Omega Healthcare Investors, Inc.
- Open
- 47.29
- Day high
- 47.30
- Day low
- 46.72
- Prev close
- 46.99
- Volume
- 172K
- Mkt cap
- $13.9B
- P/E (TTM)
- 16.2
- EPS (TTM)
- $2.89
- P/B
- 2.6
- P/S
- 10.8
- Yield
- 5.73%
- Per share
- $2.69
Omega Healthcare Investors, Inc. (OHI) is a Real Estate company listed on NYSE. The stock is up 11% over the past year. Drillr has 1 published research article covering OHI.
Omega Healthcare Investors, Inc. (OHI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OHI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $0.52 | $1.19 | +131.1% | $263M | -2.3% |
| Apr 29, 2026 | $0.50 | $0.82 | +65.0% | $267M | +0.1% |
| Feb 4, 2026 | $0.79 | $0.80 | +1.3% | $322M | +19.0% |
| Oct 30, 2025 | $0.77 | $0.79 | +2.5% | $312M | +8.0% |
| Jul 31, 2025 | $0.75 | $0.77 | +2.7% | $283M | +13.1% |
| May 1, 2025 | $0.75 | $0.75 | +0.1% | $277M | +16.0% |
| Feb 5, 2025 | $0.41 | $0.74 | +78.3% | $279M | +21.9% |
| Oct 30, 2024 | $0.71 | $0.74 | +4.4% | $276M | +1.9% |
| Aug 1, 2024 | $0.69 | $0.71 | +2.9% | $255M | +5.1% |
| May 2, 2024 | $0.65 | $0.68 | +4.6% | $246M | +3.6% |
| Feb 7, 2024 | $0.67 | $0.68 | +1.5% | $239M | +2.4% |
| Nov 2, 2023 | $0.70 | $0.71 | +1.4% | $242M | -2.0% |
OHI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | PICKETT C TAYLORdirector, officer: CHIEF EXECUTIVE OFFICER | Option | 26,177 | — |
| Jul 1, 2026 | Makode Gail Dofficer: CHIEF LEGAL OFFICER | Option | 5,620 | — |
| Jul 1, 2026 | PICKETT C TAYLORdirector, officer: CHIEF EXECUTIVE OFFICER | Option | 69,226 | — |
| Jul 1, 2026 | Gupta Vikasofficer: Chief Investment Officer | Option | 5,620 | — |
| Jul 1, 2026 | Ballew Nealofficer: CHIEF ACCOUNTING OFFICER | Option | 5,620 | — |
| Jul 1, 2026 | Gourmand Matthew Paulofficer: President | Option | 14,862 | — |
| Jul 1, 2026 | Gupta Vikasofficer: Chief Investment Officer | Option | 14,862 | — |
| Jul 1, 2026 | Ballew Nealofficer: CHIEF ACCOUNTING OFFICER | Grant | 168 | $37.25 |
| Jul 1, 2026 | STEPHENSON ROBERT Oofficer: CHIEF FINANCIAL OFFICER | Option | 28,770 | — |
| Jul 1, 2026 | STEPHENSON ROBERT Oofficer: CHIEF FINANCIAL OFFICER | Option | 10,879 | — |
| Jul 1, 2026 | Makode Gail Dofficer: CHIEF LEGAL OFFICER | Option | 14,862 | — |
| Jul 1, 2026 | Ballew Nealofficer: CHIEF ACCOUNTING OFFICER | Option | 14,862 | — |
| Jul 1, 2026 | Gourmand Matthew Paulofficer: President | Option | 5,620 | — |
| Jun 9, 2026 | HILL BARBARA Bdirector | Option | 7,079 | — |
| Jun 9, 2026 | PLAVIN STEPHEN Ddirector | Grant | 3,814 | — |
Source: OHI SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full OHI insider & 13F page →Omega Healthcare Investors, Inc. company profile
Overview
Omega Healthcare Investors, Inc. (NYSE:OHI) is a real estate investment trust (REIT) founded in 1992 that specializes in healthcare real estate. The company has built a diversified portfolio of healthcare facilities across the United States and United Kingdom, focusing primarily on skilled nursing facilities and assisted living communities. As one of the largest healthcare REITs in the market, Omega owns and leases properties to healthcare operators under long-term lease agreements, providing stable rental income while the operators handle day-to-day patient care and facility management.
Business
Omega Healthcare Investors operates as a healthcare-focused real estate investment trust, owning and leasing healthcare facilities to third-party operators. The company's portfolio consists of approximately 962 facilities with around 90,000 operating beds spread across 81 operators in 42 U.S. states and the United Kingdom. The company's business is divided into several key segments based on facility types. Skilled nursing facilities represent the largest portion of the portfolio, providing post-acute care services including rehabilitation, long-term care, and specialized medical services for patients transitioning from hospitals. These facilities typically serve patients covered by Medicare and Medicaid programs. Assisted living facilities cater to seniors who need help with daily activities but don't require intensive medical care, representing approximately 25% of the company's annual revenue run rate through its senior housing portfolio. The healthcare real estate industry serves as a critical infrastructure component of the broader healthcare system. Unlike traditional commercial real estate, healthcare facilities require specialized design, equipment, and regulatory compliance. Skilled nursing facilities must meet stringent federal and state regulations, including staffing requirements, safety standards, and quality metrics. The facilities typically feature specialized medical equipment, therapy rooms, dining areas, and residential-style accommodations designed for elderly and disabled populations. Omega has strategically expanded its geographic footprint beyond the United States into the United Kingdom, where it has made significant investments in care homes. The UK market represents a growing portion of new investments, accounting for 68% of total new investments in 2024, totaling $782 million. This international diversification provides exposure to different regulatory environments and reimbursement systems while maintaining focus on the core healthcare real estate sector.
