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

Omega Healthcare Investors, Inc. (NYSE:OHI) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

Shares of OHI stock opened at $30.43 on Friday. The company’s fifty day simple moving average is $31.02 and its 200-day simple moving average is $31.21. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 1.35. The firm has a market cap of $7.46 billion, a PE ratio of 30.74, a P/E/G ratio of 9.82 and a beta of 0.91. Omega Healthcare Investors has a 12 month low of $26.00 and a 12 month high of $34.77.

Hedge Funds Weigh In On Omega Healthcare Investors

Several institutional investors and hedge funds have recently modified their holdings of OHI. Federated Hermes Inc. increased its holdings in shares of Omega Healthcare Investors by 7,010.8% in the first quarter. Federated Hermes Inc. now owns 2,482,964 shares of the real estate investment trust’s stock valued at $77,369,000 after purchasing an additional 2,448,046 shares during the last quarter. State Street Corp increased its holdings in shares of Omega Healthcare Investors by 14.8% in the first quarter. State Street Corp now owns 13,300,467 shares of the real estate investment trust’s stock valued at $414,443,000 after purchasing an additional 1,715,004 shares during the last quarter. Norges Bank acquired a new position in shares of Omega Healthcare Investors in the fourth quarter valued at $36,626,000. Balyasny Asset Management L.P. acquired a new position in shares of Omega Healthcare Investors in the fourth quarter valued at $37,858,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Omega Healthcare Investors in the first quarter valued at about $28,879,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Omega Healthcare Investors in a research report on Tuesday, January 30th. They issued a “buy” rating and a $36.00 price objective on the stock. BNP Paribas raised shares of Omega Healthcare Investors from an “underperform” rating to a “neutral” rating and set a $30.00 price objective on the stock in a research report on Thursday, February 8th. Citigroup upgraded shares of Omega Healthcare Investors from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $32.00 to $35.00 in a report on Friday, March 22nd. Wells Fargo & Company upgraded shares of Omega Healthcare Investors from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $31.00 to $35.00 in a report on Monday, February 26th. Finally, Mizuho lowered their target price on shares of Omega Healthcare Investors from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Omega Healthcare Investors currently has a consensus rating of “Hold” and an average price target of $33.58.

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.