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

Omega Healthcare Investors, Inc. (NYSE:OHI) declared a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Investors 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 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. Equities 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 Price Performance

Shares of NYSE OHI traded up $0.44 during trading hours on Friday, reaching $30.42. 1,141,400 shares of the stock traded hands, compared to its average volume of 1,754,355. The company has a market capitalization of $7.46 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 9.81 and a beta of 0.91. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 1.35. Omega Healthcare Investors has a 52-week low of $26.00 and a 52-week high of $34.77. The company’s 50-day simple moving average is $31.03 and its two-hundred day simple moving average is $31.22.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OHI. Vanguard Group Inc. raised its stake in shares of Omega Healthcare Investors by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 35,214,682 shares of the real estate investment trust’s stock worth $1,079,682,000 after purchasing an additional 346,811 shares during the last quarter. BlackRock Inc. raised its stake in shares of Omega Healthcare Investors by 1.2% in the first quarter. BlackRock Inc. now owns 29,080,420 shares of the real estate investment trust’s stock worth $797,094,000 after purchasing an additional 337,822 shares during the last quarter. State Street Corp raised its stake 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 worth $414,443,000 after purchasing an additional 1,715,004 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Omega Healthcare Investors by 16.1% in the first quarter. Geode Capital Management LLC now owns 4,908,367 shares of the real estate investment trust’s stock worth $134,538,000 after purchasing an additional 681,892 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Omega Healthcare Investors by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,280,643 shares of the real estate investment trust’s stock worth $89,921,000 after purchasing an additional 82,400 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on OHI. Bank of America lowered Omega Healthcare Investors from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $31.00 in a research report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on Omega Healthcare Investors in a research report on Tuesday, January 30th. They set a “buy” rating and a $36.00 price target on the stock. BNP Paribas upgraded Omega Healthcare Investors from an “underperform” rating to a “neutral” rating and set a $30.00 price target on the stock in a research report on Thursday, February 8th. Citigroup upgraded Omega Healthcare Investors from a “neutral” rating to a “buy” rating and raised their price target for the stock from $32.00 to $35.00 in a research report on Friday, March 22nd. Finally, Wells Fargo & Company upgraded Omega Healthcare Investors from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $31.00 to $35.00 in a research report on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Omega Healthcare Investors presently has an average 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.