Competitive moat
Omega's competitive moat stems from several interconnected factors, though the strength varies across different aspects of the business. The company benefits from specialized healthcare real estate expertise accumulated over three decades, providing deep understanding of regulatory requirements, operator evaluation, and facility design needs that generic real estate investors cannot easily replicate. The scale and diversification of Omega's portfolio creates advantages in risk management and operator relationships. With nearly 1,000 facilities across multiple operators and geographic regions, the company can weather individual operator difficulties better than smaller competitors. This scale also provides negotiating leverage with operators and access to larger transaction opportunities that smaller REITs cannot pursue. Relationship capital with healthcare operators represents another defensive element. Long-term partnerships with operators create switching costs and information advantages, as Omega develops intimate knowledge of operators' business models, management quality, and market positions. The company's willingness to provide flexible financing solutions, including real estate loans and sale-leaseback arrangements, strengthens these relationships. However, Omega's moat faces several challenges. The healthcare real estate sector attracts significant capital from institutional investors, private equity firms, and other REITs, creating competitive pressure on acquisition yields and tenant relationships. Regulatory risk represents a persistent threat, as changes in Medicare/Medicaid reimbursement, staffing requirements, or quality standards can dramatically impact operator profitability and rent-paying ability. The company's dependence on government reimbursement systems creates vulnerability to policy changes beyond Omega's control. Unlike other real estate sectors where tenants have more diverse revenue sources, healthcare operators rely heavily on government programs, making the entire sector susceptible to political and budgetary pressures. The moat strength is moderate rather than exceptional. While Omega has built meaningful competitive advantages through scale, expertise, and relationships, the healthcare real estate sector remains competitive with significant regulatory and reimbursement risks that could erode returns over time.
Risks & safety
Omega demonstrates a solid but not exceptional margin of safety, with manageable debt levels but exposure to operator credit risk and regulatory uncertainties. • Liquidity position: Strong with $518 million in cash and short-term investments as of Q4 2024, providing substantial flexibility for operations and acquisitions • Debt management: Net funded debt-to-EBITDA ratio of 3.96x (lowest in ten years), well within target range of 4.0-5.0x; debt-to-equity ratio of 1.07x indicates moderate leverage • Current ratio: Excellent at 8.0x, indicating strong short-term liquidity coverage • Cash generation: Consistent positive free cash flow of $749 million annually, supporting dividend payments and growth investments • Valuation metrics: EV/EBITDA of 14.9x appears reasonable for a healthcare REIT; P/E ratio of 24.0x suggests modest premium to historical averages • Dividend coverage: Funds Available for Distribution (FAD) covers dividend at approximately 96% payout ratio, providing modest cushion • Operator concentration risk: Diversified across 81 operators, though individual operator bankruptcies (like LaVie) can impact cash flows • Regulatory exposure: Vulnerable to changes in Medicare/Medicaid reimbursement and staffing mandates that could affect operator ability to pay rent
Recent development
Over the past few years, Omega has executed several strategic pivots to strengthen its portfolio and adapt to post-pandemic healthcare industry dynamics. The company has significantly expanded its international presence, with UK investments representing 68% of total new investments in 2024 ($782 million). This geographic diversification reduces dependence on U.S. regulatory and reimbursement systems while accessing attractive yields in the UK care home market. Omega has also diversified its investment approach by incorporating real estate loans alongside traditional property acquisitions. In 2024, approximately 31% of new investments ($359 million) were structured as loans, providing higher current yields while creating potential opportunities for property ownership if operators encounter difficulties. This strategy offers more flexible capital deployment and enhanced returns. The company has undertaken significant portfolio optimization through operator restructuring and facility dispositions. Major restructuring activities included resolving issues with LaVie (expected to exit bankruptcy in Q2 2025), stabilizing the Maplewood senior housing portfolio (reaching 94% occupancy), and working through various operator transitions. These efforts have improved overall portfolio quality and operator coverage ratios. Management changes in 2024 brought fresh leadership with Matthew Gorman appointed as President and Vikas Gupta as Chief Investment Officer, signaling potential strategic evolution. The company has also strengthened its balance sheet by reducing leverage to 3.96x (lowest in ten years) while maintaining active acquisition programs. Recent strategic focus includes expanding private-pay exposure, with private pay and other non-government revenue increasing from 8% to 39% over the past decade. This reduces dependence on government reimbursement systems and provides more stable cash flows. The company continues to monitor and adapt to regulatory changes, including potential modifications to CMS staffing mandates and various state Medicaid policy adjustments.
OHI company profile · for informational purposes only — not investment advice.
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