Mizuho analyst Vikram Malhotra downgraded Omega Healthcare to Neutral from Outperform with a price target of $35, up from $34. The firm’s prior positive stance on the company reflected higher than anticipated cash collections from tenants in restructuring, external growth picking up, and a more benign regulatory environment, the analyst tells investors in a research note. While Mizuho continues to see a high single-digit cash flow trajectory into FY25, the stock has been outperforming REITs by 18 points year-to-date, prompting a valuation-driven downgrade, the firm added.
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