Wells Fargo analyst Connor Siversky initiated coverage of Omega Healthcare Investors with an Overweight rating and $30 price target. The firm calls Omega its "anti-consensus pick." The company’s portfolio restructurings will result in an improved payout ratio in the second half of 2023, says the analyst, who estimates a covered dividend for the balance of the year. Wells believes the market is pricing in a probability of a dividend cut "that is not necessary." That said, it would also view a dividend cut as a positive long-term catalyst for the stock.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly