Omega Healthcare Investors, Inc. (OHI): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde stratégique d'Omega Healthcare Investors, Inc. (OHI), une fiducie de placement immobilier pionnier qui transforme le financement des infrastructures de soins de santé. Cette entreprise innovante comble magistralement l'écart entre les opérateurs des établissements de santé et les investisseurs sophistiqués, créant un écosystème dynamique d'investissement immobilier et de soutien aux soins de santé. En tirant parti d'un modèle commercial robuste qui équilibre un sens financier avec l'expertise du secteur des soins de santé, OHI offre valeur unique Aux parties prenantes par le biais d'acquisitions de biens immobiliers stratégiques, de stratégies de location à long terme et de possibilités de dividendes cohérentes qui remodèlent la façon dont les propriétés de la santé génèrent une croissance économique durable.

Omega Healthcare Investors, Inc. (OHI) - Modèle commercial: partenariats clés

Logement pour personnes âgées et opérateurs de soins infirmiers qualifiés

Au quatrième trimestre 2023, Omega Healthcare Investors a des partenariats avec 83 partenaires opérationnels gérant 956 établissements de santé dans 42 États.

Catégorie de partenaire	Nombre d'installations	Couverture géographique
Installations de soins infirmiers qualifiés	697	37 États
Installations de vie assistée	259	22 États

Réseaux d'investissement immobilier de la santé

Omega Healthcare Investors détient 9,4 milliards de dollars d'actifs totaux avec un portefeuille d'investissement immobilier axé sur les propriétés des soins de santé.

• Investissements immobiliers de santé basés sur les FPI
• Réseaux de construction de bureaux médicaux
• Canaux d'investissement immobiliers de soins aux personnes âgées

Fournisseurs de services médicaux et systèmes de soins de santé

Le portefeuille de partenariat actuel comprend des relations avec 83 sociétés d'exploitation de soins de santé uniques.

Type de fournisseur	Coup de partenariat
Opérateurs de soins de santé indépendants	62
Systèmes de santé régionaux	21

Sociétés de gestion de capital-investissement et d'investissement

Omega Healthcare Investors entretient des relations stratégiques avec plusieurs entités de gestion des investissements, avec environ 5,2 milliards de dollars d'investissements immobiliers gérés.

Sociétés de gestion immobilière régionales et nationales

Les partenariats couvrent 42 États avec 956 établissements de santé totaux sous gestion.

Type d'entreprise de gestion	Nombre de partenariats	Couverture de l'installation
Sociétés de gestion régionale	47	612 installations
Sociétés de gestion nationale	36	344 installations

Omega Healthcare Investors, Inc. (OHI) - Modèle d'entreprise: activités clés

Acquérir et louer des propriétés immobilières de soins de santé

Depuis le quatrième trimestre 2023, les investisseurs Omega Healthcare possédaient 969 propriétés de soins de santé dans 41 États. Le portefeuille total des investissements immobiliers d'une valeur de 9,4 milliards de dollars. Taille moyenne de la propriété: 64 000 pieds carrés.

Type de propriété	Nombre de propriétés	Pourcentage de portefeuille
Installations de soins infirmiers qualifiés	673	69.5%
Installations de vie assistée	196	20.2%
Autres propriétés de soins de santé	100	10.3%

Gérer et maintenir des portefeuilles d'établissements de santé

Taux d'occupation à travers le portefeuille: 83,7% au 31 décembre 2023. Dépenses annuelles de maintenance des biens: 127 millions de dollars.

Fournir un soutien en capital et financier aux opérateurs de soins de santé

Investissements totaux dans les partenariats des opérateurs de soins de santé: 2,3 milliards de dollars. Ratio de couverture de bail moyen: 1,45x. Les termes de location se situent généralement entre 10 et 15 ans.

Effectuer des investissements et des évaluations immobilières stratégiques

• Budget annuel d'acquisition de propriétés: 500 millions de dollars
• Les critères d'investissement se concentrent sur les propriétés avec des flux de trésorerie stables
• Diversification géographique dans 41 États

Surveillance et évaluation des performances de la santé

Métrique de performance	Valeur 2023
Fonds des opérations (FFO)	687 millions de dollars
Rendement des dividendes	8.9%
Taux de rétention des locataires	92%

Omega Healthcare Investors, Inc. (OHI) - Modèle d'entreprise: Ressources clés

Portefeuille immobilier des soins de santé étendus

Au quatrième trimestre 2023, les investisseurs Omega Healthcare possèdent environ 964 établissements de santé dans 41 États. La superficie totale en pieds carrés de leur portefeuille immobilier est d'environ 56,3 millions de pieds carrés.

