Omega Healthcare Investors reported Q3 2025 earnings, posting net income of $185 million and adjusted funds from operations of $0.79 per diluted share, up from $115 million and $0.74 per share in Q3 2024. The company’s operating performance reflected higher occupancy and improved coverage across its portfolio.
The company closed a new $2.3 billion senior unsecured credit facility on September 30 2025, replacing a $1.45 billion facility. The new facility consists of a $2.0 billion revolving credit line and a $300 million delayed‑draw term loan. On October 15 2025, Omega repaid $600 million of senior unsecured notes due 2026, reducing its debt‑to‑equity ratio to 1.00.
Omega raised its full‑year 2025 adjusted FFO guidance to $3.08–$3.10 per diluted share, up from the prior $3.04–$3.07 range. Management cited strong quarterly results, higher occupancy, and a robust investment pipeline as drivers of the upgrade.
Year‑to‑date, the company completed $978 million in new investments, including a $67.3 million acquisition of two facilities and a $75.6 million portfolio of mortgage loans. In October 2025, Omega entered a joint‑venture with Saber, acquiring a 49% equity interest in a 64‑facility portfolio for $222 million in equity units. The joint‑venture carries $448.6 million of non‑recourse debt and is expected to generate $69.4 million in contractual rent annually, with 49% of available cash distributed monthly to Omega.
The company declared a quarterly cash dividend of $0.67 per share, payable November 17 2025, marking 23 consecutive years of dividend payments. Management noted that Genesis Healthcare continues to meet its contractual rent and interest obligations despite its Chapter 11 bankruptcy filing.
Omega’s strategy focuses on de‑leveraging its balance sheet while maintaining a disciplined investment pipeline and expanding its footprint in the U.K. care‑home market through operator partnerships.
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