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Real estate investment trusts

Omega Healthcare Investors Announces Record Results for Second Quarter 1995

Strategic Insights

— 1 min read

Omega Healthcare Investors, Inc. today announced record results for the second quarter ended June 30, 1995, with significant improvements in total assets, revenues, net earnings, and funds from operations. The company's focus on the long-term care industry has yielded impressive results, with its portfolio consisting of 181 health care facilities across 19 states, operated by 20 independent healthcare operating companies. CEO Essel W. Bailey, Jr. expressed confidence in the company's outlook for the rest of 1995, citing steadily increasing cash flows and exciting investment prospects.

Key Takeaways:

  • Total assets reached $505 million as of June 30, 1995, a notable increase from previous periods.
  • Funds from operations for the second quarter 1995 were $10,851,000 or $0.68 per share, a significant improvement from $5,517,000 or $0.57 per share in the comparable period of 1994.
  • Revenues for the 1995 second quarter were $14,701,000, compared to $8,132,000 for the 1994 second quarter.
  • Average shares outstanding increased to 15.9 million shares as compared to 9.7 million shares for the 1994 second quarter.
  • For the six months ended June 30, 1995, funds from operations were $21,434,000 or $1.35 per share, compared to $9,746,000 or $1.19 per share for the same period in 1994.
  • Omega's Board of Directors declared a regular quarterly dividend of $0.59 per share to be paid August 15, 1995, to shareholders of record on August 2, 1995.
  • CEO Essel W. Bailey, Jr. highlighted the company's strong portfolio performance, increasing tenant lease renewals, and positive outlook for the remainder of 1995.

Statistics:

  • Total assets: $505 million (as of June 30, 1995)
  • Funds from operations: $10,851,000 or $0.68 per share (for the second quarter 1995)
  • Revenues: $14,701,000 (for the 1995 second quarter)
  • Average shares outstanding: 15.9 million (as of June 30, 1995)
  • Six-month funds from operations: $21,434,000 or $1.35 per share (for the six months ended June 30, 1995)
  • Net earnings: $14,052,000 ($0.89 per share) (for the six months ended June 30, 1995)
  • Dividend payout: $2.36 (anticipated for the calendar year 1995)

Sources:

  • Omega Healthcare Investors, Inc. press release (July 18, 1995)
  • Omega Healthcare Investors, Inc. financial statements (June 30, 1995)

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