Omega Healthcare Investors, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024. For the fourth quarter, revenues totaled $279.3 million, an increase of $40.0 million over the same period in 2023. Full-year 2024 revenues reached $1.1 billion, marking a $101.7 million increase from 2023.
Net income for the fourth quarter was $116.5 million, a $59.9 million increase year-over-year, while full-year net income rose by $169.0 million to $417.8 million. The company reported fourth-quarter funds from operations (FFO) of $0.74 per share, exceeding the average analyst estimate of $0.73 per share.
Omega completed $340 million in new investments during Q4 2024, contributing to a total of $1.1 billion for the full year. These investments included $178.6 million in real estate acquisitions for 12 facilities with initial annual cash yields of 10.0%, and $161.5 million in real estate loans with a weighted-average interest rate of 10.9%.
The company also actively managed its balance sheet, issuing $438 million in equity during 2024 and repaying $400 million of 4.50% senior notes on January 15, 2025. Its $1.45 billion unsecured revolving credit facility and a $50 million term loan were extended to October 30, 2025, enhancing liquidity and financial flexibility.
For 2025, Omega provided Adjusted FFO (AFFO) guidance in the range of $2.90 to $2.98 per diluted share. Operator performance remained solid, with trailing 12-month EBITDAR coverage at 1.51x and occupancy at 81.8% as of December 31, 2024, indicating stable tenant health.
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