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

Omega Healthcare Investors, Inc. (NYSE:OHI) announced a quarterly dividend on Monday, October 28th, Wall Street Journal reports. Investors 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 annualized dividend and a yield of 6.45%. The ex-dividend date is Monday, November 4th.

Omega Healthcare Investors has a dividend 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. Equities 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 Up 0.0 %

OHI traded up $0.02 during trading hours on Monday, hitting $41.57. 1,348,892 shares of the company’s stock were exchanged, compared to its average volume of 1,642,948. The company has a current ratio of 5.79, a quick ratio of 5.79 and a debt-to-equity ratio of 1.19. Omega Healthcare Investors has a 12-month low of $27.53 and a 12-month high of $41.95. The firm has a market cap of $10.72 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The firm has a 50 day moving average of $40.10 and a 200 day moving average of $35.64.

Omega Healthcare Investors (NYSE:OHI) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.20). Omega Healthcare Investors had a net margin of 33.52% and a return on equity of 8.61%. The company had revenue of $252.70 million during the quarter, compared to analyst estimates of $205.92 million. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts predict that Omega Healthcare Investors will post 2.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Mizuho downgraded shares of 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 report on Thursday, July 25th. Truist Financial upped their price objective on shares of Omega Healthcare Investors from $33.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, September 4th. BMO Capital Markets upped their price objective on shares of Omega Healthcare Investors from $44.00 to $45.00 and gave the stock a “market perform” rating in a research report on Monday, October 7th. Wells Fargo & Company restated an “overweight” rating and set a $43.00 price objective (up previously from $40.00) on shares of Omega Healthcare Investors in a research report on Tuesday, October 1st. Finally, Berenberg Bank began 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. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.80.

Insider Activity at Omega Healthcare Investors

In related news, CFO Robert O. Stephenson sold 22,542 shares of the 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 sale, the chief financial officer now directly owns 183,076 shares of the company’s stock, valued at approximately $7,357,824.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Robert O. Stephenson sold 22,542 shares of Omega Healthcare Investors stock in a transaction dated 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 directly owns 183,076 shares in the company, valued at $7,357,824.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Daniel J. Booth sold 56,725 shares of Omega Healthcare Investors stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $40.25, for a total transaction of $2,283,181.25. Following the sale, the chief operating officer now owns 100,000 shares of the company’s stock, valued at approximately $4,025,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.37% of the stock is owned by corporate insiders.

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.