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

Omega Healthcare Investors, Inc. (NYSE:OHI) declared a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.67 per share by the real estate investment trust on Wednesday, May 15th. This represents a $2.68 annualized dividend and a yield of 8.81%. The ex-dividend date of this dividend is Monday, April 29th.

Omega Healthcare Investors has a payout ratio of 183.6% meaning 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 $2.77 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 Up 1.5 %

Shares of NYSE:OHI opened at $30.43 on Friday. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 1.35. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 9.82 and a beta of 0.91. The stock’s 50-day moving average price is $31.02 and its two-hundred day moving average price is $31.21. Omega Healthcare Investors has a 12-month low of $26.00 and a 12-month high of $34.77.

Analysts Set New Price Targets

OHI has been the topic of several research analyst reports. 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 target price on the stock. Mizuho decreased their price target 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. BNP Paribas upgraded Omega Healthcare Investors from an “underperform” rating to a “neutral” rating and set a $30.00 price objective for the company in a report on Thursday, February 8th. Wells Fargo & Company upgraded Omega Healthcare Investors from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $31.00 to $35.00 in a report on Monday, February 26th. Finally, Citigroup upgraded Omega Healthcare Investors from a “neutral” rating to a “buy” rating and upped their price target for the stock from $32.00 to $35.00 in a research note on Friday, March 22nd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $33.58.

Institutional Investors Weigh In On Omega Healthcare Investors

Several institutional investors and hedge funds have recently modified their holdings of OHI. Goldman Sachs Group Inc. lifted its position in Omega Healthcare Investors by 2.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 305,754 shares of the real estate investment trust’s stock worth $9,374,000 after acquiring an additional 8,150 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Omega Healthcare Investors by 14.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 129,700 shares of the real estate investment trust’s stock valued at $3,977,000 after purchasing an additional 16,413 shares during the period. Harbour Investments Inc. lifted its position in shares of Omega Healthcare Investors by 34.6% during the fourth quarter. Harbour Investments Inc. now owns 6,539 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 1,681 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Omega Healthcare Investors by 0.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 465,866 shares of the real estate investment trust’s stock worth $14,283,000 after purchasing an additional 4,004 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Omega Healthcare Investors by 3.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 60,599 shares of the real estate investment trust’s stock valued at $1,858,000 after purchasing an additional 2,194 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

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.