Omega Healthcare Investors (NYSE:OHI) Hits New 1-Year High – Still a Buy?

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Berenberg Bank started coverage on Omega Healthcare Investors in a research note on Friday, October 18th. They issued a “buy” rating and a $45.00 price objective on the stock. Scotiabank lifted their price target on shares of Omega Healthcare Investors from $33.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Truist Financial boosted 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 note on Wednesday, September 4th. Mizuho downgraded shares of Omega Healthcare Investors from an “outperform” rating to a “neutral” rating and raised their target price for the company from $34.00 to $35.00 in a research note on Thursday, July 25th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $43.00 price target (up from $40.00) on shares of Omega Healthcare Investors in a research report on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Omega Healthcare Investors has a consensus rating of “Hold” and a consensus price target of $37.80.

Omega Healthcare Investors Price Performance

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 stock has a market cap of $10.72 billion, a PE ratio of 31.74, a P/E/G ratio of 1.33 and a beta of 1.00. The company’s 50 day moving average is $40.10 and its 200-day moving average is $35.58.

Omega Healthcare Investors (NYSE:OHI) last announced its earnings results 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 net margin of 33.52% and a return on equity of 8.61%. The business had revenue of $252.70 million for the quarter, compared to analyst estimates of $205.92 million. During the same quarter in the prior year, the business earned $0.74 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. As a group, sell-side analysts predict that Omega Healthcare Investors, Inc. will post 2.69 earnings per share for the current year.

Insider Buying and Selling at Omega Healthcare Investors

In other news, 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 of the company’s stock, valued at approximately $7,357,824.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Omega Healthcare Investors news, COO Daniel J. Booth sold 56,725 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 100,000 shares of the company’s stock, valued at $4,025,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert O. Stephenson sold 22,542 shares of Omega Healthcare Investors stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 183,076 shares of the company’s stock, valued at approximately $7,357,824.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Omega Healthcare Investors

Several large investors have recently added to or reduced their stakes in OHI. Vanguard Group Inc. raised its holdings in shares of Omega Healthcare Investors by 0.5% during the first quarter. Vanguard Group Inc. now owns 35,379,787 shares of the real estate investment trust’s stock worth $1,120,478,000 after purchasing an additional 165,105 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Omega Healthcare Investors by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,732,390 shares of the real estate investment trust’s stock worth $127,831,000 after acquiring an additional 272,299 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Omega Healthcare Investors by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 3,240,025 shares of the real estate investment trust’s stock valued at $110,971,000 after acquiring an additional 143,521 shares during the period. LSV Asset Management boosted its stake in Omega Healthcare Investors by 0.7% in the second quarter. LSV Asset Management now owns 1,968,200 shares of the real estate investment trust’s stock valued at $67,411,000 after acquiring an additional 14,000 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Omega Healthcare Investors by 1,030.8% during 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. 65.25% of the stock is currently owned by institutional investors.

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.