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In a report published Thursday, Hilliard Lyons analyst John Roberts downgraded the rating on Omega Healthcare Investors
OHI from Buy to Long-Term Buy, but named a $43.00 price target.
In the report, Roberts noted, “Management retained its expectation of about $200 million in acquisitions and investments closing for the year, right on our expectations and in light of the low amount so far for the year. Management noted that its pipeline remains robust, and we would not be surprised to see more acquisitions made in the year than expected. We remain comfortable with our estimate, which we have bumped up to a normalized $2.56 a share, above guidance. Management gave a little color on its expectations for equity issuance for the year, noting that they would be issuing shares under OHI's equity issuance program as deal flow warrants. Management noted that they had already issued 3.8 million shares for proceeds of $107 million in Q1.”
Omega Healthcare Investors closed on Wednesday at $34.85.
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