$OHI · OMEGA HEALTHCARE INVESTORS INC
Omega Healthcare Investors reported Q3 2026 net income of $87M ($0.27/share diluted) and AFFO of $262M ($0.82/share). The company completed $182M in Q3 investments and $946M post-quarter, bringing year-to-date activity to ~$1.5B. Full-year 2026 AFFO guidance was raised to $3.28–$3.30 from $3.22–$3.26.
- Q3 2026 AFFO of $0.82/share beat prior-year $0.79/share on 321M weighted-average shares.
- Completed $946M in new investments since quarter-end, including an $846M U.K. mortgage loan at 8.72% interest.
- PACS transition of 32 Florida SNFs adds $26.1M in first-year annual contractual rent vs. prior operator.
- Genesis bankruptcy finalized; Omega received $149.5M in DIP and term loan repayments in October 2026.
- Operator EBITDAR coverage improved to 1.67x for the trailing twelve months ended June 30, 2026.
Extended-hours trading shows OHI at $48.01, up 1.01% vs. the regular close of $47.53, reflecting a positive initial reaction to the guidance raise and $946M post-quarter investment pipeline.
Omega's $1.5B investment pace, guidance raise, and improving operator coverage (1.67x EBITDAR) signal that the skilled nursing REIT cycle continues to inflect positively.
Omega's $1.5B year-to-date investment pace and 4.2% weighted-average debt cost highlight the advantage well-capitalized healthcare REITs have in consolidating SNF and senior housing assets amid ongoing operator distress.
$59.9M in acquisition, merger and transition costs this quarter (vs. $0.6M in Q3 2025) tied to U.K. RIDEA conversions and operator transitions. Maplewood rent remains at $6.9M/month with no guarantee of improvement. Guidance assumes no additional operators move to cash-basis accounting.