Omega Healthcare Investors (NYSE:OHI) Coverage Initiated by Analysts at Smith Barney Citigroup

Equities research analysts at Smith Barney Citigroup assumed coverage on shares of Omega Healthcare Investors (NYSE:OHI) in a note issued to investors on Monday, The Fly reports. The firm set a “neutral” rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on OHI. Capital One Financial raised shares of Omega Healthcare Investors from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a report on Tuesday, May 5th. Bank of America cut shares of Omega Healthcare Investors from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $25.00 to $23.00 in a report on Friday, April 24th. JMP Securities assumed coverage on shares of Omega Healthcare Investors in a report on Monday, June 8th. They set a “market perform” rating for the company. ValuEngine cut shares of Omega Healthcare Investors from a “hold” rating to a “sell” rating in a report on Thursday, April 23rd. Finally, Raymond James raised shares of Omega Healthcare Investors from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $32.00 to $34.00 in a report on Friday, May 15th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $35.23.

Shares of NYSE OHI traded down $0.46 during midday trading on Monday, hitting $30.11. The stock had a trading volume of 28,870 shares, compared to its average volume of 2,939,898. The business’s 50 day moving average is $30.68 and its 200-day moving average is $34.23. The company has a market cap of $6.94 billion, a P/E ratio of 18.46, a PEG ratio of 5.63 and a beta of 0.90. Omega Healthcare Investors has a 52 week low of $13.33 and a 52 week high of $45.22. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 1.31.

Omega Healthcare Investors (NYSE:OHI) last issued its earnings results on Monday, May 4th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). Omega Healthcare Investors had a return on equity of 8.66% and a net margin of 37.71%. The firm had revenue of $253.00 million during the quarter, compared to the consensus estimate of $217.97 million. During the same quarter in the prior year, the company posted $0.76 EPS. The company’s quarterly revenue was up 34.6% on a year-over-year basis. As a group, analysts expect that Omega Healthcare Investors will post 3.05 EPS for the current fiscal year.

In related news, Director Burke W. Whitman bought 800 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $31.73 per share, for a total transaction of $25,384.00. Following the completion of the transaction, the director now owns 8,988 shares in the company, valued at $285,189.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael Ritz sold 2,250 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $35.00, for a total transaction of $78,750.00. The disclosure for this sale can be found here. Corporate insiders own 1.16% of the company’s stock.

Several large investors have recently modified their holdings of OHI. Cohen & Steers Inc. boosted its position in shares of Omega Healthcare Investors by 175.7% during the first quarter. Cohen & Steers Inc. now owns 4,212,863 shares of the real estate investment trust’s stock worth $111,809,000 after acquiring an additional 2,684,593 shares during the last quarter. Norges Bank acquired a new stake in Omega Healthcare Investors in the fourth quarter valued at $91,008,000. Bank of New York Mellon Corp lifted its holdings in Omega Healthcare Investors by 22.7% in the fourth quarter. Bank of New York Mellon Corp now owns 8,086,968 shares of the real estate investment trust’s stock valued at $342,483,000 after acquiring an additional 1,496,657 shares during the period. State Street Corp increased its position in shares of Omega Healthcare Investors by 10.6% in the first quarter. State Street Corp now owns 10,771,204 shares of the real estate investment trust’s stock valued at $285,868,000 after buying an additional 1,032,717 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Omega Healthcare Investors by 52.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,620,818 shares of the real estate investment trust’s stock valued at $110,992,000 after buying an additional 901,800 shares in the last quarter. Hedge funds and other institutional investors own 70.14% of the company’s stock.

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.

See Also: Coverage Ratio

The Fly

Analyst Recommendations for Omega Healthcare Investors (NYSE:OHI)

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