Omega Healthcare Investors Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Omega Healthcare Investors Inc. filed its Q1 2024 10-Q report on May 3, 2024, detailing financial positions and comparative data.</b>

AI Summary

OMEGA HEALTHCARE INVESTORS INC (OHI) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Omega Healthcare Investors Inc. filed its quarterly report (10-Q) on May 3, 2024, for the period ending March 31, 2024. The filing includes financial data for the first quarter of 2024 and comparative periods. Key financial statement components such as Retained Earnings, Common Stock, and Additional Paid-In Capital are detailed as of March 31, 2024, and prior periods. The report references US GAAP standards, including Lease Income. The company's fiscal year ends on December 31.

Why It Matters

For investors and stakeholders tracking OMEGA HEALTHCARE INVESTORS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Omega Healthcare Investors Inc., crucial for understanding its performance and financial health in the first quarter of 2024. The detailed financial data, including balance sheet items and references to accounting standards, allows for analysis of trends and comparison against previous periods and industry benchmarks.

Risk Assessment

Risk Level: low — OMEGA HEALTHCARE INVESTORS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative disclosures, indicating a routine update.

Analyst Insight

Monitor future filings for detailed operational and financial performance metrics beyond the balance sheet data presented in this 10-Q.

Key Numbers

• 2024-03-31 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-03 — Filing Date (FILED AS OF DATE)
• 1231 — Fiscal Year End (FISCAL YEAR END)
• 6798 — Standard Industrial Classification (SIC Code for Real Estate Investment Trusts)

Key Players & Entities

• OMEGA HEALTHCARE INVESTORS INC (company) — FILER
• 0000888491 (company) — CENTRAL INDEX KEY
• 2024-05-03 (date) — FILED AS OF DATE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• MD (location) — STATE OF INCORPORATION
• 303 INTERNATIONAL CIRCLE, SUITE 200 (address) — BUSINESS ADDRESS
• 410-427-1700 (phone) — BUSINESS PHONE
• US GAAP (regulation) — accounting standards

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-03: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive update on the company's financial performance and position during the quarter.)

US GAAP

Generally Accepted Accounting Principles in the United States. (Ensures financial statements are prepared consistently and comparably, providing a reliable basis for analysis.)

REIT

Real Estate Investment Trust. (Indicates the company's business model focuses on owning, operating, or financing income-producing real estate.)

Filing Documents

• ohi-20240331x10q.htm (10-Q) — 2696KB
• ohi-20240331xex31d1.htm (EX-31.1) — 13KB
• ohi-20240331xex31d2.htm (EX-31.2) — 13KB
• ohi-20240331xex32d1.htm (EX-32.1) — 8KB
• ohi-20240331xex32d2.htm (EX-32.2) — 8KB
• 0000888491-24-000030.txt (&nbsp;) — 14894KB
• ohi-20240331.xsd (EX-101.SCH) — 116KB
• ohi-20240331_cal.xml (EX-101.CAL) — 105KB
• ohi-20240331_def.xml (EX-101.DEF) — 584KB
• ohi-20240331_lab.xml (EX-101.LAB) — 734KB
• ohi-20240331_pre.xml (EX-101.PRE) — 768KB
• ohi-20240331x10q_htm.xml (XML) — 3264KB

Financial Statements of Omega Healthcare Investors, Inc. (Unaudited)

Financial Statements of Omega Healthcare Investors, Inc. (Unaudited) : Consolidated Balance Sheets 2 Consolidated Statements of Operations 3 Consolidated Statements of Comprehensive Income 4 Consolidated Statements of Equity 5 Consolidated Statements of Cash Flows 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 48 PART II Other Information Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 48 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 5. Other Information 49 Item 6. Exhibits 50 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

- Financial Statements

Item 1 - Financial Statements OMEGA HEALTHCARE INVESTORS, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) March 31, December 31, 2024 2023 (Unaudited) ASSETS Real estate assets Buildings and improvements $ 6,866,358 $ 6,879,034 Land 865,028 867,486 Furniture and equipment 467,178 467,393 Construction in progress 162,269 138,410 Total real estate assets 8,360,833 8,352,323 Less accumulated depreciation ( 2,526,536 ) ( 2,464,227 ) Real estate assets – net 5,834,297 5,888,096 Investments in direct financing leases – net 8,873 8,716 Real estate loans receivable – net 1,246,528 1,212,162 Investments in unconsolidated joint ventures 185,937 188,409 Assets held for sale 81,546 81,546 Total real estate investments 7,357,181 7,378,929 Non-real estate loans receivable – net 269,342 275,615 Total investments 7,626,523 7,654,544 Cash and cash equivalents 361,773 442,810 Restricted cash 1,253 1,920 Contractual receivables – net 10,973 11,888 Other receivables and lease inducements 223,281 214,657 Goodwill 643,778 643,897 Other assets 144,267 147,686 Total assets $ 9,011,848 $ 9,117,402 LIABILITIES AND EQUITY Revolving credit facility $ 20,213 $ 20,397 Secured borrowings 20,145 61,963 Senior notes and other unsecured borrowings – net 4,987,794 4,984,956 Accrued expenses and other liabilities 283,103 287,795 Total liabilities 5,311,255 5,355,111 Preferred stock $ 1.00 par value authorized – 20,000 shares, issued and outstanding – none — — Common stock $ 0.10 par value authorized – 350,000 shares, issued and outstanding – 246,377 shares as of March 31, 2024 and 245,282 shares as of December 31, 2023 24,637 24,528 Additional paid-in capital 6,705,333 6,671,198 Cumulative net earnings 3,747,942 3,680,581 Cumulative dividends paid ( 6,995,876 ) ( 6,831,061 ) Accumulated other comprehe

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Unaudited March 31, 2024 NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Business Overview and Organization Omega Healthcare Investors, Inc. ("Parent") is a Maryland corporation that, together with its consolidated subsidiaries (collectively, "Omega," the "Company," "we," "our" or "us") invests in healthcare-related real estate properties located in the United States ("U.S.") and the United Kingdom ("U.K."). Our core business is to provide financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities ("SNFs"), assisted living facilities ("ALFs"), and to a lesser extent, independent living facilities ("ILFs"), rehabilitation and acute care facilities ("specialty facilities") and medical office buildings. Our core portfolio consists of long-term "triple net" leases and real estate loans with healthcare operating companies and affiliates (collectively, our "operators"). In addition to our core investments, we make loans to operators and/or their principals. From time to time, we also acquire equity interests in joint ventures or entities that support the long-term healthcare industry and our operators. Omega has elected to be taxed as a real estate investment trust ("REIT") for federal income tax purposes and is structured as an umbrella partnership REIT ("UPREIT") under which all of Omega's assets are owned directly or indirectly by, and all of Omega's operations are conducted directly or indirectly through, its operating partnership subsidiary, OHI Healthcare Properties Limited Partnership (collectively with its subsidiaries, "Omega OP"). Omega has exclusive control over Omega OP's day-to-day management pursuant to the partnership agreement governing Omega OP. As of March 31, 2024, Parent owned 97 % of the issued and outstanding units of partnership interest in Omega OP ("Omega OP Units"), and other investors owned 3 % of the outstanding Omega OP U

View Full Filing

View this 10-Q filing on SEC EDGAR