Type de propriété	Nombre d'installations	Pourcentage de portefeuille
Installations de soins infirmiers qualifiés	673	69.8%
Installations de vie assistée	180	18.7%
Autres établissements de santé	111	11.5%

Capacités financières et investissements solides

Au 31 décembre 2023, les investisseurs d'Omega Healthcare ont rapporté:

• Actif total: 9,43 milliards de dollars
• Investissements totaux dans l'immobilier: 7,82 milliards de dollars
• Dette: 4,61 milliards de dollars
• Capitalisation boursière: environ 3,2 milliards de dollars

Équipes de gestion et d'investissement expérimentées

Poste de direction	Années d'expérience
PDG	Plus de 20 ans dans l'investissement des soins de santé
Directeur financier	Plus de 15 ans en gestion financière
Chef des investissements	Plus de 18 ans dans l'investissement immobilier

Relations robustes de l'industrie des soins de santé

Omega Healthcare Investors entretient des relations avec plus de 70 sociétés d'exploitation de soins de santé à partir de 2023.

Évaluation avancée des propriétés et stratégies d'investissement

• Diversification du portefeuille d'investissement dans plusieurs États
• Processus de diligence raisonnable rigoureux avec un taux de rétention des locataires de 92%
• Terme de location moyenne: 7,4 ans

Omega Healthcare Investors, Inc. (OHI) - Modèle d'entreprise: propositions de valeur

Revenu de dividende stable et cohérent pour les investisseurs

Au quatrième trimestre 2023, les investisseurs Omega Healthcare ont signalé un rendement en dividendes de 9,48%. L'entreprise a maintenu un historique de paiement de dividendes cohérent avec 0,67 $ par action dividende trimestrielle. Le paiement annuel du dividende annuel pour 2023 était approximativement 2,68 $ par action.

Métrique du dividende	Valeur 2023
Dividende trimestriel	0,67 $ / part
Dividende annuel	2,68 $ / part
Rendement des dividendes	9.48%

Opportunités d'investissement immobilier spécialisées en matière de santé

Les investisseurs Omega Healthcare gèrent un Portefeuille total de 927 établissements de santé à travers 41 États au quatrième trimestre 2023. La valeur totale de l'investissement immobilier était 9,3 milliards de dollars.

• Composition de portefeuille:
  • Installations de soins infirmiers qualifiés: 70%
  • Installations de vie assistée: 20%
  • Propriétés des soins de santé spécialisés: 10%

Soutien stratégique en capital pour les opérateurs de soins de santé

En 2023, les investisseurs Omega Healthcare ont fourni 287 millions de dollars en nouveaux investissements aux opérateurs de soins de santé. Le ratio de couverture de bail était 1.15x, indiquant une forte stabilité financière pour les opérateurs des locataires.

Portefeuille d'investissement immobilier diversifié des soins de santé

Type de propriété	Nombre d'installations	Investissement total
Soins infirmiers qualifiés	649	6,51 milliards de dollars
Assiette	186	1,86 milliard de dollars
Specialty Healthcare	92	930 millions de dollars

Croissance des investissements à long terme dans les infrastructures de santé

Le rendement total annuel moyen des investisseurs oméga en santé de 2018 à 2023 était 6.2%. Les actifs totaux au quatrième trimestre 2023 étaient 10,2 milliards de dollars. Le taux d'occupation entre les établissements de santé est resté stable 83.5%.

Omega Healthcare Investors, Inc. (OHI) - Modèle d'entreprise: relations avec les clients

Accords de location à long terme avec les opérateurs de soins de santé

Depuis le quatrième trimestre 2023, les investisseurs Omega Healthcare maintiennent 956 propriétés de soins de santé avec une durée de location moyenne de 9,4 ans. La valeur totale du portefeuille de propriétés est d'environ 9,4 milliards de dollars.

Métrique de location	Valeur
Propriétés totales	956
Terme de location moyenne	9,4 ans
Valeur de portefeuille	9,4 milliards de dollars

Modèles de partenariat collaboratif

OHI travaille avec 71 partenaires opérationnels dans 41 États, en se concentrant sur les infirmières qualifiées et les installations de vie assistée.

• Nombre de partenaires opérationnels: 71
• États couverts: 41
• Types de propriétés primaires: soins infirmiers qualifiés, vie assistée

Performance régulière et rapport financier

Les rapports financiers trimestriels pour 2023 montrent des versements de dividendes cohérents de 0,92 $ par action, avec un dividende annuel total de 3,68 $.

Métrique de rapport	Valeur 2023
Dividende trimestriel	$0.92
Dividende annuel	$3.68

Solutions d'investissement et de gestion immobilière personnalisées

OHI fournit des stratégies d'investissement sur mesure avec un Taux d'occupation de 93% à travers ses propriétés de soins de santé.

• Taux d'occupation des biens: 93%
• Approche d'investissement: financement immobilier personnalisé

Communication transparente avec les investisseurs et les parties prenantes

En 2023, OHI a tenu 4 conférences téléphoniques sur les résultats et produit des rapports trimestriels et annuels complets accessibles aux investisseurs.

