Daiwa Securities Group Inc. has significantly reduced its holdings in Omega Healthcare Investors, Inc. (NYSE: OHI) by 69.0% in the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, Daiwa now owns 1,656,965 shares after selling 3,693,390 shares during this period. This divestment leaves the firm with approximately 0.56% of Omega Healthcare, valued at about $60.7 million.
The movement of Daiwa’s investment coincides with similar actions by other institutional investors. For example, Caitong International Asset Management Co. Ltd acquired a new position in Omega Healthcare valued at $26,000 during the same quarter. Meanwhile, CENTRAL TRUST Co increased its stake by an impressive 1,654.4%, now holding 1,000 shares worth approximately $37,000 after acquiring 943 additional shares.
In addition, Cullen Frost Bankers Inc. purchased new shares valued at about $41,000, and Bayforest Capital Ltd raised its holdings by 395.2%, now owning 1,129 shares worth around $41,000. Elevation Point Wealth Partners LLC also entered into a new stake during the quarter, valued at about $63,000. Overall, institutional investors now control 65.25% of Omega Healthcare’s stock.
Market Performance and Recent Dividend Announcement
On November 17, 2023, shares of Omega Healthcare opened at $45.74. The company boasts a market capitalization of $13.52 billion, a price-to-earnings (P/E) ratio of 25.55, and a beta of 0.56. The firm has a current ratio of 7.11 and a debt-to-equity ratio of 0.95. Over the past year, Omega Healthcare shares have fluctuated between a low of $35.04 and a high of $46.36. The fifty-day simple moving average stands at $42.72, while the 200-day average is $40.49.
In a recent development, Omega Healthcare announced a quarterly dividend of $0.67, which was paid on November 17. Shareholders of record as of November 3 received this dividend, amounting to an annualized dividend of $2.68 and a yield of 5.9%. The company’s current dividend payout ratio (DPR) is 149.72%, indicating a high level of return to its shareholders.
Insider Transactions and Analyst Ratings
In related news, Chief Investment Officer Vikas Gupta acquired 11,500 shares of Omega Healthcare on November 6 at an average price of $42.97, totaling approximately $494,155. This purchase increased Gupta’s holdings to 13,773 shares, valued at around $591,826. The transaction was formally disclosed in a filing with the Securities and Exchange Commission.
CEO C Taylor Pickett also made a significant purchase, acquiring 20,000 shares on November 5 for an average price of $43.14, amounting to nearly $862,800. Following this transaction, Pickett now directly owns shares valued at approximately $862,800.
Several analysts have issued reports on Omega Healthcare shares recently. Citigroup reaffirmed a “buy” rating with a price target raised to $50.00 from a previous $45.00. Scotiabank increased its price target from $42.00 to $45.00, maintaining a “sector perform” rating. Raymond James Financial reiterated an “outperform” rating, while Mizuho raised its target price to $40.00. Truist Financial also increased its target from $44.00 to $46.00, assigning a “hold” rating.
Currently, six analysts rate Omega Healthcare with a “buy” rating, while five have assigned a “hold” rating. According to MarketBeat.com, the stock maintains a consensus rating of “Moderate Buy” and an average price target of $46.63.
Founded to provide financing and capital to the long-term healthcare sector, Omega Healthcare Investors focuses on skilled nursing facilities, assisted living, rehabilitation, and medical office buildings. For the latest updates on Omega Healthcare and similar companies, visit HoldingsChannel.com for comprehensive insights into institutional holdings and insider trades.
