Omega Healthcare Investors, Inc. (NYSE:OHI) Increases Dividend to $0.64 Per Share
Omega Healthcare Investors, Inc. (NYSE:OHI) announced a quarterly dividend on Friday, July 14th, Wall Street Journal reports. Investors of record on Tuesday, August 1st will be paid a dividend of 0.64 per share by the real estate investment trust on Tuesday, August 15th. This represents a $2.56 dividend on an annualized basis and a yield of 7.67%. The ex-dividend date of this dividend is Friday, July 28th. This is an increase from Omega Healthcare Investors’s previous quarterly dividend of $0.63.
Omega Healthcare Investors has raised its dividend by an average of 8.3% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Omega Healthcare Investors has a dividend payout ratio of 76.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Omega Healthcare Investors to earn $3.45 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 74.2%.
Shares of Omega Healthcare Investors (NYSE:OHI) opened at 33.37 on Monday. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 15.64 and a beta of 0.51. The company has a 50-day moving average price of $32.74 and a 200-day moving average price of $32.40. Omega Healthcare Investors has a 12 month low of $28.11 and a 12 month high of $38.09.
Omega Healthcare Investors (NYSE:OHI) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. Omega Healthcare Investors had a net margin of 45.16% and a return on equity of 9.95%. The company had revenue of $231.74 million during the quarter, compared to the consensus estimate of $197.55 million. During the same period in the prior year, the firm earned $0.83 earnings per share. Omega Healthcare Investors’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts anticipate that Omega Healthcare Investors will post $1.99 EPS for the current year.
A number of equities analysts recently issued reports on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $33.00 price target on shares of Omega Healthcare Investors in a research note on Friday, May 12th. Zacks Investment Research downgraded shares of Omega Healthcare Investors from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. Vetr downgraded shares of Omega Healthcare Investors from a “buy” rating to a “hold” rating and set a $34.12 price target for the company. in a research note on Wednesday, March 29th. Finally, BidaskClub raised shares of Omega Healthcare Investors from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.67.
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In other Omega Healthcare Investors news, Director Craig R. Callen bought 15,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was acquired at an average price of $31.40 per share, with a total value of $471,000.00. Following the completion of the purchase, the director now owns 18,000 shares of the company’s stock, valued at $565,200. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert O. Stephenson sold 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $34.58, for a total transaction of $795,340.00. Following the transaction, the chief financial officer now directly owns 68,978 shares of the company’s stock, valued at approximately $2,385,259.24. The disclosure for this sale can be found here. 4.54% of the stock is currently owned by company insiders.
About Omega Healthcare Investors
Omega Healthcare Investors, Inc is a self-administered real estate investment trust (REIT). The Company maintains a portfolio of long-term healthcare facilities and mortgages on healthcare facilities located in the United States and the United Kingdom. It operates through the segment, which consists of investments in healthcare-related real estate properties.
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