Communication des investisseurs	2023 Fréquence
Conférences téléphoniques sur les gains	4
Rapports trimestriels	4
Rapports annuels	1

Omega Healthcare Investors, Inc. (OHI) - Modèle d'entreprise: canaux

Équipe de relations avec les investisseurs directs

Omega Healthcare Investors maintient une équipe de relations avec les investisseurs dédiés avec 3 professionnels à temps plein. En 2024, l'équipe gère les canaux de communication directs avec approximativement 275 investisseurs institutionnels.

Métriques de communication des investisseurs	Données quantitatives
Interactions annuelles des investisseurs	487 Engagements directs
Génération trimestrielle appelle les participants	92-118 participants
Temps de réponse moyen	1,7 jours ouvrables

Plateformes et échanges de marché financier

OHI est répertorié sur le Bourse de New York (NYSE) avec Symbole Ticker Ohi. Moyennes de volume de trading 1,2 million d'actions par jour.

• Échange principal: NYSE
• Capitalisation boursière: 3,86 milliards de dollars (au premier trimestre 2024)
• Volume de trading quotidien moyen: 1 200 000 actions

Conférences d'investissement immobilier

Les investisseurs Omega Healthcare participent aux 6-8 Conférences d'investissement immobilier majeures.

Type de conférence	Participation annuelle
Conférences nationales sur les investisseurs en soins de santé	4 conférences
Symposiums d'investissement régionaux	2-4 événements

Plateformes de communication des investisseurs numériques

OHI utilise plusieurs canaux numériques avec Ressources complètes des investisseurs en ligne.

• Section des investisseurs sur le site Web de l'entreprise: rapports trimestriels complets
• Plateforme de classement SEC Edgar: divulgations financières en temps réel
• Plateforme de webdiffusion des investisseurs: présentations de bénéfices trimestriels

Réseautage professionnel et événements de l'industrie

L'entreprise s'engage 12-15 événements de réseautage d'investissement de soins de santé spécialisés chaque année.

Catégorie d'événements de réseautage	Participation annuelle
Événements spécifiques au REIT de la santé	5-7 événements
Forums d'investissement immobilier plus larges	7-8 événements

Omega Healthcare Investors, Inc. (OHI) - Modèle d'entreprise: segments de clientèle

Opérateurs de soins de santé

En 2024, les investisseurs Omega Healthcare desservent environ 959 établissements de santé dans 41 États. Le portefeuille comprend:

Type d'installation	Nombre d'installations	Pourcentage de portefeuille
Installations de soins infirmiers qualifiés	676	70.5%
Installations de vie assistée	183	19.1%
Centre de soins spécialisés	100	10.4%

Investisseurs institutionnels

Omega Healthcare attire les investisseurs institutionnels avec les éléments suivants profile:

• Propriété totale institutionnelle: 72,4%
• Les principaux actionnaires institutionnels incluent Vanguard Group et BlackRock
• Valeur d'investissement institutionnelle: 4,2 milliards de dollars

Fiducies d'investissement immobilier

Caractéristiques du segment de la clientèle spécifiques à la FPI:

Métrique du REIT	Valeur
Actifs totaux de FPI	9,3 milliards de dollars
Rendement des dividendes	8.7%
Nombre d'investisseurs REIT	387

Sociétés de capital-investissement

Métriques d'engagement en capital-investissement:

• Investissements totaux de capital-investissement: 1,6 milliard de dollars
• Nombre de partenaires de capital-investissement: 24
• Taille moyenne de l'investissement: 66,7 millions de dollars

Investisseurs d'infrastructure de soins de santé

Investissement en infrastructure profile:

Catégorie d'investissement	Investissement total	Pourcentage de portefeuille
Logement pour personnes âgées	3,8 milliards de dollars	41%
Soins infirmiers qualifiés	4,5 milliards de dollars	48%
Autres infrastructures de santé	600 millions de dollars	11%

Omega Healthcare Investors, Inc. (OHI) - Modèle d'entreprise: Structure des coûts

Frais d'acquisition de biens

Au quatrième trimestre 2023, les investisseurs Omega Healthcare ont déclaré des investissements immobiliers totaux de 9,47 milliards de dollars. Les frais d'acquisition de biens de la société comprennent:

Type de propriété	Investissement total	Coût moyen par propriété
Installations de soins infirmiers qualifiés	6,82 milliards de dollars	22,3 millions de dollars
Installations de vie assistée	2,65 milliards de dollars	18,7 millions de dollars

Coûts d'entretien et de rénovation

Les dépenses de maintenance annuelles pour les investisseurs d'Omega Healthcare en 2023 ont totalisé 187,4 millions de dollars, avec la ventilation suivante:

• Entretien de routine: 103,6 millions de dollars
• Projets de rénovation majeurs: 53,8 millions de dollars
• Mises à niveau des infrastructures: 30 millions de dollars

Gestion et frais généraux opérationnels

Les coûts opérationnels de l'entreprise en 2023 comprenaient:

Catégorie de dépenses	Coût annuel
Rémunération des dirigeants	12,3 millions de dollars
Salaires des employés	45,6 millions de dollars
Frais administratifs	22,1 millions de dollars

