OHI is a dividend contender, having increased their dividend the last 11 years. They also have a 5-year CAGR of 9.4% and are currently yielding over 6%.
I originally purchased 130 shares back last December at a cost of $22.93/share. Since then shares of OHI have gone on a run, reaching a high of $38.41/share. There’s been some weakness over the last month and I decided to set a limit order at $30/share. Well that limit order was executed yesterday.
I purchased an additional 70 shares @ $30.00/share bringing my total shares to 200. My new cost basis rose a little from $22.93 to $25.45/share. Shares are still 18% above my new cost basis.
I decided to use this recent weakness to raise my stake in my only REIT. If you are not familiar with Omega Healthcare (OHI) , this is from their website:
Omega Healthcare Investors, Inc. (NYSE:OHI) is a Real Estate Investment Trust (“REIT”) providing financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities located in the United States.
There’s also a great article that a fellow blogger, Dividend Monk, just wrote in July about the company. That article can be found here.
I continue to be bullish on OHI but now have a full position for the time being.
This purchase added $131.60 to my forward 12-month dividend income with a new total of $6859.51.