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

Omega Healthcare Investors, Inc. (NYSE:OHI) announced a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Stockholders of record on Monday, August 5th will be given a dividend of 0.67 per share by the real estate investment trust on Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 7.50%. The ex-dividend date is Monday, August 5th.

Omega Healthcare Investors has a dividend payout ratio of 156.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Omega Healthcare Investors to earn $2.76 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 97.1%.

Omega Healthcare Investors Stock Performance

NYSE OHI traded down $0.66 during trading hours on Thursday, hitting $35.73. 1,564,872 shares of the company’s stock traded hands, compared to its average volume of 1,677,065. Omega Healthcare Investors has a 52 week low of $27.53 and a 52 week high of $37.13. The firm has a market capitalization of $8.83 billion, a P/E ratio of 32.57, a P/E/G ratio of 1.44 and a beta of 0.97. The company has a current ratio of 6.68, a quick ratio of 6.68 and a debt-to-equity ratio of 1.36. The business’s fifty day moving average price is $33.15 and its two-hundred day moving average price is $31.48.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Mizuho lowered Omega Healthcare Investors from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $34.00 to $35.00 in a research note on Thursday. JMP Securities reaffirmed a “market perform” rating on shares of Omega Healthcare Investors in a research report on Monday, May 6th. Scotiabank lifted their price target on shares of Omega Healthcare Investors from $32.00 to $33.00 and gave the company a “sector perform” rating in a report on Tuesday, July 9th. Truist Financial increased their price objective on shares of Omega Healthcare Investors from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday, June 26th. Finally, Wells Fargo & Company upgraded shares of Omega Healthcare Investors to a “strong-buy” rating in a research note on Friday, June 14th. Ten equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Omega Healthcare Investors has a consensus rating of “Hold” and an average price target of $33.73.

Omega Healthcare Investors Company Profile

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.