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

Omega Healthcare Investors (NYSE:OHI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.70-2.80 for the period, compared to the consensus estimate of $2.71.

Omega Healthcare Investors Stock Performance

Shares of NYSE:OHI traded up $0.07 on Friday, reaching $31.34. 2,470,937 shares of the company’s stock were exchanged, compared to its average volume of 1,414,371. Omega Healthcare Investors has a twelve month low of $27.53 and a twelve month high of $34.77. The company has a fifty day moving average of $30.98 and a 200-day moving average of $30.97. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 10.26 and a beta of 0.92. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 1.35.

Omega Healthcare Investors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 8.55%. The ex-dividend date is Monday, April 29th. Omega Healthcare Investors’s dividend payout ratio is currently 241.44%.

Analyst Ratings Changes

A number of analysts have recently weighed in on OHI shares. Citigroup upgraded Omega Healthcare Investors from a neutral rating to a buy rating and upped their target price for the company from $32.00 to $35.00 in a research report on Friday, March 22nd. Wells Fargo & Company upgraded shares of Omega Healthcare Investors from an equal weight rating to an overweight rating and increased their price objective for the stock from $31.00 to $35.00 in a research note on Monday, February 26th. BNP Paribas upgraded shares of Omega Healthcare Investors from an underperform rating to a neutral rating and set a $30.00 target price for the company in a research report on Thursday, February 8th. Truist Financial increased their price target on shares of Omega Healthcare Investors from $31.00 to $32.00 and gave the stock a hold rating in a research report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Omega Healthcare Investors in a research report on Tuesday, January 30th. They set a buy rating and a $36.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $33.63.

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.