Dépenses de diligence raisonnable d'investissement

Coût total de diligence raisonnable pour 2023: 8,7 millions de dollars

• Examen juridique et financier: 4,2 millions de dollars
• Inspection et évaluation des biens: 2,5 millions de dollars
• Étude de marché: 2 millions de dollars

Contacments de conformité réglementaire et de rapport

Les dépenses liées à la conformité pour 2023 s'élevaient à 6,9 millions de dollars:

Zone de conformité	Dépenses annuelles
Représentation réglementaire	3,4 millions de dollars
Frais d'audit externe	2,1 millions de dollars
Formation de la conformité	1,4 million de dollars

Omega Healthcare Investors, Inc. (OHI) - Modèle d'entreprise: Strots de revenus

Revenus locatifs provenant des propriétés des soins de santé

Au cours du troisième trimestre 2023, les investisseurs Omega Healthcare ont rapporté 222,4 millions de dollars dans le total des revenus de location. Le portefeuille est composé de 941 installations de soins de santé à travers 41 États.

Type de propriété	Nombre d'installations	Revenus de location
Installations de soins infirmiers qualifiés	697	165,3 millions de dollars
Installations de vie assistée	144	37,6 millions de dollars
Autres propriétés de soins de santé	100	19,5 millions de dollars

Location des paiements des opérateurs d'installation

Ratio de couverture de bail moyen: 1.25x. Revenu total de location pour 2023: 267,8 millions de dollars.

Appréciation du capital des actifs immobiliers

Valeur totale du portefeuille immobilier: 9,2 milliards de dollars. Taux annuel d'appréciation immobilière: 3.7%.

Distributions de dividendes aux actionnaires

Rendement des dividendes: 8.92%. Total des dividendes versés en 2023: 604,5 millions de dollars.

Période de dividende	Dividende par action	Distribution totale des dividendes
Q1 2023	$0.67	151,1 millions de dollars
Q2 2023	$0.67	151,1 millions de dollars
Q3 2023	$0.67	151,1 millions de dollars
Q4 2023	$0.67	151,1 millions de dollars

Frais de gestion des investissements

Revenus de frais de gestion des investissements: 12,3 millions de dollars pour 2023.

• Structure des frais basée sur le total des actifs sous gestion
• Taux de frais de gestion typiques: 1.2% de la valeur totale du portefeuille
• Frais supplémentaires basés sur les performances: 2,1 millions de dollars

Omega Healthcare Investors, Inc. (OHI) - Canvas Business Model: Value Propositions

You're building a portfolio that needs reliable, long-term income from essential healthcare assets. Here's the core value Omega Healthcare Investors, Inc. (OHI) delivers to its stakeholders, grounded in the numbers as of late 2025.

Stable, long-term capital for healthcare operators' growth strategies

Omega Healthcare Investors, Inc. provides the essential capital base that allows healthcare operators to execute their growth plans without tying up their own balance sheets in long-term real estate ownership. This is about providing the foundation for their care delivery.

The company's investment activity reflects this commitment to growth capital deployment:

• Year-to-date through Q3 2025, Omega Healthcare Investors, Inc. completed approximately $978 million in new investments.
• In Q3 2025 alone, new investments totaled approximately $151 million.
• This Q3 deployment included $67 million in real estate acquisitions and $8 million in real estate loans.
• The pipeline for the remainder of 2025 and into 2026 is described as very favorable.

Triple-net lease structure transfers property operating risk to the tenant

The primary structure Omega Healthcare Investors, Inc. uses is the triple-net lease. This means the tenant operator assumes responsibility for property-level expenses, which is a key de-risking factor for the REIT. This structure helps ensure a more predictable rental stream for Omega Healthcare Investors, Inc. shareholders.

The strength of the underlying operator base directly supports this value proposition:

• Trailing 12-month operator EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization, and Rent) coverage for the core portfolio rose to a healthy 1.55x as of Q3 2025.
• The portion of rent with coverage below 1x dropped to 4.3%.
• The company has no scheduled material lease expirations until 2027.

Diversified portfolio across 42 US states and the UK reduces single-market risk

You get exposure to a geographically broad base of essential healthcare real estate, which smooths out regional economic or regulatory volatility. This diversification is a cornerstone of the investment thesis.

Here's a look at the scale and spread of the portfolio as of September 30, 2025:

Metric	Value as of 9/30/2025
Gross Real Estate Investments	$11.4 billion
Total Properties (US & UK)	1,024
Geographic Footprint	42 US States and the UK
Third-Party Operators	88

Furthermore, Omega Healthcare Investors, Inc. maintains operator diversification, with no single operator accounting for 10% or more of total rent/interest as of 9/30/2025. That's defintely important for stability.

Predictable, high-yield income stream for investors

The goal is to deliver consistent, high-yield cash distributions, supported by the predictable lease revenue. The company's guidance and quarterly results show this stream is growing.

