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Press Release: Omega Reports Fourth Quarter 2020 -5-

· 02/04/2021 16:30
Revenue by Investment Type Three Months Ended Year Ended December 31, 2020 December 31, 2020 ------------------------ ----------------------- Rental property (1) $ 224,338 85% $ 741,848 84% Real estate tax and ground lease income 3,089 1% 12,612 1% Mortgage notes 24,044 9% 89,422 10% Other investment income and miscellaneous income - net 12,314 5% 48,499 5% ---------- ---- ---------- --- $ 263,785 100% $ 892,381 100% Revenue by Facility Type Three Months Ended Year Ended December 31, 2020 December 31, 2020 ------------------------ ----------------------- SNFs/Transitional care $ 211,197 80% $ 710,255 80% Senior housing 37,185 14% 121,015 14% Real estate tax and ground lease income 3,089 1% 12,612 1% Other 12,314 5% 48,499 5% ---------- ---- ---------- --- $ 263,785 100% $ 892,381 100% ________________________ (1) Includes one asset under a direct financing lease totaling $0.3 million and $1.0 million for the three and twelve months ended December 31, 2020, respectively. As of 2020 Q4 % of Total December 31, 2020 Annualized Annualized Rent/Interest Concentration by Operator ($000's) # of Contractual Contractual Properties (1) Rent/Interest (1)(2) Rent/Interest --------------- -------------------- --------------- Ciena 65 $ 96,732 10.1% Consulate 80 86,253 9.0% CommuniCare 45 62,786 6.5% Genesis 51 61,904 6.4% Maplewood 15 59,011 6.1% Saber 54 55,382 5.8% Agemo 54 51,611 5.4% HHC 44 37,391 3.9% Guardian 35 36,326 3.8% Nexion 45 32,630 3.4% RemainingAs of December 31, 2020 ----------------------------------------------------------- Total # of # of Balance Sheet Data Total # of Investment % of Operating Operating Properties Properties ($000's) Investment (2) Beds (2) ---------- ---------- ------------ ---------- --------- Real estate investments (1) 883 $8,712,918 91% 892 89,609 Mortgage notes receivable 62 885,313 9% 57 6,173 ---------- --------- ----- ---------- --------- 945 $9,598,231 100% 949 95,782 Assets held for sale 22 81,452 ---------- --------- Total investments 967 $9,679,683 As of December 31, 2020 ------------------------------------------------------------------------ Total # of # of Investment Investment Data Total # of Investment % of Operating Operating per Bed Properties Properties ($000's) Investment (2) Beds (2) ($000's) ---------- ---------- ------------ ---------- --------- ----------- SNFs/Transitional care 813 $7,975,076 83% 820 87,694 $ 91 Senior housing (3) 132 1,623,155 17% 129 8,088 $ 201 ---------- --------- ----- ---------- --------- 945 $9,598,231 100% 949 95,782 $ 100 Assets held for sale 22 81,452 ---------- --------- Total investments 967 $9,679,683 ________________________ (1) Includes one asset under a direct financing lease totaling $10.8 million. (2) Excludes facilities which are non-operating, closed and/or not currently providing patient services. (3) Includes ALFs, memory care and independent living facilities.(1) Straight-line accounts receivable write-off recorded as a reduction to Rental income.

NAREIT Funds From Operations ("NAREIT FFO"), Adjusted FFO and Funds Available for Distribution ("FAD") are non-GAAP financial measures. For purposes of the Securities and Exchange Commission's Regulation G, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position or cash flows that exclude amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable financial measure calculated and presented in accordance with GAAP in the income statement, balance sheet or statement of cash flows (or equivalent statements) of the company, or include amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable financial measure so calculated and presented. As used in this press release, GAAP refers to generally accepted accounting principles in the United States of America. Pursuant to the requirements of Regulation G, the Company has provided reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures.

The Company calculates and reports NAREIT FFO in accordance with the definition and interpretive guidelines issued by the National Association of Real Estate Investment Trusts ("NAREIT"), and consequently, NAREIT FFO is defined as net income (computed in accordance with GAAP), adjusted for the effects of asset dispositions and certain non-cash items, primarily depreciation and amortization and impairments on real estate assets, and after adjustments for unconsolidated partnerships and joint ventures and changes in the fair value of warrants. Adjustments for unconsolidated partnerships and joint ventures will be calculated to reflect funds from operations on the same basis. The Company believes that NAREIT FFO, Adjusted FFO and FAD are important supplemental measures of its operating performance. Because the historical cost accounting convention used for real estate assets requires depreciation (except on land), such accounting presentation implies that the value of real estate assets diminishes predictably over time, while real estate values instead have historically risen or fallen with market conditions. The term funds from operations was designed by the real estate industry to address this issue. Funds from operations described herein is not necessarily comparable to funds from operations of other real estate investment trusts, or REITs, that do not use the same definition or implementation guidelines or interpret the standards differently from the Company.

Adjusted FFO is calculated as NAREIT FFO excluding the impact of non-cash stock-based compensation and certain revenue and expense items (e.g., acquisition, merger and transition related costs, provisions for uncollectible accounts, provisions for current expected credit losses, severance, etc.). FAD is calculated as Adjusted FFO less non-cash interest expense and non-cash revenue, such as straight-line rent. The Company believes these measures provide an enhanced measure of the operating performance of the Company's core portfolio as a REIT. The Company's computation of Adjusted FFO and FAD may not be comparable to the NAREIT definition of funds from operations or to similar measures reported by other REITs, but the Company believes that they are appropriate measures for this Company.

The Company uses these non-GAAP measures among the criteria to measure the operating performance of its business. The Company also uses FAD among the performance metrics for performance-based compensation of officers. The Company further believes that by excluding the effect of depreciation, amortization, impairments on real estate assets and gains or losses from sales of real estate, all of which are based on historical costs and which may be of limited relevance in evaluating current performance, funds from operations can facilitate comparisons of operating performance between periods and between other REITs. The Company offers these measures to assist the users of its financial statements in analyzing its operating performance and not as measures of liquidity or cash flow. These non-GAAP measures are not measures of financial performance under GAAP and should not be considered as measures of liquidity, alternatives to net income or indicators of any other performance measure determined in accordance with GAAP. Investors and potential investors in the Company's securities should not rely on these non-GAAP measures as substitutes for any GAAP measure, including net income.

The following tables present selected portfolio information, including operator and geographic concentrations, and lease and loan maturities:

Revenue Composition ($000's)

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February 04, 2021 16:30 ET (21:30 GMT)