Omega Healthcare Investors (NYSE:OHI) Given New $45.00 Price Target at Scotiabank

Omega Healthcare Investors (NYSE:OHI) had its price target upped by Scotiabank from $42.00 to $45.00 in a research note published on Thursday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other brokerages have also recently weighed in on OHI. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Omega Healthcare Investors in a research note on Wednesday, October 8th. Cantor Fitzgerald assumed coverage on shares of Omega Healthcare Investors in a research report on Wednesday, October 1st. They set an “overweight” rating and a $50.00 price objective for the company. Citigroup reiterated a “buy” rating and set a $50.00 price objective (up previously from $45.00) on shares of Omega Healthcare Investors in a research note on Wednesday. Raymond James Financial reissued an “outperform” rating on shares of Omega Healthcare Investors in a research report on Tuesday, September 2nd. Finally, Mizuho lifted their price objective on shares of Omega Healthcare Investors from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Omega Healthcare Investors has an average rating of “Moderate Buy” and an average target price of $45.38.

Omega Healthcare Investors Stock Performance

Shares of OHI traded up $0.44 during mid-day trading on Thursday, hitting $43.89. The stock had a trading volume of 1,938,221 shares, compared to its average volume of 2,229,928. The company has a market cap of $12.97 billion, a PE ratio of 27.09, a PEG ratio of 1.85 and a beta of 0.69. Omega Healthcare Investors has a fifty-two week low of $35.04 and a fifty-two week high of $44.40. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.96. The company’s fifty day simple moving average is $41.63 and its two-hundred day simple moving average is $39.47.

Omega Healthcare Investors (NYSE:OHI) last announced its earnings results on Thursday, October 30th. The real estate investment trust reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. Omega Healthcare Investors had a return on equity of 9.78% and a net margin of 42.23%.The business had revenue of $311.59 million during the quarter, compared to analysts’ expectations of $262.48 million. During the same quarter last year, the business posted $0.71 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Omega Healthcare Investors has set its FY 2025 guidance at 3.080-3.100 EPS. On average, equities analysts expect that Omega Healthcare Investors will post 2.86 earnings per share for the current year.

Omega Healthcare Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.68 annualized dividend and a dividend yield of 6.1%. Omega Healthcare Investors’s payout ratio is presently 149.72%.

Insider Activity

In other news, CEO C Taylor Pickett bought 20,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average price of $43.14 per share, for a total transaction of $862,800.00. Following the completion of the purchase, the chief executive officer owned 20,000 shares in the company, valued at approximately $862,800. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CIO Vikas Gupta purchased 11,500 shares of Omega Healthcare Investors stock in a transaction dated Thursday, November 6th. The stock was bought at an average price of $42.97 per share, with a total value of $494,155.00. Following the completion of the purchase, the executive directly owned 13,773 shares of the company’s stock, valued at approximately $591,825.81. This trade represents a 505.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Omega Healthcare Investors

Institutional investors have recently bought and sold shares of the stock. Creative Planning increased its position in shares of Omega Healthcare Investors by 66.5% during the 3rd quarter. Creative Planning now owns 93,656 shares of the real estate investment trust’s stock valued at $3,954,000 after purchasing an additional 37,402 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Omega Healthcare Investors by 19.9% in the third quarter. Lazard Asset Management LLC now owns 337,142 shares of the real estate investment trust’s stock worth $14,234,000 after purchasing an additional 55,936 shares during the last quarter. Credit Agricole S A acquired a new stake in Omega Healthcare Investors in the 3rd quarter worth approximately $6,297,000. Raymond James Financial Inc. lifted its holdings in shares of Omega Healthcare Investors by 5.6% during the third quarter. Raymond James Financial Inc. now owns 599,603 shares of the real estate investment trust’s stock worth $25,315,000 after purchasing an additional 31,714 shares during the period. Finally, California State Teachers Retirement System grew its position in Omega Healthcare Investors by 6.4% during the 3rd quarter. California State Teachers Retirement System now owns 274,501 shares of the real estate investment trust’s stock worth $11,589,000 after purchasing an additional 16,511 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

About Omega Healthcare Investors

Omega Healthcare Investors, Inc engages in the provision of financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities, assisted living facilities, independent living facilities, rehabilitation and acute care facilities, and medical office buildings.