The Vanguard Group, Inc. recently announced the acquisition of new stake in Omega Healthcare Investors Inc. (NYSE:OHI). The institutional investor has increased its shareholding in the Real Estate company by 0.63% to 33.86 million shares with purchase of 0.21 million shares. This fresh investment now brings its stake to 14.45% valued currently at $906.09 million. In addition, BlackRock Fund Advisors raised its holdings by 34236.0 to 23.07 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.22% or 0.29 million shares – to 13.19 million shares.
With over 1.64 million Omega Healthcare Investors Inc. (OHI) shares trading Monday and a closing price of $29.02 on the day, the dollar volume was approximately $47.73 million. The shares have shown a negative half year performance of -4.26% and its price on 05/22/23 lost nearly -0.68%. Currently, there are 234.95M common shares owned by the public and among those 233.26M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for OHI have a consensus price objective of $30.00. The analysts have set the share’s price value over the next 12 months at a high of $33.00 and a low of $25.00. The average price target is 3.27% above its recent price level and a downside to the estimated low will see the stock lose -16.08% over that period. But an upside of 12.06% will see the stock hit the forecast high price target while median target price for the stock is $30.50.
Insiders at the company have transacted a total of 8 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 37,313 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 8,690 shares.
The top 3 mutual fund holders in Omega Healthcare Investors Inc. are Vanguard Real Estate Index Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF. Vanguard Real Estate Index Fund owns 10.32 million shares of the company’s stock, all valued at over $276.07 million. The company sold 88935.0 shares recently to bring their total holdings to about 4.40% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 26115.0 shares to see its total holdings expand to 7.31 million shares valued at over $195.61 million and representing 3.12% of the shares outstanding. Vanguard Total Stock Market ETF bought 53008.0 shares to bring its total holdings to over 7.25 million shares at a value of $194.11 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.10% of the shares outstanding.
Shares of Omega Healthcare Investors Inc. (NYSE: OHI) opened at $29.26, up $0.04 from a prior closing price of $29.22. However, the script later moved the day high at 29.47, down -0.68%. The company’s stock has a 5-day price change of -2.03% and 5.53% over the past three months. OHI shares are trading 3.83% year to date (YTD), with the 12-month market performance up to 3.44% higher. It has a 12-month low price of $25.61 and touched a high of $33.34 over the same period. OHI has an average intraday trading volume of 2.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.61%, 5.02%, and -1.00% respectively.
Institutional ownership of Omega Healthcare Investors Inc. (NYSE: OHI) shares accounts for 66.60% of the company’s 234.95M shares outstanding. Mutual fund holders own 26.90%, while other institutional holders and individual stakeholders account for 39.63% and 2.42% respectively.
It has a market capitalization of $6.82B and a beta (3y monthly) value of 0.96. The stock’s trailing 12-month PE ratio is 25.84, while the earnings-per-share (ttm) stands at $1.12. The company has a debt-to-equity ratio at 1.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.10% over the week and 2.47% over the month.
Analysts forecast that Omega Healthcare Investors Inc. (OHI) will achieve an EPS of $0.3 for the current quarter, $0.32 for the next quarter and $1.35 for 2024. The lowest estimate earnings-per-share for the quarter is $0.29 while analysts give the company a high EPS estimate of $0.31. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 2.50%, and 22.01% over the next financial year. EPS should shrink at an annualized rate of -9.46% over the next five years, compared to 29.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Omega Healthcare Investors Inc. (OHI) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 10 of the 14 advise that investors “hold,” and 1 rated it as a “Sell.”
