Omega Healthcare Investors (NYSE: OHI) reported Q1 EPS of $0.69, $0.24 better than the analyst estimate of $0.45. Revenue for the quarter came in at $273.77 million versus the consensus estimate of $263.57 million.

CEO COMMENTS

Taylor Pickett, Omega’s Chief Executive Officer, stated, “We are pleased with our start to 2021, closing on nearly $600 million of acquisitions and reporting strong quarterly AFFO and FAD, as well as continued excellent rent collections. Furthermore, we were able to take advantage of robust capital markets to issue both debt and equity, enabling us to extend our debt maturities, fund acquisitions, and enhance our balance sheet. In addition, we are excited to announce that Maplewood’s flagship property, Inspīr Carnegie Hill in Manhattan, opened its doors to its first residents in March.”

Mr. Pickett continued, “The ongoing diligence of our operators, augmented by the continued roll-out of the vaccine, has led to a decline in COVID cases reported at our facilities of over 90% from the height of the pandemic. As a result, we started to see a modest improvement in occupancy in February and March. Nevertheless, with occupancy still well below pre-COVID levels and with Medicare mix moderating, many operators continue to be reliant on government financial support. Throughout this crisis, the efforts of both federal and state governments have highlighted their understanding of the vital role skilled nursing and assisted living facilities play within the healthcare continuum. We are hopeful that this support will continue to be provided as the industry remains focused on protecting its frail and vulnerable residents.”

Mr. Pickett concluded, “We 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.”

For earnings history and earnings-related data on Omega Healthcare Investors (OHI) click here.