The following is a summary of the Omega Healthcare Investors, Inc. (OHI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Omega Healthcare reported Q3 2024 total revenue of $276 million, up from $242 million in the same quarter last year.

• NAREIT FFO for Q3 was $196 million, or $0.71 per share, and adjusted FFO was $203 million, or $0.74 per share.

• FAD for Q3 was reported at $192 million, or $0.70 per share, showing improvement from previous quarters.

• The company increased its full year adjusted FFO guidance to $2.84 to $2.86 per share.

Business Progress:

• Omega has issued over $800 million in equity year-to-date, strengthening financial stability and supporting new investments.

• Completed $467 million in new investments during Q3, focusing on growing senior housing portfolio.

• High occupancy rates and strong operator relationships are evident, with 25% revenue from senior housing.

• No major restructuring activities with material operators, indicating stable operator partnerships.

Opportunities:

• Omega's continued capital deployment in acquisitions and robust pipeline suggest ongoing opportunities for growth.

• Expansion into senior housing and new markets like the UK, paired with strategic acquisitions, indicate potential for enhanced revenue and market presence.

Risks:

• Despite positive financial performance, concerns remain regarding potential regulatory impacts and staffing challenges in key states.

• Economic conditions that might affect operator capabilities, such as ability to pay rent under current agreements, pose indirect risks.

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