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Omega Healthcare Investors currently has an average rating of Buy and a consensus price target of $41.10.

Shares of OHI stock opened at $43.29 on Monday. The firm has a 50 day moving average price of $41.51 and a two-hundred day moving average price of $38.12. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $9.39 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 5.71 and a beta of 0.34. Omega Healthcare Investors has a 12-month low of $32.14 and a 12-month high of $43.63.

Omega Healthcare Investors (NYSE:OHI) last issued its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.39). The company had revenue of $191.81 million for the quarter, compared to analyst estimates of $190.46 million. Omega Healthcare Investors had a return on equity of 6.79% and a net margin of 29.38%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share. As a group, research analysts expect that Omega Healthcare Investors will post 2.95 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.67 per share. The ex-dividend date is Wednesday, October 30th. This is a boost from Omega Healthcare Investors’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 6.19%. Omega Healthcare Investors’s dividend payout ratio (DPR) is currently 86.84%.

In other news, CFO Robert O. Stephenson sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $39.00, for a total transaction of $390,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Ritz sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $40.50, for a total transaction of $202,500.00. Following the transaction, the insider now directly owns 10,485 shares in the company, valued at $424,642.50. The disclosure for this sale can be found here. Insiders have sold 45,500 shares of company stock worth $1,822,300 over the last ninety days. Insiders own 1.16% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in OHI. Brookfield Asset Management Inc. bought a new position in shares of Omega Healthcare Investors during the second quarter worth approximately $76,780,000. Nuveen Asset Management LLC increased its stake in Omega Healthcare Investors by 225.1% in the second quarter. Nuveen Asset Management LLC now owns 2,751,329 shares of the real estate investment trust’s stock valued at $101,111,000 after acquiring an additional 1,904,949 shares during the last quarter. Vanguard Group Inc. increased its stake in Omega Healthcare Investors by 5.6% in the second quarter. Vanguard Group Inc. now owns 31,995,715 shares of the real estate investment trust’s stock valued at $1,175,842,000 after acquiring an additional 1,686,492 shares during the last quarter. Long Pond Capital LP bought a new position in Omega Healthcare Investors in the second quarter valued at approximately $48,153,000. Finally, BlackRock Inc. increased its stake in Omega Healthcare Investors by 2.5% in the second quarter. BlackRock Inc. now owns 24,907,576 shares of the real estate investment trust’s stock valued at $915,351,000 after acquiring an additional 600,319 shares during the last quarter. 69.28% of the stock is currently owned by institutional investors.

Omega Healthcare Investors Company Profile

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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Analyst Recommendations for Omega Healthcare Investors (NYSE:OHI)

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