{"id":429544,"date":"2021-02-04T16:33:08","date_gmt":"2021-02-04T21:33:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=429544"},"modified":"2021-02-04T16:33:08","modified_gmt":"2021-02-04T21:33:08","slug":"omega-reports-fourth-quarter-2020-results-and-recent-developments","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/omega-reports-fourth-quarter-2020-results-and-recent-developments\/","title":{"rendered":"Omega Reports Fourth Quarter 2020 Results and Recent Developments"},"content":{"rendered":"

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\nOmega Reports Fourth Quarter 2020 Results and Recent Developments\n<\/p>\n

\n\u00a0 Completed a $510 Million Acquisition in January 2021\n<\/p>\n

\n\u00a0\u00a0\u00a0 Completed $98 Million in New Investments in Q4\n<\/p>\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Issued $153 Million of Equity in Q4\n<\/p>\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0 Issued $700 Million 3.375% Notes due 2031 in Q4\n<\/p>\n

HUNT VALLEY, Md.–(BUSINESS WIRE<\/a>)–
\nOmega Healthcare Investors, Inc. (NYSE: OHI) (the \u201cCompany\u201d or \u201cOmega\u201d) today announced its results for the quarter and the year ended December 31, 2020. The Company reported net income for the quarter of $63.1 million or $0.27 per common share. The Company also reported NAREIT Funds From Operations (\u201cNAREIT FFO\u201d) for the quarter of $173.3 million or $0.73 per common share, Adjusted Funds From Operations (\u201cAFFO\u201d or \u201cAdjusted FFO\u201d) of $192.5 million or $0.81 per common share, and Funds Available for Distribution (\u201cFAD\u201d) of $182.9 million.\n<\/p>\n

\nNAREIT FFO, AFFO and FAD are supplemental non-GAAP financial measures that the Company believes are useful in evaluating the performance of real estate investment trusts. For more information regarding these non-GAAP measures, see the \u201cFunds From Operations\u201d on the Company\u2019s website at www.omegahealthcare.com<\/a>.\n<\/p>\n

CEO COMMENTS<\/span><\/b><\/p>\n

\nTaylor Pickett, Omega\u2019s Chief Executive Officer, stated, \u201cWe are pleased to finish an unprecedented year with strong quarterly AFFO and FAD, as well as continued excellent rent collections. Furthermore, we are excited to announce a new relationship with Brookdale, a leading operator of senior living communities, through our acquisition of 24 facilities for $510 million from Healthpeak Properties in January. We also took advantage of strong capital markets in the quarter to issue both debt and equity to enhance our balance sheet and fund acquisitions.\u201d\n<\/p>\n

\nMr. Pickett continued, \u201cOur operators continue to perform admirably in protecting residents. Despite a meaningful spike in COVID cases within communities nationwide during the holidays, through their enhanced infection control protocols and the continued diligence of their staff, many of our operators were able to significantly limit the increase in cases within our facilities. The efforts of both federal and state governments, including to grant priority access to vaccines for residents and staff, have highlighted their understanding of the vital role skilled nursing and assisted living facilities play within the healthcare continuum. With both occupancy and facility costs meaningfully impacted by the pandemic, we are hopeful that this support will remain forthcoming as the industry continues to focus on protecting their frail and vulnerable residents.\u201d\n<\/p>\n

\nMr. Pickett concluded, \u201cWe would once again like to highlight the remarkable efforts of our operators and their heroic employees, who risk their own health and that of their families to bravely protect and care for their residents, and we thank them wholeheartedly for their endeavors.\u201d\n<\/p>\n

2021 RECENT DEVELOPMENTS AND 2020 FOURTH QUARTER HIGHLIGHTS<\/span><\/b><\/p>\n

In Q1 2021, the Company\u2026<\/span><\/i><\/p>\n