Omega Healthcare Investors (NYSE:OHI) Issues FY24 Earnings Guidance

Omega Healthcare Investors (NYSE:OHI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.78-$2.84 for the period, compared to the consensus estimate of $2.75. Omega Healthcare Investors also updated its FY 2024 guidance to 2.780-2.840 EPS.

Omega Healthcare Investors Stock Up 4.3 %

NYSE:OHI traded up $1.56 during midday trading on Friday, reaching $38.26. 3,750,088 shares of the stock traded hands, compared to its average volume of 1,599,951. Omega Healthcare Investors has a 12-month low of $27.53 and a 12-month high of $38.85. The business has a 50-day moving average of $33.91 and a two-hundred day moving average of $31.78. The company has a debt-to-equity ratio of 1.36, a quick ratio of 6.68 and a current ratio of 6.68. The stock has a market capitalization of $9.45 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.97.

Omega Healthcare Investors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be given a dividend of $0.67 per share. The ex-dividend date is Monday, August 5th. This represents a $2.68 dividend on an annualized basis and a yield of 7.00%. Omega Healthcare Investors’s payout ratio is 241.44%.

Wall Street Analysts Forecast Growth

OHI has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of Omega Healthcare Investors from $32.00 to $33.00 and gave the company a hold rating in a research report on Wednesday, June 26th. JMP Securities reaffirmed a market perform rating on shares of Omega Healthcare Investors in a report on Monday, May 6th. Scotiabank raised their price target on shares of Omega Healthcare Investors from $32.00 to $33.00 and gave the stock a sector perform rating in a report on Tuesday, July 9th. Wells Fargo & Company raised shares of Omega Healthcare Investors to a strong-buy rating in a report on Friday, June 14th. Finally, Mizuho cut shares of Omega Healthcare Investors from an outperform rating to a neutral rating and raised their price target for the stock from $34.00 to $35.00 in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $33.67.

About Omega Healthcare Investors

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.