Key income metrics from the third quarter of 2025:

• Funds Available for Distribution (FAD) for Q3 2025 was $231 million, or $0.75 per diluted share.
• Adjusted Funds From Operations (AFFO) for Q3 2025 was $243 million, or $0.79 per diluted share.
• The dividend payout ratio to AFFO for the quarter was 85%.
• Full-year 2025 AFFO guidance was raised to a range of $3.08 to $3.10 per diluted share.

Flexibility in investment structures, including real estate and mortgage loans

Omega Healthcare Investors, Inc. is not limited to just buying and leasing properties; they use a broader toolkit to seek accretive returns, including debt and equity investments. This flexibility allows them to capture higher yields when real estate opportunities are priced too tightly.

Recent examples of this expanded structure include:

• A $222 million acquisition in October 2025 for a 49% equity interest in a 64-facility portfolio with Saber Healthcare.
• A $93 million commitment for a 9.9% equity stake in Sabre Healthcare Holdings' operating company.
• In Q3 2025, the company funded $8 million in real estate loans with a weighted average interest rate of 10.0%.

Omega Healthcare Investors, Inc. (OHI) - Canvas Business Model: Customer Relationships

Omega Healthcare Investors, Inc. (OHI) views its operator relationships as long-term partnerships, fundamentally anchored by contractual obligations but actively managed to ensure mutual sustainability.

Long-term, contractual relationships via master lease agreements form the backbone of the structure. These are not simple leases; they are complex, multi-facility master lease agreements that often span decades. For instance, the LaVie master lease, after its tenant's reorganization, was assigned to ENDMT LLC ("Avardis") with a lease term extending through December 31, 2037, featuring annual rent escalators of 2.5%. This long duration provides revenue visibility, which is key for a Real Estate Investment Trust (REIT).

The relationships are tested during operator financial stress, which necessitates active portfolio management and operator support. You saw this play out with Genesis Healthcare, Inc., which filed for Chapter 11 bankruptcy protection on July 9, 2025. Omega responded by providing $8.0 million in debtor-in-possession (DIP) financing to keep operations going. Even while in bankruptcy, Genesis paid its full contractual rent in October 2025, covering the $52 million annual rent obligation across the thirty-one facilities covered by Omega's lease. This proactive support is part of the capital partner approach, not just being a passive landlord.

The commitment to being a capital partner approach, not just a passive landlord, is evident in Omega Healthcare Investors, Inc.'s evolving investment toolkit. Instead of only traditional triple-net leases, the company is increasingly using joint ventures and minority investments to support growth. In Q3 2025, Omega completed a $222 million acquisition for a 49% equity interest in an entity holding 64 facilities with Sabre Healthcare. Furthermore, as of late 2025, Omega has a pending commitment of $93 million for a 9.9% equity stake in Sabre Healthcare Holdings, which is structured to provide minimum quarterly cash distributions equivalent to an annualized yield of 8% on that investment.

The focus is definitely focused on maintaining high EBITDAR coverage with operators, as this metric is the primary indicator of tenant health and rent-paying ability. The Investor Relations team provides detailed quarterly financial reporting to track this. For the core portfolio, the trailing 12-month operator EBITDAR coverage climbed to 1.55x as of Q3 2025, which management noted was the highest level in 12 years. The percentage of total rent coming from operators with coverage below 1x has shrunk significantly, dropping to just 4.3% of total rent. This focus on coverage directly supports the company's financial guidance, with the raised 2025 Adjusted Funds From Operations (AFFO) guidance midpoint at $3.09 per share, representing 8% year-over-year growth versus 2024 AFFO of $2.87 per share.

The investor relations function translates this operational strength into clear financial metrics for stakeholders. For the third quarter ended September 30, 2025, Omega reported Adjusted Funds From Operations (AFFO) of $0.79 per diluted share and Funds Available for Distribution (FAD) of $0.75 per diluted share. This led to a reduction in the FAD dividend payout ratio to 89% for the quarter.

Here's a look at the portfolio composition and the resulting coverage metrics as of the latest reporting periods:

Metric	Value/Period	Source Data Point
Total Core Facilities (Q3 2025)	1,024	Core Portfolio Size
Portfolio Split: SNF/Transitional Care	60%	U.S. Skilled Nursing/Transitional Care percentage
Portfolio Split: Senior Housing/U.K. Care Homes	40%	U.S. Senior Housing/U.K. Care Homes percentage
Core Portfolio TTM EBITDAR Coverage (Q3 2025)	1.55x	Trailing 12-month coverage for core portfolio
Rent from Operators Below 1x Coverage (Q3 2025)	4.3%	Percentage of total rent from operators with coverage below 1x
Sabre Portfolio Rent Coverage (Oct 2025)	Exceeded 1.46x	Specific coverage metric for Sabre portfolio
Total Real Estate Investments (as of 9/30/2025)	$11.4B	Total Real Estate Investments value

The relationships are managed across a broad base of operators, with Omega partnering with 88 regional and national healthcare providers in the U.S. and U.K. as of September 30, 2025. The company is clearly signaling a preference for operators who can demonstrate strong financial performance, as evidenced by the continuous improvement in coverage ratios and the resulting raised 2025 AFFO guidance to $3.08 to $3.10 per share.

