Omega Healthcare Investors, Inc. Plans Quarterly Dividend of $0.67 (NYSE:OHI)

Omega Healthcare Investors, Inc. (NYSE:OHI) declared a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.67 per share by the real estate investment trust on Wednesday, May 15th. This represents a $2.68 dividend on an annualized basis and a yield of 8.62%. The ex-dividend date of this dividend is Monday, April 29th.

Omega Healthcare Investors has a payout ratio of 183.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Omega Healthcare Investors to earn $2.77 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 96.8%.

Omega Healthcare Investors Price Performance

OHI stock opened at $31.09 on Friday. Omega Healthcare Investors has a 1 year low of $26.11 and a 1 year high of $34.77. The company has a market cap of $7.68 billion, a P/E ratio of 31.40, a PEG ratio of 10.12 and a beta of 0.91. The firm has a 50-day moving average of $31.01 and a 200 day moving average of $31.13. The company has a debt-to-equity ratio of 1.35, a current ratio of 6.76 and a quick ratio of 6.76.

Analyst Ratings Changes

A number of research firms recently issued reports on OHI. BNP Paribas raised shares of Omega Healthcare Investors from an “underperform” rating to a “neutral” rating and set a $30.00 price target for the company in a research note on Thursday, February 8th. Truist Financial raised their target price on shares of Omega Healthcare Investors from $31.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Omega Healthcare Investors in a research note on Tuesday, January 30th. They set a “buy” rating and a $36.00 target price for the company. Mizuho decreased their target price on shares of Omega Healthcare Investors from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, January 3rd. Finally, Citigroup upgraded shares of Omega Healthcare Investors from a “neutral” rating to a “buy” rating and boosted their target price for the company from $32.00 to $35.00 in a research note on Friday, March 22nd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.58.

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.