Stocks to Track – Omega Healthcare Investors Inc (NYSE:OHI) Berkshire Hathaway Inc. (NYSE:BRK.B)
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Shares of Omega Healthcare Investors Inc (NYSE:OHI) declined -4.04% to $32.10 on Thursday, soon after a self-administered real estate investment trust (REIT) on Wednesday stated a key measure of profitability in its second quarter. The results beat Wall Street expectations. The Hunt Valley, Maryland-based real estate investment trust said it had funds from operations of $179 million, or 87 cents per share, in the period. The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 86 cents per share.
Funds from operations are a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had net income of $65.3 million, or 33 cents per share. The health care real estate investment trust posted revenue of $235.8 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks predictable $225.9 million.
Omega Healthcare Shareholders anticipates full-year funds from operations in the range of $3.42 to $3.44 per share.
The stock price floated in a range of $31.77 – 33.02. The stock moved on high volume, traded at a volume of 6,325,408 shares, as compared to its average daily volume of 2.41M shares. The market capitalization for the company is reported at $6.32B.
While Elliott Administration Corp. tries to cobble together enough money to beat Berkshire Hathaway Inc.’s $9 billion bid to buy one of America’s leading transmission operators, it has another problem to deal with — in Texas.
The New York hedge fund run by billionaire Paul Singer is trying to convince Texas stakeholders that its deal to buy the state’s biggest power distributor, Oncor Electric Delivery Co., will be superior to Berkshire’s. Elliott has representatives in Texas meeting with stakeholders counting the state utility commission, people familiar with the situation said, asking not to be identified because the meetings aren’t public.
Berkshire Hathaway Inc. (NYSE:BRK.B) inclined 0.03 points or 0.02% at the market. The stock opened at $173.17. It reached an intraday trading high of $173.18 and closed at $173.05. The total volume traded for the day is 3,523,365, as compared to its average daily volume of 3.26M shares. The current EPS for the company has been recorded at $13,713.21 and the beta value recorded by the company stands at 0.88 points.
Elliott would have to win over the two sitting members of the Public Utility Commission of Texas, which will probably take a formal recommendation from the agency’s staff. And despite meetings with the fund, one state official said the commission remains concerned with Elliott’s plan because it lacks detail, counting the shareholders that would eventually own Oncor. In fact, in a letter revealed last week, the department’s executive director accused Elliott of mischaracterizing a June meeting with the commission’s staff and said the fund still needs to provide “noteworthy details” on its proposal.
Elliott declined to comment. Terry Hadley, a spokesman for the utility commission, said “nothing much has changed” since the agency’s executive director wrote that letter. (Source: Bloomberg)