Omega Healthcare Investors Q2 2024 10-Q Filed

TL;DR

OHI's Q2 2024 10-Q is in. Financials for H1 2024 detailed.

AI Summary

Omega Healthcare Investors Inc. (OHI) filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of 2024, detailing common stock and dividend reinvestment plan activities. Key financial data for the periods ending June 30, 2024, and June 30, 2023, were presented.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Omega Healthcare Investors, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• 20240630 — Period End Date (Indicates the end of the reporting quarter)
• 20240802 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• Omega Healthcare Investors Inc. (company) — Filer of the 10-Q
• 0000888491-24-000036 (other) — Accession Number for the filing
• 20240630 (date) — Period of report
• 20240802 (date) — Filing date

FAQ

Filing Documents

• ohi-20240630x10q.htm (10-Q) — 3442KB
• ohi-20240630xex31d1.htm (EX-31.1) — 13KB
• ohi-20240630xex31d2.htm (EX-31.2) — 13KB
• ohi-20240630xex32d1.htm (EX-32.1) — 8KB
• ohi-20240630xex32d2.htm (EX-32.2) — 8KB
• 0000888491-24-000036.txt ( ) — 17215KB
• ohi-20240630.xsd (EX-101.SCH) — 124KB
• ohi-20240630_cal.xml (EX-101.CAL) — 106KB
• ohi-20240630_def.xml (EX-101.DEF) — 650KB
• ohi-20240630_lab.xml (EX-101.LAB) — 774KB
• ohi-20240630_pre.xml (EX-101.PRE) — 839KB
• ohi-20240630x10q_htm.xml (XML) — 3785KB

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 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8 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 36 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 54 Item 4.

Controls and Procedures

Controls and Procedures 54 PART II Other Information Item 1.

Legal Proceedings

Legal Proceedings 54 Item 1A.

Risk Factors

Risk Factors 54 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54 Item 5. Other Information 55 Item 6. Exhibits 56 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) June 30, December 31, 2024 2023 (Unaudited) ASSETS Real estate assets Buildings and improvements $ 6,925,123 $ 6,879,034 Land 876,762 867,486 Furniture and equipment 473,021 467,393 Construction in progress 185,487 138,410 Total real estate assets 8,460,393 8,352,323 Less accumulated depreciation ( 2,583,159 ) ( 2,464,227 ) Real estate assets – net 5,877,234 5,888,096 Investments in direct financing leases – net 9,437 8,716 Real estate loans receivable – net 1,378,798 1,212,162 Investments in unconsolidated joint ventures 185,270 188,409 Assets held for sale 76,627 81,546 Total real estate investments 7,527,366 7,378,929 Non-real estate loans receivable – net 234,562 275,615 Total investments 7,761,928 7,654,544 Cash and cash equivalents 35,193 442,810 Restricted cash 3,938 1,920 Contractual receivables – net 10,360 11,888 Other receivables and lease inducements 230,428 214,657 Goodwill 643,786 643,897 Other assets 162,913 147,686 Total assets $ 8,848,546 $ 9,117,402 LIABILITIES AND EQUITY Revolving credit facility $ 70,226 $ 20,397 Secured borrowings — 61,963 Senior notes and other unsecured borrowings – net 4,590,378 4,984,956 Accrued expenses and other liabilities 287,354 287,795 Total liabilities 4,947,958 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 – 254,023 shares as of June 30, 2024 and 245,282 shares as of December 31, 2023 25,402 24,528 Additional paid-in capital 6,951,244 6,671,198 Cumulative net earnings 3,861,804 3,680,581 Cumulative dividends paid ( 7,161,897 ) ( 6,831,061 ) Accumulated other comprehensive in

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Unaudited June 30, 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 June 30, 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 Uni

View Full Filing

View this 10-Q filing on SEC EDGAR