You should review the Q4 2025 pipeline details to see how the new joint venture structures are progressing against the traditional master lease renewals.

Omega Healthcare Investors, Inc. (OHI) - Canvas Business Model: Channels

You're looking at how Omega Healthcare Investors, Inc. (OHI) gets its deals done and communicates with the market as of late 2025. It's a mix of direct team effort, public financing, and deep industry relationships. Here's the breakdown of their Channels block.

Direct Investment Team for Sourcing and Underwriting New Acquisitions

The internal team is clearly busy, driving significant capital deployment through various structures. Year-to-date through the third quarter of 2025, Omega Healthcare Investors, Inc. completed $978 million in new real property and loan investments. This channel isn't just about traditional buys; it involves structuring complex deals, like the October 2025 joint venture with Saber Healthcare Holdings, LLC, where OHI acquired a 49% equity interest in an entity holding 64 facilities for $222 million. Furthermore, they are actively expanding their toolkit, noting an agreement in October 2025 to acquire a 9.9% equity interest in Saber's operating company for a committed cash consideration of $92.6 million.

Here's a look at the investment deployment through the first three quarters of 2025:

Period Ending	Real Estate Acquisitions ($M)	Real Estate Loans ($M)	Total New Investments ($M)
March 31, 2025 (Q1)	58.303	20.047	78.350
June 30, 2025 (Q2)	502.057	25.000	527.057
September 30, 2025 (Q3)	67.000	8.000	151.000

The weighted average initial annual cash yield on new real property and loan investments year-to-date through Q2 2025 was 10.0% with escalators between 2.0% and 2.5%.

Public Capital Markets (NYSE: OHI) for Common Stock and Debt Issuance

Omega Healthcare Investors, Inc. actively uses the public markets to fund growth and manage its balance sheet. They closed a new senior unsecured credit facility totaling $2.3 billion in September 2025, which replaced the previous $1.45 billion facility. This move provided increased funding flexibility and helped manage maturities. They also issued $600 million of 5.2% senior unsecured notes due in 2030 during the second quarter of 2025, which were subsequently redeemed at par value on October 15, 2025.

Equity issuance channels were used to raise capital for investments:

• Q1 2025: Issued 7 million common shares for gross proceeds of $264 million.
• Q2 2025: Issued 7 million common shares for gross proceeds of $258 million.
• Q3 2025: Issued 2 million common shares for gross proceeds of $89 million.

As of the quarter ended September 30, 2025, the Long-Term Debt & Capital Lease Obligation stood at $4,995 million, against Total Stockholders Equity of $5,036 million, resulting in a Debt-to-Equity ratio of 0.99.

Investor Relations Website and Quarterly Conference Calls

Communication with the investment community is channeled through regular, scheduled events and a dedicated website section. Omega Healthcare Investors, Inc. reported its third quarter 2025 results on October 30, 2025, following a press release and an announced conference call date of October 3, 2025. The second quarter 2025 earnings conference call took place on Friday, August 1, 2025, at 10 a.m. Eastern Time. The Investor Relations page on the Omega Healthcare Investors website serves as the hub for accessing News & Events, Financial Info, Stock Data, Dividends, and SEC Filings. As of December 4, 2025, the common stock was trading at $46.197 with a volume of 448.53k shares. The company increased its full-year 2025 Adjusted FFO guidance to a range of $3.08 to $3.10 per diluted share.

Real Estate Brokers and Industry Contacts for Deal Flow

While the direct team underwrites, the initial deal flow is sourced through established industry networks, focusing on the long-term healthcare sector across the U.S. and the U.K. As of September 30, 2025, Omega Healthcare Investors, Inc. served 88 Operators across 1,024 Properties in 42 States and 1 Foreign Country. Management described the investment pipeline as very active. The company's strategy involves leveraging its strong balance sheet and cost of capital to pursue accretive investments. The portfolio metrics show strong operator health, with trailing 12-month operator EBITDAR coverage for the core portfolio increasing to 1.55x.

Direct Negotiation with Existing Operators for Portfolio Expansion

A key channel involves direct negotiation and partnership with existing operators to expand or restructure the portfolio. This is evident in the company's shift toward non-traditional structures like joint ventures and minority equity stakes.

Examples of direct operator engagement in 2025 include:

• The $222 million October 2025 transaction with affiliates of Saber Healthcare Holdings, LLC, resulting in a 49% equity ownership in 64 facilities leased back to Saber subsidiaries, generating $69.4 million in annual contractual rent.
• In Q2 2025, $158 million was invested to acquire 12 facilities (8 SNFs, 4 ALFs) leased to two existing operators and two new operators.
• In April 2025, $344 million was invested in 45 care homes across the U.K. and Jersey, leased to four existing operators and two new operators.
• Regarding distressed assets, Omega provided $8.0 million in debtor-in-possession financing to Genesis Healthcare, Inc. after its Chapter 11 filing on July 9, 2025, with the condition that Genesis pay full contractual rent. Genesis made all required contractual rent and interest payments in Q3 2025.

