Cadence Bank Sells 606 Shares of Omega Healthcare Investors, Inc. (NYSE:OHI)

Cadence Bank decreased its position in Omega Healthcare Investors, Inc. (NYSE:OHI) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,960 shares of the real estate investment trust’s stock after selling 606 shares during the quarter. Cadence Bank’s holdings in Omega Healthcare Investors were worth $812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of OHI. Lazard Asset Management LLC lifted its position in Omega Healthcare Investors by 259.1% in the 1st quarter. Lazard Asset Management LLC now owns 4,043 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 2,917 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Omega Healthcare Investors by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 133,166 shares of the real estate investment trust’s stock valued at $4,218,000 after purchasing an additional 3,466 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Omega Healthcare Investors in the first quarter valued at approximately $329,000. Tidal Investments LLC lifted its position in Omega Healthcare Investors by 2.5% in the first quarter. Tidal Investments LLC now owns 14,325 shares of the real estate investment trust’s stock valued at $454,000 after purchasing an additional 348 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Omega Healthcare Investors by 170.6% in the first quarter. Cetera Investment Advisers now owns 97,866 shares of the real estate investment trust’s stock valued at $3,099,000 after purchasing an additional 61,700 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling

In other news, CFO Robert O. Stephenson sold 22,542 shares of the 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 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 10.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Daniel J. Booth sold 56,725 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $40.25, for a total value of $2,283,181.25. Following the completion of the sale, the chief operating officer now directly owns 100,000 shares in the company, valued at approximately $4,025,000. This represents a 36.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Omega Healthcare Investors from $44.00 to $45.00 and gave the company a “market perform” rating in a research report on Monday, October 7th. Berenberg Bank assumed coverage on Omega Healthcare Investors in a research report on Friday, October 18th. They issued a “buy” rating and a $45.00 price objective for the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $43.00 price objective (up previously from $40.00) on shares of Omega Healthcare Investors in a research report on Tuesday, October 1st. BNP Paribas upgraded Omega Healthcare Investors from a “neutral” rating to an “outperform” rating and set a $49.00 target price for the company in a report on Thursday, October 31st. Finally, Royal Bank of Canada upped their target price on Omega Healthcare Investors from $39.00 to $43.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.00.

Omega Healthcare Investors Price Performance

Shares of OHI stock opened at $40.68 on Thursday. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 1.25 and a beta of 0.99. The business’s fifty day moving average is $40.60 and its 200 day moving average is $37.21. Omega Healthcare Investors, Inc. has a twelve month low of $27.53 and a twelve month high of $44.42. The company has a quick ratio of 6.48, a current ratio of 6.48 and a debt-to-equity ratio of 1.10.

Omega Healthcare Investors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.67 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.68 annualized dividend and a yield of 6.59%. Omega Healthcare Investors’s payout ratio is 197.06%.

Omega Healthcare Investors 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.