Following The Money: Institution’s Growing Stake In Omega Healthcare Investors, Inc. (NYSE: OHI)

The Vanguard Group, Inc. has recently announced that it has increased stake in Omega Healthcare Investors, Inc. (NYSE:OHI) by 2.97%. After grabbing 34.33 million shares, the institutional investor is now in possession of 0.99 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 14.02% having worth around $1.14 billion. Moreover, BlackRock Fund Advisors increased its share by 1.03 million to have a control over 23.78 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.2 million shares by acquiring 13.14 million shares or 5.37% of the stake.

Omega Healthcare Investors, Inc. (OHI) concluded trading on 12/07/23 at a closing price of $30.53, with 2.53 million shares of worth about $77.35 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -1.17% during that period and on Thursday the price saw a gain of about 0.43%. Currently the company’s common shares owned by public are about 244.99M shares, out of which, 244.24M shares are available for trading.

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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 16 analysts are covering the OHI stock and their offered price forecasts bring an average price target of $33.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $37.00 and could fall to a lowest price of $30.00. The stock’s current price level is 8.87% above of average price target set by the analysts, while a rise to estimated low would result in loss of -1.77% for the stock. However, touching the estimated high of $37.00 would mean a gain of 17.49% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 11 times over the past 12 months. They bought 36,653 shares in 7 of the transactions. In 4 selling transactions, insiders dumped 10,453 shares.

Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and iShares Core S&P Mid Cap ETF are the top 3 mutual funds which are holding stakes in Omega Healthcare Investors, Inc. Vanguard Real Estate Index Fund is currently holding 9.66 million shares of worth totaling $319.73 million. The company recently came selling 70781.0 shares which brought its stake up to 3.95% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 33648.0 shares, after which its hold over company’s outstanding shares expand to 3.13%, leaving 7.66 million shares with the mutual fund that have a worth of about $253.44 million. iShares Core S&P Mid Cap ETF, after buying 7.56 million shares, have now control over 3.09% of the stake in the company. It holds 0.0 shares of worth $250.31 million.

However, the stock later moved at a day high price of 30.67, or with a gain of 0.43%. Stock saw a price change of -3.84% in past 5 days and over the past one month there was a price change of -2.46%. Year-to-date (YTD), OHI shares are showing a performance of 9.23% which increased to 1.97% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $25.61 but also hit the highest price of $34.77 during that period. The average intraday trading volume for Omega Healthcare Investors, Inc. shares is 1.98 million. The stock is currently trading -3.21% below its 20-day simple moving average (SMA20), while that difference is down -6.21% for SMA50 and it goes to 0.23% higher than SMA200.

The Vanguard Group, Inc. acquired 34.33 million shares of Omega Healthcare Investors, Inc. having value of about $1.14 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.99 million shares in the company valued at close to $30233981.12, or have control over 2.97% stake in the company. Omega Healthcare Investors, Inc. (NYSE: OHI) currently have 244.99M outstanding shares and institutions hold larger chunk of about 68.15% of that. Holding of mutual funds in the company is about 28.75% while other institutional holders and individual stake holders have control over 39.81% and 2.35% of the stake respectively.

The stock has a current market capitalization of $7.48B and its 3Y-monthly beta is at 0.92. PE ratio of stock for trailing 12 months is 31.89, while it has posted earnings per share of $0.96 in the same period. It has a debt-to-equity ratio of 1.45. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OHI, volatility over the week remained 1.87% while standing at 1.82% over the month.

Analysts are in expectations that Omega Healthcare Investors, Inc. (OHI) stock would likely to be making an EPS of $0.35 in the current quarter, while forecast for next quarter EPS is $0.34 and it is $1.46 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.3 which is $0.49 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.19 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -38.26% while it is estimated to increase by 30.60% in next year. EPS is likely to shrink at an annualized rate of -5.70% for next 5-years, compared to annual growth of 29.19% made by the stock over the past 5-years.

Analysts at 16 brokerage firms have issued recommendations for the Omega Healthcare Investors, Inc. (OHI)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.56. Out of those 16 Wall Street analysts, 4 recommended a “Buy” rating, while 10 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

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