Omega Healthcare Investors - McKnight's Senior Living

Omega Healthcare Investors

Ongoing concerns over pandemic recovery leads to NHI, Omega, Sabra downgrades from Mizuho

An analysis released Wednesday from investment banking firm Mizuho Securities USA includes a downgrade of real estate investment trust National Health Investors to “underperform” from “neutral.” The change stems from concerns around the larger senior housing operators in NHI’s portfolio, which either have tight rent coverage or already have been granted rent deferrals.

Business briefs for Friday, Dec. 18

Omega reinstates dividend reinvestment and optional cash purchase … Most companies favor supporting parents of young children over employees who care for aging parents, spouses or other adult loved ones: S&P Global/AARP survey … Long-term care COVID-19 vaccination rollout has begun … Alliant Capital closes on $130M low-income housing tax credit fund that will help create and preserve about 1,100 units of affordable housing for seniors and families across 8 states … JASA Corp. receives $74.5M in FHA Section 223(f) refinancing for New York affordable seniors housing community … Monticello provides $20M in financing for acquisition of SNFs in Kansas and Ohio … Sequoia Living opens senior living community in Walnut Creek, CA

Healthcare professional in protective gloves & workwear holding & organising a tray of COVID-19 vaccine vials. The professional is carrying out researches on COVID-19 vaccine in laboratory.

Vaccine news boosts analysts’ views on skilled nursing; concerns remain around future of seniors housing: Mizuho

As Nareit’s REITworld: 2020 Annual Conference wrapped up last week, analysts at Mizuho Securities USA say they remain positive on the skilled nursing sector given the promising vaccine news, strong government support of the industry and an improving acquisitions outlook. And although the vaccine news also is a major positive for senior housing, analysts also worry that the recent rally in the sector’s stocks may be reflecting a far rosier recovery than likely is to occur, and that the 2021 earnings outlook may disappoint.

Inspir Carnegie Hill East River view

Omega: Pandemic challenges high-rise opening, development, acquisitions

Omega Healthcare Investors and Maplewood Senior Living hope to open their Manhattan high-rise assisted living and memory care community “as soon as possible,” Omega Chief Corporate Development Officer Steven Insoft said Friday on the real estate investment trust’s third-quarter earnings call. Executives also discussed the effects of the pandemic on development and acquisitions.

Omega beats analysts’ expectations; benefits from government’s support of long-term care

Omega Healthcare Investors exceeded the expectations of some analysts in the third quarter, reporting adjusted funds from operations of 82 cents per share in its third-quarter earnings report on Thursday, beating the 79 cents per share predicted by Mizuho Securities USA. The Hunt Valley, MC-based real estate investment trust also benefited from a healthy 99% contractual rent and mortgage payment collections during the third quarter and into October, even despite its previously announced $142 million non-recurring write-down of primarily straight-line receivables and lease inducements related to struggling tenants.

Graphs and a pen

Concerns over skilled nursing REITs ‘overblown’: Mizuho

The qualified audits of skilled nursing operators Genesis Healthcare and Signature Healthcare have raised concern about the sector among some investors. But one investment banking firm is predicting strong third-quarter earnings for skilled nursing focused real estate investment trusts such as Omega Healthcare Investors and Sabra Health Care REIT. That’s according to an analysis in GlobeSt.com this week.

‘Going concern’ doubts raised by Genesis, Signature prompt write-down by Omega, potential write-off by Sabra

Omega Healthcare Investors announced Thursday that it will move to a cash-basis accounting method for tenants Genesis Healthcare and Agemo Holdings LLC (f/k/a Signature Healthcare). The move comes as Omega was informed by the two firms of doubt regarding their ability to continue as a “going concern” in relation to the uncertainty around future cash flows caused by the COVID-19 pandemic.

worker helping man with walker

Motley Fool: Omega’s SNF-focused portfolio may buffer it from pandemic fallout — or will it?

Historically, investors have often viewed independent and assisted living communities — most often paid for out-of-pocket by residents — as safer bets than skilled nursing facilities, which generally are paid for via government programs such as Medicare and Medicaid. So they encouraged operators in their senior housing portfolios to engage in efforts to attract private-pay residents. The COVID-19 pandemic may be turning that assumption on its head, according to an article published Thursday by The Motley Fool. This could be good news SNF-focused real estate investment trust Omega Healthcare Investors.

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