Omega Healthcare Investors, Inc. (OHI) - Canvas Business Model: Customer Segments

You're looking at the core groups Omega Healthcare Investors, Inc. (OHI) serves, which are primarily the operators of the facilities they finance, and the investors who provide the capital. Here's the quick math on who those customers are as of late 2025, based on the latest filings.

Operator Segments: Facility Operators

The primary customer base consists of operators who need long-term capital structures for their physical assets. Omega Healthcare Investors, Inc. focuses on senior healthcare facilities across the US and the United Kingdom. As of September 30, 2025, the portfolio breakdown shows the scale of this segment:

• Total Properties: 1,024
• Total Beds: 93,159
• Geographic Footprint: 42 states, the District of Columbia, and the U.K.
• Number of Third-Party Operators: 88

The portfolio is structured to mitigate concentration risk with its operators. As of September 30, 2025, no single operator accounted for more than 10% of total rent/interest.

The facility types served include both Skilled Nursing Facilities (SNF) and Assisted Living Facilities (ALF), with recent acquisitions showing activity in both US and UK markets. For example, in the third quarter of 2025, Omega Healthcare Investors, Inc. acquired two facilities, one being a U.K. care home. Also in Q3 2025, one U.S. real estate acquisition was completed for $58.6 million. Post-quarter end in October 2025, a major joint venture involved 64 facilities, which are leased to SABR under long-term triple-net leases.

Portfolio Metric (as of 9/30/2025)	Value	Notes
Gross Real Estate Investments	$11.4 billion	Total asset value on the balance sheet
UK Facilities Count	At least 1	One UK facility acquired in Q3 2025
Q3 2025 US Real Estate Acquisition	$58.6 million	One facility in New Jersey
New JV Facilities Count (Oct 2025)	64	Part of a 49% equity interest acquisition

Omega Healthcare Investors, Inc. also engages in real estate loan investments. In Q2 2025, the Company funded $25 million in mortgage and other real estate loans with a weighted average interest rate of 10.0%.

Investor Segments: Capital Providers

The second major customer group is the investment community, which provides the equity capital necessary for Omega Healthcare Investors, Inc.'s acquisitions. This group is segmented into institutional and retail investors.

For institutional investors seeking stable, dividend-paying REIT exposure, the recent activity shows significant capital flow:

• Amount of Institutional Buying (Last 6 Months): $3.9B
• Current Institutional Ownership Percentage: 115.52%
• Leverage Ratio (Post Q3 2025 activity): Down to approximately 3.59x

Retail investors are drawn to the income stream, which Omega Healthcare Investors, Inc. has consistently delivered. The company has 21 consecutive years of dividend payments.

Financial Metric (Late 2025)	Value	Context
Dividend Yield	5.85%	Dividend Grade B+
2025 AFFO Guidance (Midpoint)	$3.09 per diluted share	Implies roughly 8% year-over-year AFFO growth
Q3 2025 Adjusted FFO per Share	$0.79 or $0.77	Depending on specific calculation basis
Dividend Payout Ratio (as % of AFFO)	About 85%	As of Q3 2025

Healthcare Companies Needing Sale-Leaseback Transactions

While the specific number of sale-leaseback transactions as a distinct customer segment isn't explicitly quantified separately from general acquisitions, the core business model involves acquiring real estate and leasing it back to operators. The $502 million in real estate acquisitions completed in Q2 2025, for instance, aligns with this need for capital deployment against existing assets. The strategy prioritizes long-term leases with fixed-rate escalators, which is the structure used in these transactions.

Omega Healthcare Investors, Inc. (OHI) - Canvas Business Model: Cost Structure

You\'re looking at the expenses that drive the operations for Omega Healthcare Investors, Inc. (OHI) as of late 2025. For a Real Estate Investment Trust (REIT) like OHI, the cost structure is heavily weighted toward financing and maintaining its massive portfolio.

Interest expense on debt, including the new $2.3 billion credit facility is a major component. As of September 30, 2025, Omega Healthcare Investors, Inc. had $5.0 billion in outstanding indebtedness, carrying a weighted average annual interest rate of 4.6% on that total debt. This debt profile was recently refreshed by closing a new $2.3 billion senior unsecured credit facility in September 2025, which replaced the previous $1.45 billion revolving credit facility. This new package includes a $2.0 billion four-year revolving credit facility and a $300.0 million three-year delayed draw term loan facility. Furthermore, Omega Healthcare Investors, Inc. proactively managed liabilities by repaying $600 million of senior unsecured notes at par value on October 15, 2025.

General and administrative (G&A) expenses are projected with some precision for near-term planning. The initial 2025 guidance assumed quarterly G&A expense would run between $12 million to $14 million. However, for the fourth quarter of 2025, management projected this expense to be between $13.5 million to $14.5 million.

