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Omega Healthcare Investors Inc
NYSE:OHI

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Omega Healthcare Investors Inc Logo
Omega Healthcare Investors Inc
NYSE:OHI
Watchlist
Price: 31.67 USD 2% Market Closed
Updated: Mar 29, 2024

Intrinsic Value

Omega Healthcare Investors, Inc. engages in the provision of financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities. [ Read More ]

The intrinsic value of one OHI stock under the Base Case scenario is 34.23 USD. Compared to the current market price of 31.67 USD, Omega Healthcare Investors Inc is Undervalued by 7%.

Key Points:
OHI Intrinsic Value
Base Case
34.23 USD
Undervaluation 7%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Omega Healthcare Investors Inc

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Fundamental Analysis

Omega Healthcare Posts Strong Q4 and Gives 2024 Guidance
2023-Q4 Earnings Call

Omega Healthcare Posts Strong Q4 and Gives 2024 Guidance

Omega Healthcare Investors reported FAD (Funds Available for Distribution) at $2.62 per share for the full year, marginally below their dividend of $2.68, indicating a 102% payout ratio. Despite uncertainty in first-quarter 2024 FAD, the long-term outlook appears strong, promising stable and increasing cash flow, especially from holdings like Maplewood. Improvement is notable, as EBITDAR coverage decreased from 27.5% to 13.2% of total rent, with significant portions of the portfolio transitioning to stronger performance or being sold. Fourth-quarter revenue surged to $239 million from the previous year's $145 million, attributed to strategic operator restructurings, new investments, and netting off asset sales. The solid balance sheet closed the quarter with over $440 million in cash after significant mortgage repayments. The company outlines its 2024 AFFO guidance to be in the range of $2.70 to $2.80 per share, premised on stable revenue recognition, the completion of operator restructurings, and anticipated asset sales totaling $94 million. Rent collections from LaVie and applicated security deposits from Guardian contributed to the fourth quarter's earnings. Encouragingly, core portfolio occupancy climbed from January 2022's low of 74.6% to 80.2% by mid-January 2024.

Financials

Balance Sheet Decomposition
Omega Healthcare Investors Inc

Current Assets 669.4m
Cash & Short-Term Investments 442.8m
Receivables 226.5m
Non-Current Assets 8.4B
Long-Term Investments 197.1m
PP&E 5.9B
Intangibles 644.6m
Other Non-Current Assets 1.7B
Current Liabilities 276.2m
Accrued Liabilities 276.2m
Non-Current Liabilities 5.3B
Long-Term Debt 5.1B
Other Non-Current Liabilities 199.3m
Efficiency

Earnings Waterfall
Omega Healthcare Investors Inc

Revenue
949.7m USD
Cost of Revenue
-15m USD
Gross Profit
934.7m USD
Operating Expenses
-445.7m USD
Operating Income
489m USD
Other Expenses
-246.8m USD
Net Income
242.2m USD

Free Cash Flow Analysis
Omega Healthcare Investors Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
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Fundamental Scores

OHI Profitability Score
Profitability Due Diligence

Omega Healthcare Investors Inc's profitability score is 62/100. The higher the profitability score, the more profitable the company is.

62/100
Profitability
Score

Omega Healthcare Investors Inc's profitability score is 62/100. The higher the profitability score, the more profitable the company is.

OHI Solvency Score
Solvency Due Diligence

Omega Healthcare Investors Inc's solvency score is 30/100. The higher the solvency score, the more solvent the company is.

Short-Term Solvency
Long-Term Solvency
Average D/E
Positive Net Debt
30/100
Solvency
Score

Omega Healthcare Investors Inc's solvency score is 30/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

OHI Price Targets Summary
Omega Healthcare Investors Inc

Wall Street analysts forecast OHI stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for OHI is 32.93 USD with a low forecast of 28.28 USD and a high forecast of 38.85 USD.

Lowest
Price Target
28.28 USD
11% Downside
Average
Price Target
32.93 USD
4% Upside
Highest
Price Target
38.85 USD
23% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

OHI Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
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Shareholder Return

OHI Price
Omega Healthcare Investors Inc

1M 1M
+2%
6M 6M
-4%
1Y 1Y
+20%
3Y 3Y
+4%
5Y 5Y
+18%
10Y 10Y
+92%
Annual Price Range
31.67
52w Low
25.5
52w High
34.51
Price Metrics
Average Annual Return 0.23%
Standard Deviation of Annual Returns 10.91%
Max Drawdown -67%
Shares Statistics
Market Capitalization 7.8B USD
Shares Outstanding 250 000 000
Percentage of Shares Shorted 7.14%

OHI Return Decomposition
Main factors of price return

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OHI News

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Company Profile

Omega Healthcare Investors Inc Logo
Omega Healthcare Investors Inc

Country

United States of America

Industry

Real Estate

Market Cap

7.8B USD

Dividend Yield

8.46%

Description

Omega Healthcare Investors, Inc. engages in the provision of financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities. The company is headquartered in Hunt Valley, Maryland and currently employs 70 full-time employees. The firm maintains a portfolio of long-term healthcare facilities and mortgages on healthcare facilities located in the United States and the United Kingdom. The firm operates through the segment, which consists of investments in healthcare-related real estate properties located in the United States and the United Kingdom. The firm provides financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities (SNFs), assisted living facilities (ALFs), and to a lesser extent, independent living facilities (ILFs), rehabilitation and acute care facilities (specialty facilities) and medical office buildings (MOBs). The Company’s portfolio consists of long-term leases and mortgage loans with healthcare operating companies and affiliates. In addition, the Company selectively make loans to operators for working capital and capital expenditures.

Contact

MARYLAND
Hunt Valley
303 International Cir Ste 200
+14104271700.0
http://www.omegahealthcare.com/

IPO

1992-08-07

Employees

70

Officers

CEO & Director
Mr. C. Taylor Pickett CPA
CFO, Treasurer & Assistant Secretary
Mr. Robert O. Stephenson
Secretary & COO
Mr. Daniel J. Booth
Chief Legal Officer & General Counsel
Ms. Gail Dave Makode
Senior VP & Chief Accounting Officer
Mr. Neal Alexander Ballew
Senior Vice President of Corporate Strategy & Investor Relations
Mr. Matthew P. Gourmand
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Senior Vice President of Operations
Ms. Megan M. Krull
Senior Director of Asset Management
Michele Reber
Senior Vice President of Acquisitions & Development
Mr. Vikas Gupta
Show Less

See Also

Discover More
What is the Intrinsic Value of one OHI stock?

The intrinsic value of one OHI stock under the Base Case scenario is 34.23 USD.

Is OHI stock undervalued or overvalued?

Compared to the current market price of 31.67 USD, Omega Healthcare Investors Inc is Undervalued by 7%.