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 guidance of $2.70-2.80 for the period, compared to the consensus earnings per share estimate of $2.71.

Omega Healthcare Investors Trading Up 0.2 %

Shares of Omega Healthcare Investors stock traded up $0.07 during trading on Friday, hitting $31.34. 2,470,937 shares of the company were exchanged, compared to its average volume of 1,414,371. The firm has a market capitalization of $7.74 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 10.26 and a beta of 0.92. The firm’s fifty day moving average price is $30.98 and its 200 day moving average price is $30.97. The company has a debt-to-equity ratio of 1.35, a current ratio of 6.76 and a quick ratio of 6.76. Omega Healthcare Investors has a 1-year low of $27.53 and a 1-year high of $34.77.

Omega Healthcare Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 8.55%. The ex-dividend date of this dividend is Monday, April 29th. Omega Healthcare Investors’s payout ratio is presently 241.44%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OHI. Bank of America cut shares of Omega Healthcare Investors from a buy rating to a neutral rating and lowered their price objective for the company from $33.00 to $31.00 in a research report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft initiated 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. Citigroup upgraded Omega Healthcare Investors from a neutral rating to a buy rating and boosted their price objective for the company from $32.00 to $35.00 in a research report on Friday, March 22nd. BNP Paribas raised Omega Healthcare Investors from an underperform rating to a neutral rating and set a $30.00 target price for the company in a research note on Thursday, February 8th. Finally, 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 company from $31.00 to $35.00 in a report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $33.63.

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.