JazzIRT/E+ via Getty Images
Omega Healthcare Investors (New York Stock Exchange: OHI) continued to gain for a seventh straight session as shares closed up 1.12% at $39.28 on Tuesday.
The Maryland-based healthcare-focused real estate investment trust gained 3.02% over the previous six sessions. The stock has gained 27.4% so far. so far this year, compared with a rise of about 18% in the broader S&P 500 index.
OHI is up 7% over the past month. The stock closed Monday up 0.03% at $38.84.
Seeking Alpha's Quant Rating has given the stock a STRONG BUY rating with a score of 4.76 out of 5. The company has received an A in terms of reviews and a C- in growth outlook.
Among Wall Street analysts, 4 analysts recommend BUY or higher, 12 analysts recommend HOLD the stock while none recommend SELL.
Seeking Alpha analysts are also bullish on the stock and have given it a BUY rating.
Omega Healthcare Investors raised its 2024 earnings forecast earlier this month after its second-quarter earnings beat consensus, helped by accretive investments and the resolution of portfolio restructurings.
The healthcare REIT now expects 2024 adjusted FFO per share of $2.78 to $2.84, up from its prior guidance of $2.70 to $2.80 and higher than the consensus of $2.76.
Analyst Steven Fiorillo believes the stock will continue to rise and sees potential for dividend growth. “As the population ages, there will be an increasing need for OHI facilities, making it an interesting investment as there are not many REITs in this space,” Fiorillo wrote.