Wells Fargo & Company Reaffirms “Overweight” Rating for Omega Healthcare Investors (NYSE:OHI)

Wells Fargo & Company restated their overweight rating on shares of Omega Healthcare Investors (NYSE:OHI) in a research note released on Tuesday morning, Benzinga reports. They currently have a $43.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $40.00.

Other research analysts also recently issued research reports about the stock. Scotiabank upped their price objective on shares of Omega Healthcare Investors from $33.00 to $39.00 and gave the company a sector perform rating in a research note on Monday, August 26th. Truist Financial increased their price target on shares of Omega Healthcare Investors from $33.00 to $39.00 and gave the stock a hold rating in a research note on Wednesday, September 4th. Finally, 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 note on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $36.00.

Omega Healthcare Investors Stock Performance

Shares of OHI opened at $39.98 on Tuesday. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 1.30 and a beta of 1.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 5.79 and a current ratio of 5.79. Omega Healthcare Investors has a 1 year low of $27.53 and a 1 year high of $41.53. The company’s 50 day simple moving average is $39.04 and its 200 day simple moving average is $34.55.

Omega Healthcare Investors (NYSE:OHI) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.45 earnings per share 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 return on equity of 8.61% and a net margin of 33.52%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. On average, sell-side analysts predict that Omega Healthcare Investors will post 2.69 EPS for the current year.

Omega Healthcare Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend was Monday, August 5th. Omega Healthcare Investors’s dividend payout ratio is presently 241.44%.

Insider Activity at Omega Healthcare Investors

In related news, COO Daniel J. Booth sold 56,725 shares of the stock in a transaction on Friday, September 27th. The stock was 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 directly owns 100,000 shares in the company, valued at approximately $4,025,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Robert O. Stephenson sold 22,542 shares of Omega Healthcare Investors stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $40.19, for a total transaction of $905,962.98. Following the sale, the chief financial officer now owns 183,076 shares in the company, valued at $7,357,824.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $2,283,181.25. Following the completion of the transaction, the chief operating officer now owns 100,000 shares of the company’s stock, valued at $4,025,000. The disclosure for this sale can be found here. Company insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Omega Healthcare Investors

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Omega Healthcare Investors by 0.5% during the first quarter. Vanguard Group Inc. now owns 35,379,787 shares of the real estate investment trust’s stock valued at $1,120,478,000 after acquiring an additional 165,105 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Omega Healthcare Investors by 7.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,732,390 shares of the real estate investment trust’s stock valued at $127,831,000 after purchasing an additional 272,299 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Omega Healthcare Investors by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,240,025 shares of the real estate investment trust’s stock worth $110,971,000 after purchasing an additional 143,521 shares during the last quarter. LSV Asset Management raised its position in shares of Omega Healthcare Investors by 0.7% in the 2nd quarter. LSV Asset Management now owns 1,968,200 shares of the real estate investment trust’s stock valued at $67,411,000 after purchasing an additional 14,000 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Omega Healthcare Investors by 1,030.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 945,523 shares of the real estate investment trust’s stock valued at $32,384,000 after buying an additional 861,907 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

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.