Omega Healthcare Investors, Inc. Announces Quarterly Dividend of $0.67 (NYSE:OHI)

Omega Healthcare Investors, Inc. (NYSE:OHI) declared a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Shareholders of record on Monday, November 4th will be given a dividend of 0.67 per share by the real estate investment trust on Friday, November 15th. This represents a $2.68 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend is Monday, November 4th.

Omega Healthcare Investors has a payout ratio of 177.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Omega Healthcare Investors to earn $2.82 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 95.0%.

Omega Healthcare Investors Stock Down 3.0 %

Shares of NYSE:OHI opened at $41.20 on Friday. The company’s fifty day moving average is $40.47 and its 200-day moving average is $36.00. The company has a debt-to-equity ratio of 1.10, a quick ratio of 5.79 and a current ratio of 6.48. Omega Healthcare Investors has a 52 week low of $27.53 and a 52 week high of $44.42. The company has a market capitalization of $10.62 billion, a PE ratio of 30.29, a P/E/G ratio of 1.37 and a beta of 0.99.

Omega Healthcare Investors (NYSE:OHI) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.20). Omega Healthcare Investors had a net margin of 34.41% and a return on equity of 8.83%. The business had revenue of $252.70 million during the quarter, compared to the consensus estimate of $205.92 million. During the same quarter in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities research analysts predict that Omega Healthcare Investors will post 2.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on OHI. Mizuho lowered shares of Omega Healthcare Investors from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $34.00 to $35.00 in a report on Thursday, July 25th. Berenberg Bank assumed coverage on shares of Omega Healthcare Investors in a research report on Friday, October 18th. They issued a “buy” rating and a $45.00 price objective for the company. Truist Financial increased their price objective on Omega Healthcare Investors from $33.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, September 4th. Wells Fargo & Company restated an “overweight” rating and set a $43.00 target price (up previously from $40.00) on shares of Omega Healthcare Investors in a research report on Tuesday, October 1st. Finally, Scotiabank raised their price target on Omega Healthcare Investors from $33.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.70.

Insider Activity at Omega Healthcare Investors

In related news, COO Daniel J. Booth sold 56,725 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $40.25, for a total value of $2,283,181.25. Following the completion of the sale, the chief operating officer now owns 100,000 shares in the company, valued at $4,025,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Daniel J. Booth sold 56,725 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $40.25, for a total value of $2,283,181.25. Following the sale, the chief operating officer now directly owns 100,000 shares of the company’s stock, valued at approximately $4,025,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert O. Stephenson sold 22,542 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $40.19, for a total value of $905,962.98. Following the transaction, the chief financial officer now owns 183,076 shares of the company’s stock, valued at approximately $7,357,824.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.37% of the stock is currently owned by corporate insiders.

Omega Healthcare Investors Company Profile

Omega is a REIT 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 U.S., as well as in the U.K.