Omega Healthcare reports Q3 nareit FFO 63c, consensus 70c

Reports Q3 revenue $242M, consensus $247.07M. Taylor Pickett, Omega’s Chief Executive Officer, stated, “Our third quarter financial performance exceeded our expectations on higher-than-expected interest income and unanticipated rent payments from some operators on a cash-basis. Subsequent to the quarter end, we sold 29 Florida assets operated by LaVie. We also further strengthened our balance sheet in the third quarter by issuing a $429 million term loan, fixed at 5.6%, and repaying $350 million of bonds that matured in August. With over $600 million of cash on hand as of November 1st and over $1.4 billion available under our line of credit at the end of the quarter, we are well-positioned to fund both the pipeline and future debt obligations.”