Huntington National Bank Raises Position in Omega Healthcare Investors, Inc. (NYSE:OHI)

Huntington National Bank increased its stake in Omega Healthcare Investors, Inc. (NYSE:OHI) by 34.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,245 shares of the real estate investment trust’s stock after buying an additional 1,607 shares during the quarter. Huntington National Bank’s holdings in Omega Healthcare Investors were worth $254,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Daiwa Securities Group Inc. grew its position in Omega Healthcare Investors by 1,030.8% in the second quarter. Daiwa Securities Group Inc. now owns 945,523 shares of the real estate investment trust’s stock valued at $32,384,000 after acquiring an additional 861,907 shares in the last quarter. Marshall Wace LLP acquired a new stake in Omega Healthcare Investors during the 2nd quarter valued at $20,962,000. BROOKFIELD Corp ON purchased a new stake in Omega Healthcare Investors during the 1st quarter worth $16,446,000. Dimensional Fund Advisors LP lifted its holdings in Omega Healthcare Investors by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,732,390 shares of the real estate investment trust’s stock worth $127,831,000 after buying an additional 272,299 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Omega Healthcare Investors by 150.8% in the 2nd quarter. Sei Investments Co. now owns 298,761 shares of the real estate investment trust’s stock valued at $10,233,000 after buying an additional 179,623 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OHI. Truist Financial lifted their target price on Omega Healthcare Investors from $33.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, September 4th. BMO Capital Markets upped their target price on Omega Healthcare Investors from $44.00 to $45.00 and gave the company a “market perform” rating in a research report on Monday, October 7th. Royal Bank of Canada raised their price target on shares of Omega Healthcare Investors from $39.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Berenberg Bank began coverage on shares of Omega Healthcare Investors in a research note on Friday, October 18th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $43.00 price objective (up from $40.00) on shares of Omega Healthcare Investors in a report on Tuesday, October 1st. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.00.

Omega Healthcare Investors Price Performance

Shares of OHI opened at $40.03 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 6.48 and a quick ratio of 6.48. The company has a market cap of $10.81 billion, a P/E ratio of 29.43, a PEG ratio of 1.25 and a beta of 0.99. Omega Healthcare Investors, Inc. has a 12 month low of $27.53 and a 12 month high of $44.42. The stock has a fifty day moving average price of $40.66 and a 200 day moving average price of $36.66.

Omega Healthcare Investors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $0.67 per share. The ex-dividend date was Monday, November 4th. This represents a $2.68 annualized dividend and a dividend yield of 6.69%. Omega Healthcare Investors’s dividend payout ratio is currently 197.06%.

Insider Buying and Selling

In related news, CFO Robert O. Stephenson sold 22,542 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $40.19, for a total value of $905,962.98. Following the completion of the transaction, the chief financial officer now directly owns 183,076 shares of the company’s stock, valued at $7,357,824.44. This represents a 10.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Daniel J. Booth sold 56,725 shares of Omega Healthcare Investors stock in a transaction on Friday, September 27th. The shares were sold at an average price of $40.25, for a total value of $2,283,181.25. Following the sale, the chief operating officer now directly owns 100,000 shares in the company, valued at $4,025,000. The trade was a 36.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.37% of the company’s stock.

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.