Scotiabank Raises Omega Healthcare Investors (NYSE:OHI) Price Target to $39.00

Omega Healthcare Investors (NYSE:OHI) had its price target increased by Scotiabank from $33.00 to $39.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on OHI. Truist Financial lifted their target price on Omega Healthcare Investors from $32.00 to $33.00 and gave the stock a hold rating in a report on Wednesday, June 26th. Mizuho cut shares of Omega Healthcare Investors from an outperform rating to a neutral rating and boosted their price objective for the company from $34.00 to $35.00 in a research report on Thursday, July 25th. JMP Securities restated a market perform rating on shares of Omega Healthcare Investors in a report on Monday, May 6th. Finally, Wells Fargo & Company upgraded shares of Omega Healthcare Investors to a strong-buy rating in a report on Friday, June 14th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $34.17.

Omega Healthcare Investors Stock Up 0.2 %

Shares of OHI opened at $39.36 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 5.79 and a quick ratio of 5.79. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. Omega Healthcare Investors has a 1 year low of $27.53 and a 1 year high of $39.62. The business’s 50 day simple moving average is $36.03 and its 200-day simple moving average is $32.89.

Omega Healthcare Investors (NYSE:OHI) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.20). The business had revenue of $252.70 million for the quarter, compared to analysts’ expectations of $205.92 million. Omega Healthcare Investors had a net margin of 33.52% and a return on equity of 8.61%. Omega Healthcare Investors’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. As a group, equities analysts expect that Omega Healthcare Investors will post 2.81 earnings per share for the current fiscal year.

Omega Healthcare Investors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.81%. The ex-dividend date of this dividend was Monday, August 5th. Omega Healthcare Investors’s dividend payout ratio is presently 241.44%.

Institutional Investors Weigh In On Omega Healthcare Investors

Several hedge funds have recently made changes to their positions in OHI. Cutter & CO Brokerage Inc. lifted its stake in Omega Healthcare Investors by 3.7% in the second quarter. Cutter & CO Brokerage Inc. now owns 8,206 shares of the real estate investment trust’s stock worth $281,000 after acquiring an additional 290 shares during the period. Left Brain Wealth Management LLC lifted its position in shares of Omega Healthcare Investors by 2.0% in the 4th quarter. Left Brain Wealth Management LLC now owns 17,365 shares of the real estate investment trust’s stock worth $532,000 after purchasing an additional 335 shares during the period. Pasadena Private Wealth LLC boosted its stake in shares of Omega Healthcare Investors by 2.9% during the second quarter. Pasadena Private Wealth LLC now owns 12,049 shares of the real estate investment trust’s stock valued at $413,000 after purchasing an additional 335 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Omega Healthcare Investors by 4.7% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,574 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 342 shares during the period. Finally, Tidal Investments LLC raised its stake in Omega Healthcare Investors by 2.5% in the first quarter. Tidal Investments LLC now owns 14,325 shares of the real estate investment trust’s stock worth $454,000 after buying an additional 348 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

About Omega Healthcare Investors

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.