Omega Healthcare Investors (NYSE:OHI) Reaches New 52-Week High – Time to Buy?

Omega Healthcare Investors, Inc. (NYSE:OHI)’s share price reached a new 52-week high on Thursday . The stock traded as high as $41.84 and last traded at $41.77, with a volume of 22209 shares. The stock had previously closed at $41.61.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on OHI shares. Scotiabank raised their target price on shares of Omega Healthcare Investors from $33.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Truist Financial lifted their target price on Omega Healthcare Investors from $33.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, September 4th. BMO Capital Markets increased their price target on Omega Healthcare Investors from $44.00 to $45.00 and gave the company a “market perform” rating in a research note on Monday, October 7th. Berenberg Bank assumed coverage on shares of Omega Healthcare Investors in a research report on Friday, October 18th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $43.00 price objective (up from $40.00) on shares of Omega Healthcare Investors in a research report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $37.80.

Omega Healthcare Investors Stock Up 0.0 %

The company has a current ratio of 5.79, a quick ratio of 5.79 and a debt-to-equity ratio of 1.19. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 1.34 and a beta of 1.00. The firm’s 50 day simple moving average is $39.93 and its two-hundred day simple moving average is $35.47.

Omega Healthcare Investors (NYSE:OHI) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.20). Omega Healthcare Investors had a return on equity of 8.61% and a net margin of 33.52%. The firm had revenue of $252.70 million for the quarter, compared to the consensus estimate of $205.92 million. During the same period in the prior year, the company earned $0.74 EPS. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts forecast that Omega Healthcare Investors, Inc. will post 2.69 EPS for the current year.

Insider Buying and Selling at Omega Healthcare Investors

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Daiwa Securities Group Inc. raised its position in Omega Healthcare Investors by 1,030.8% in the second quarter. Daiwa Securities Group Inc. now owns 945,523 shares of the real estate investment trust’s stock valued at $32,384,000 after purchasing an additional 861,907 shares during the last quarter. Marshall Wace LLP acquired a new stake in Omega Healthcare Investors during the 2nd quarter worth approximately $20,962,000. BROOKFIELD Corp ON bought a new stake in Omega Healthcare Investors during the 1st quarter worth approximately $16,446,000. Dimensional Fund Advisors LP increased its position in Omega Healthcare Investors by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,732,390 shares of the real estate investment trust’s stock valued at $127,831,000 after acquiring an additional 272,299 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Omega Healthcare Investors by 150.8% during the second quarter. Sei Investments Co. now owns 298,761 shares of the real estate investment trust’s stock valued at $10,233,000 after acquiring an additional 179,623 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

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.