Royal Bank of Canada Forecasts Strong Price Appreciation for Omega Healthcare Investors (NYSE:OHI) Stock

Omega Healthcare Investors (NYSE:OHI) had its price target hoisted by research analysts at Royal Bank of Canada from $39.00 to $43.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 4.95% from the stock’s previous close.

A number of other equities research analysts have also recently commented on OHI. Wells Fargo & Company reiterated an “overweight” rating and set a $43.00 price target (up previously from $40.00) on shares of Omega Healthcare Investors in a report on Tuesday, October 1st. 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 report on Wednesday, September 4th. BMO Capital Markets upped their price target on Omega Healthcare Investors from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Monday, October 7th. BNP Paribas upgraded Omega Healthcare Investors from a “neutral” rating to an “outperform” rating and set a $49.00 price objective for the company in a report on Thursday, October 31st. Finally, Scotiabank upped their target price on shares of Omega Healthcare Investors from $33.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.00.

Omega Healthcare Investors Price Performance

OHI opened at $40.97 on Monday. Omega Healthcare Investors has a 1 year low of $27.53 and a 1 year high of $44.42. The stock has a 50-day moving average price of $40.62 and a 200-day moving average price of $36.47. The firm has a market cap of $11.06 billion, a PE ratio of 30.13, a P/E/G ratio of 1.33 and a beta of 0.99. The company has a debt-to-equity ratio of 1.10, a current ratio of 6.48 and a quick ratio of 6.48.

Insiders Place Their Bets

In other news, CFO Robert O. Stephenson sold 22,542 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $40.19, for a total transaction of $905,962.98. Following the completion of the sale, the chief financial officer now owns 183,076 shares of the company’s stock, valued at $7,357,824.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Robert O. Stephenson sold 22,542 shares of Omega Healthcare Investors stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $40.19, for a total transaction of $905,962.98. Following the transaction, the chief financial officer now directly owns 183,076 shares of the company’s stock, valued at $7,357,824.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Daniel J. Booth sold 56,725 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $40.25, for a total transaction of $2,283,181.25. Following the completion of the sale, the chief operating officer now directly owns 100,000 shares of the company’s stock, valued at $4,025,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Omega Healthcare Investors

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in Omega Healthcare Investors by 93.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,803 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 2,324 shares during the period. Norden Group LLC purchased a new stake in Omega Healthcare Investors in the 1st quarter worth $214,000. Quantbot Technologies LP purchased a new stake in Omega Healthcare Investors in the 1st quarter worth $664,000. SG Americas Securities LLC bought a new position in shares of Omega Healthcare Investors during the 1st quarter valued at about $3,752,000. Finally, Concurrent Investment Advisors LLC grew its position in shares of Omega Healthcare Investors by 11.8% during the first quarter. Concurrent Investment Advisors LLC now owns 17,592 shares of the real estate investment trust’s stock valued at $557,000 after purchasing an additional 1,856 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

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.