Omega Healthcare Investors (NYSE:OHI) Lifted to Buy at Zacks Investment Research

Omega Healthcare Investors (NYSE:OHI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage currently has a $42.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.09% from the stock’s previous close.

According to Zacks, “Omega Healthcare Investors, Inc. was incorporated in the State of Maryland. It is a self-administered real estate investment trust (REIT), investing in income producing healthcare facilities, principally long-term care facilities located in the United States (U.S.) and the United Kingdom (U.K.). The Company provide lease or mortgage financing to qualified operators of skilled nursing facilities (SNFs) and, to a lesser extent, assisted living facilities (ALFs), independent living facilities and rehabilitation and acute care facilities. It has historically financed investments through borrowings under its revolving credit facilities, private placements or public offerings of its debt and equity securities, the assumption of secured indebtedness, retention of cash flow, or a combination of these methods. “

Several other analysts have also recently commented on OHI. Mizuho cut Omega Healthcare Investors from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a research report on Wednesday, January 13th. Jefferies Financial Group raised shares of Omega Healthcare Investors from a “hold” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $40.00 in a research note on Wednesday, January 13th. Finally, TheStreet raised shares of Omega Healthcare Investors from a “c+” rating to a “b-” rating in a research note on Monday, April 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $35.90.

Shares of Omega Healthcare Investors stock opened at $37.14 on Thursday. The firm has a 50-day simple moving average of $37.52 and a two-hundred day simple moving average of $35.39. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.40 and a current ratio of 3.40. Omega Healthcare Investors has a fifty-two week low of $23.89 and a fifty-two week high of $39.24. The company has a market cap of $8.61 billion, a P/E ratio of 53.83, a price-to-earnings-growth ratio of 2.47 and a beta of 1.03.

Omega Healthcare Investors (NYSE:OHI) last released its quarterly earnings results on Thursday, February 4th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.52). Omega Healthcare Investors had a net margin of 17.99% and a return on equity of 3.78%. Equities research analysts forecast that Omega Healthcare Investors will post 3.15 EPS for the current year.

In related news, COO Daniel J. Booth sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 30th. The stock was sold at an average price of $37.11, for a total value of $927,750.00. Following the completion of the transaction, the chief operating officer now directly owns 147,530 shares in the company, valued at $5,474,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 1,500 shares of company stock worth $55,695 over the last quarter. 1.16% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Daiwa Securities Group Inc. lifted its position in Omega Healthcare Investors by 4,508.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,080,335 shares of the real estate investment trust’s stock valued at $111,878,000 after buying an additional 3,013,495 shares during the last quarter. Norges Bank acquired a new position in shares of Omega Healthcare Investors in the 4th quarter worth approximately $83,272,000. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Omega Healthcare Investors by 213.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,447,939 shares of the real estate investment trust’s stock worth $88,941,000 after acquiring an additional 1,668,136 shares during the last quarter. Morgan Stanley boosted its position in shares of Omega Healthcare Investors by 62.9% during the 4th quarter. Morgan Stanley now owns 1,349,695 shares of the real estate investment trust’s stock worth $49,022,000 after purchasing an additional 521,037 shares during the period. Finally, BlackRock Inc. increased its holdings in Omega Healthcare Investors by 1.5% in the 4th quarter. BlackRock Inc. now owns 27,113,630 shares of the real estate investment trust’s stock valued at $984,766,000 after purchasing an additional 407,234 shares during the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

About Omega Healthcare Investors

Omega is a real estate investment trust 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 US, as well as in the UK.

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