Omega Healthcare Q4 2019 Earnings Report
Key Takeaways
Omega Healthcare Investors, Inc. reported a net income of $61.1 million, or $0.27 per common share, on revenues of $246.7 million for the quarter ended December 31, 2019. The company completed $896 million in new investments during the quarter, including the Encore portfolio acquisition and a joint venture in the U.K. senior housing market. The quarterly dividend was increased by $0.01 to $0.67 per share.
Completed $896 million in new investments in Q4 2019.
Increased quarterly dividend by $0.01 to $0.67 in October.
Completed the $735 million Encore portfolio acquisition.
Acquired a 49% interest in a U.K. senior housing joint venture for $93 million.
Omega Healthcare
Omega Healthcare
Omega Healthcare Revenue by Segment
Omega Healthcare Revenue by Geographic Location
Forward Guidance
The Company expects its 2020 annual net income to be between $1.58 and $1.66 per diluted share and its Adjusted FFO to be between $3.12 to $3.20 per diluted share.
Positive Outlook
- Annual impact of acquisitions completed in 2019
- Approximately $21 million of cash rent payments from Maplewood related to the Carnegie Hill project
- Over $82 million of planned capital renovation projects with 2020 estimated in-service dates or spending that we expect to generate cash in 2020
- Daybreak continuing on a cash basis
- Approximately $9.5 million to $10.5 million of quarterly G&A
Challenges Ahead
- Excludes additional acquisitions and asset sales
- Excludes the impact of gains and losses from the sale of assets
- Excludes certain revenue and expense items
- Excludes interest refinancing expense
- Excludes additional capital transactions, acquisition costs, and additional provisions for uncollectible accounts, if any.
Revenue & Expenses
Visualization of income flow from segment revenue to net income