Omega Healthcare Investors (NYSE:OHI) Updates 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 guidance of $2.70-2.80 for the period, compared to the consensus earnings per share estimate of $2.71.

Analyst Ratings Changes

A number of brokerages recently weighed in on OHI. BNP Paribas raised shares of Omega Healthcare Investors from an underperform rating to a neutral rating and set a $30.00 price objective for the company in a research report on Thursday, February 8th. Mizuho cut their target price on Omega Healthcare Investors from $35.00 to $34.00 and set a buy rating on the stock in a research note on Wednesday, January 3rd. Wells Fargo & Company upgraded shares of Omega Healthcare Investors from an equal weight rating to an overweight rating and upped their price target for the stock from $31.00 to $35.00 in a research report on Monday, February 26th. Citigroup upgraded shares of Omega Healthcare Investors from a neutral rating to a buy rating and lifted their price objective for the company from $32.00 to $35.00 in a research report on Friday, March 22nd. Finally, Bank of America lowered shares of Omega Healthcare Investors from a buy rating to a neutral rating and reduced their target price for the company from $33.00 to $31.00 in a research note on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $33.58.

Omega Healthcare Investors Price Performance

NYSE OHI traded up $0.58 on Thursday, reaching $31.27. 2,237,211 shares of the stock traded hands, compared to its average volume of 1,741,367. Omega Healthcare Investors has a 12 month low of $26.97 and a 12 month high of $34.77. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 9.96 and a beta of 0.92. The firm’s fifty day simple moving average is $30.97 and its 200 day simple moving average is $31.04. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.67 per share. The ex-dividend date is Monday, April 29th. This represents a $2.68 annualized dividend and a yield of 8.57%. Omega Healthcare Investors’s dividend payout ratio is currently 270.71%.

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.