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

Omega Healthcare Investors, Inc. (NYSE:OHI) announced a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.67 per share by the real estate investment trust on Friday, November 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Monday, November 4th.

Omega Healthcare Investors has a payout ratio of 170.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 OHI stock opened at $41.18 on Friday. 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 fifty-two week low of $27.53 and a fifty-two week high of $44.42. The firm has a market capitalization of $10.62 billion, a PE ratio of 30.28, a P/E/G ratio of 1.37 and a beta of 1.00. The stock’s 50-day simple moving average is $40.47 and its 200-day simple moving average is $35.96.

Omega Healthcare Investors (NYSE:OHI) last posted 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 return on equity of 9.19% and a net margin of 34.41%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share. Equities analysts expect that Omega Healthcare Investors will post 2.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Scotiabank upped their price target on shares of Omega Healthcare Investors from $33.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. BNP Paribas upgraded Omega Healthcare Investors from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a research note on Thursday. Berenberg Bank initiated coverage on Omega Healthcare Investors in a report on Friday, October 18th. They issued a “buy” rating and a $45.00 price target for the company. Truist Financial lifted their target price on shares of Omega Healthcare Investors from $33.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, September 4th. Finally, Mizuho lowered shares of Omega Healthcare Investors from an “outperform” rating to a “neutral” rating and raised their price target for the company from $34.00 to $35.00 in a research report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $39.70.

Insider Transactions at Omega Healthcare Investors

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