Omega Healthcare Investors
Omega Healthcare Investors have created a hopeful plan for 2024. The REIT noticed a balanced occupancy rate despite slow progress due to uneven staffing. Omegas occupancy levels have continued to rise. Due to the operating “restructuring”, REIT revenue and earnings declined in the fourth quarter of 2023.
CEO of Omega, Taylor Pickett, states that earnings will improve throughout the year. Pickett plans to complete a different operator restructuring, including LaVie and Guardian portfolios. Omega continued to reduce its holdings in its LaVie portfolio in the last quarter of skilled nursing facilities (SNFs).
Executives recognized Omega’s outstanding financial performance. Omega produced $440 million in cash and $1.4 billion in credit facility capacity. Omega made $249 million in new investments in the fourth quarter. Overall in 2023, Omega totaled $667 million in new investments and since the end of 2023, Omega has closed on $27 million in new mortgage loans.