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

Omega Healthcare Investors, Inc. (NYSE:OHI) declared a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Shareholders of record on Tuesday, April 30th will be paid a dividend of 0.67 per share by the real estate investment trust on Wednesday, May 15th. This represents a $2.68 annualized dividend and a yield of 8.81%. The ex-dividend date of this dividend is Monday, April 29th.

Omega Healthcare Investors has a dividend payout ratio of 183.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Omega Healthcare Investors to earn $2.77 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 96.8%.

Omega Healthcare Investors Price Performance

Shares of NYSE:OHI opened at $30.43 on Friday. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 1.35. The stock’s fifty day simple moving average is $31.02 and its two-hundred day simple moving average is $31.21. Omega Healthcare Investors has a 1-year low of $26.00 and a 1-year high of $34.77. The stock has a market cap of $7.46 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 9.82 and a beta of 0.91.

Institutional Investors Weigh In On Omega Healthcare Investors

Large investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd purchased a new stake in Omega Healthcare Investors in the 3rd quarter worth about $25,000. Resurgent Financial Advisors LLC purchased a new stake in Omega Healthcare Investors in the 4th quarter worth about $27,000. Point72 Asset Management L.P. purchased a new stake in Omega Healthcare Investors in the 2nd quarter worth about $32,000. Chilton Capital Management LLC purchased a new position in Omega Healthcare Investors during the 1st quarter valued at about $50,000. Finally, Fortis Capital Advisors LLC purchased a new position in Omega Healthcare Investors during the 4th quarter valued at about $73,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company upgraded Omega Healthcare Investors from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $31.00 to $35.00 in a research note on Monday, February 26th. Bank of America cut Omega Healthcare Investors from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $33.00 to $31.00 in a research note on Tuesday, January 16th. BNP Paribas upgraded Omega Healthcare Investors from an “underperform” rating to a “neutral” rating and set a $30.00 target price on the stock in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft started coverage on Omega Healthcare Investors in a research note on Tuesday, January 30th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Truist Financial lifted their target price on Omega Healthcare Investors from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.58.

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.