Here's a quick look at those G&A projections:

Period	Low Estimate	High Estimate
Initial 2025 Quarterly Guidance	$12 million	$14 million
Projected Q4 2025	$13.5 million	$14.5 million

Property-related costs during operator transitions or restructurings are variable but material. For the third quarter ended September 30, 2025, the reported Acquisition, merger and transition related costs were $6,437 (presumably in thousands, based on context). During that same quarter, the company also recorded $1,144 (likely in thousands) for Impairment on real estate properties. These costs are a direct reflection of the active portfolio management, which includes dealing with operators like Genesis Healthcare, which filed for Chapter 11 bankruptcy.

While specific line items for professional fees are not explicitly broken out in the latest reports, these costs are inherently part of the investment process. The due diligence and legal work associated with closing $978 million in new investments year-to-date through October 2025 would certainly involve significant professional fees. These fees are part of the overall expense associated with acquiring assets, such as the $222 million total consideration for the 49% equity interest in the Saber Healthcare Holdings, LLC joint venture in October 2025.

Finally, the cost of rewarding shareholders through dividend payments is a fixed commitment for Omega Healthcare Investors, Inc. The Board declared a cash dividend of $0.67 per share for the third quarter of 2025, payable on November 17, 2025. This translates to a dividend payout ratio of 89% based on Funds Available for Distribution (FAD) for Q3 2025.

The key cost drivers are:

• Interest expense on $5.0 billion of debt at a 4.6% weighted average rate.
• Projected Q4 2025 G&A expense between $13.5 million and $14.5 million.
• Variable transition costs, such as Q3 2025 Acquisition, merger and transition related costs of $6,437 (in thousands).
• A regular quarterly cash dividend of $0.67 per share.

Omega Healthcare Investors, Inc. (OHI) - Canvas Business Model: Revenue Streams

You're looking at the core ways Omega Healthcare Investors, Inc. brings in money as of late 2025. The company's revenue structure is built on real estate cash flow, supplemented by lending and investment gains.

For the third quarter of 2025, Omega Healthcare Investors, Inc. reported total revenue of $312 million. This compares to revenue of $276 million for the third quarter of 2024.

Rental income from triple-net master leases (primary source)

The bulk of Omega Healthcare Investors, Inc.'s revenue comes from rental payments under triple-net master leases. This is the bedrock of the business model, representing predictable, long-term cash flow from its portfolio of senior care facilities.

Specific rental streams include:

• The Genesis lease covers thirty-one facilities, representing $52 million in annual rent.
• Maplewood paid $18.7 million in rent during the third quarter.

Interest income from real estate mortgage loans and secured loans

Omega Healthcare Investors, Inc. also generates income by acting as a lender, providing mortgage and other real estate-backed loans to operators. This provides a yield component to the overall revenue mix.

Recent activity in this area includes:

• In the second quarter of 2025, the company funded $24.8 million in mortgage and other real estate loans with a weighted average interest rate of 10.0%.
• In the third quarter of 2025, Omega invested $84 million in real estate loans across 4 separate transactions, carrying an interest rate of 10%.
• These loan investments sometimes include an option for Omega to acquire an ownership interest in the underlying real estate upon refinancing.

Income from joint venture equity investments, like the Saber JV

Omega Healthcare Investors, Inc. is actively diversifying into deeper equity partnerships, such as joint ventures, which can offer higher potential returns than pure real estate ownership or lending. This involves sharing in both the cash flow and the upside of the underlying operations.

The recent Saber Healthcare partnership is a prime example of this revenue stream:

• Omega invested $222 million in October 2025 for a 49% equity stake in a real estate joint venture holding 64 facilities.
• These 64 facilities are leased to Saber and generate $69.4 million in contractual rent per annum.
• Omega anticipates receiving an initial annual return on this investment of 9.3%.
• The company also entered an agreement for a 9.9% equity interest in Saber's operating company for $92.6 million, expecting an 8% minimum quarterly cash yield.

Proceeds from accretive asset sales and dispositions

Selling assets, especially those sold at a gain, provides non-recurring income that can be redeployed into new, accretive investments. These sales are considered part of the active portfolio management that supports overall revenue and earnings growth.

For the third quarter of 2025, Omega Healthcare Investors, Inc. reported:

Metric	Amount
Total Asset Sales Proceeds (Q3 2025)	$81.1 million in cash
Number of Facilities Sold (Q3 2025)	11 facilities
Recognized Gain on Sales (Q3 2025)	$28.2 million
Revenue Recorded from Asset Sales (Q3 2025)	$1.2 million

In the first quarter of 2025, the company sold 27 facilities for $120.9 million in cash.

Here is a look at the key Q3 2025 financial metrics related to revenue generation:

Financial Metric	Q3 2025 Value
Total Revenue	$312 million
Net Income	$185 million
NAREIT FFO	$242 million
Adjusted FFO (AFFO)	$243 million
Funds Available for Distribution (FAD)	$231 million

Finance: draft 13-week cash view by Friday.