OMEGA HEALTHCARE INVESTORS INC

Omega Healthcare Investors, Inc. (NYSE: OHI) is a real estate investment trust that invests in healthcare-related properties across the United States, United Kingdom, and Canada. The company became publicly traded in 1992 and operates as an umbrella partnership REIT structure, with its parent company owning approximately 95% of its operating partnership.

The company's investment portfolio comprises 1,027 operating healthcare facilities operated by 89 third-party operators or managers across 42 states, Washington D.C., the U.K., and Jersey. The portfolio includes 561 skilled nursing facilities, 339 assisted living facilities, 19 independent living facilities, 16 specialty facilities, and one continuing care retirement community. Additionally, Omega maintains investments in unconsolidated entities holding 65 skilled nursing facilities, 17 assisted living facilities, one continuing care retirement community, and one specialty facility.

Omega's primary investment structures include triple-net operating leases, real estate loans, managed facilities through RIDEA structures, and equity investments in unconsolidated entities. The company's real estate assets and mortgage loans represent 88.5% of gross investments, while other real estate loans and non-real estate loans comprise the remainder. Triple-net leased properties generated an average annualized yield of approximately 10.4%, while real estate loans yielded approximately 10.2%.

The company's revenue for the year ended December 31, 2025 totaled $313 million, with real estate assets and mortgage loans generating 93.5% of revenues. Skilled nursing facilities and transitional care properties accounted for 54.6% of revenues, while senior housing properties represented 30.4%.

Omega's business model focuses on providing capital to healthcare operators while maintaining a geographically diverse portfolio operated by operators meeting the company's standards for management quality and creditworthiness. The company evaluates investments based on operator quality, facility cash flows, construction quality, location, regulatory environment, occupancy rates, and payor mix. As a REIT, Omega distributes at least 90% of taxable income to shareholders and is not subject to federal income tax at the corporate level on distributed income.