Omega Healthcare Q4 2024 Earnings Report
Key Takeaways
Omega Healthcare Investors, Inc. announced its Q4 and full year 2024 results, featuring a net income of $116 million, or $0.41 per common share, and adjusted FFO of $214 million, or $0.74 per common share. The company completed $340 million in new investments and issued $438 million in equity during the quarter. The backdrop continues to be favorable. Operating metrics remain strong, with both occupancy and coverage modestly improving in the quarter.
Net income for the quarter was $116 million, or $0.41 per common share.
Adjusted Funds From Operations (AFFO) for the quarter totaled $214 million, or $0.74 per common share.
Completed approximately $340 million in new investments, including real estate acquisitions and real estate loans.
Issued 11 million common shares in Q4 for gross proceeds of $438 million.
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Forward Guidance
The Company expects its 2025 Adjusted FFO to be between $2.90 and $2.98 per diluted share.
Positive Outlook
- Includes the annual impact of acquisitions completed in 2024 and year-to-date in 2025.
- Assumes quarterly G&A expense of approximately $12 million to $14 million.
- Includes $56 million in asset sales.
- Includes repayment of $400 million in senior unsecured debt due 2025.
- Includes repayment of a $231 million secured mortgage loan in November 2025.
Challenges Ahead
- Excludes additional acquisitions and asset sales.
- Excludes certain revenue and expense items.
- Excludes interest refinancing expense.
- Excludes acquisition costs.
- Excludes additional provisions for credit losses, if any.