Earnings call transcript Q2 2023

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, ladies and gentlemen, and welcome to the Omega Healthcare Investors Incorporated Second Quarter Earnings Conference Call. All lines have been placed on a listen-only mode and the floor will be open for questions and comments following the presentation. [Operator Instructions]

At this time, it is my pleasure to turn the floor over to your host, Michele Reber. Ma'am, the floor is yours.

on are you think mute. I

Michele Reber

of good Thank Omega's Megan me President are With Taylor you, Krull, Pickett; Vice Stephenson; and CEO, Bob COO, today CFO, morning. Dan Operations. Senior Booth;

generally. or conference and or Comments made may forward-looking operators, prospects restructuring, projections, of such statements rent that portfolio financial dispositions not statements our policy, historical our be regarding call transitions as dividend today business facts are payments, outlook and this our on portfolio financial contemplated condition

statements and Please may actual our those events statements. or filings risks forward-looking on results report Form to Exchange materially press described differ our a in to forward-looking cause These which may limitation on and XX-K, involve uncertainties, and including actual Securities differ see with from that which cause results without recent factors Commission, identify materially. the releases specific

of we During the accepted such adjusted as FFO, as NAREIT issued release. at FFO, measures, non-GAAP the to the these explanation well accounting of in www.omegahealthcare.com call usefulness measures and our financial the and of today, some under non-GAAP generally as comparable Reconciliations measure non-GAAP FAD will the section FFO, recently the principles refer EBITDA. of most under and measures are website FFO NAREIT case in Financial Information our an adjusted available of press to

been that not information discuss based is has provided verified financial our we coverage that addition, and operators operator In certain on data by by independently Omega.

call will over Taylor. now to I turn the

Taylor Pickett

second results certain for Thanks, discuss call. second I quarter financial Michele. our XXXX and joining our conference you trends. Today, Good operating and earnings will key thank morning quarter

$X.XX quarter per $X.XX available comfortably of per of the significantly $X.XX funds exceeded share FAD, per quarter our for share, ahead distribution dividend. share of Second first

in primarily and in April partial FAD cash results rent FAD June, operator The in payout to a increase full operators. resumption or in The rent in $X.XXX May basis and paid rent ratio is due in from increase the increase is FAD One large dividend XX%. LaVie which quarter-over-quarter.

still we When of X.X FAD partial we a million QX. cash being rents upon rent reduce Dan which from discuss, significant the As is QX restructured is $X.XXX will agreed to completed, partial LaVierestructuring by the third to expect have LaVie and from for quarter, current rent per increase the month payments. in will payments agreed

issued on In future we pressure X.X common put FAD million will pipeline of modest to delever. addition, fund stock during second These our additional per the shares and our shares quarter, some share.

Turning to trends. positive operating

We increasing rent. support, CARES total market. The and rates X.XXx XX.X% into the handful break of excluding versus quarter to improvement, strong the quarter. under difficult of of buckets. still operators X.XXx in moderation prior improve, represent continued to coverage, First a coverage XX.X% EBITDAR reimbursement in continues EBITDAR state the level Act reflects occupancy X.Xx labor This can

excluding Operators are balance X.X% coverage representing rent payment Operators transition first XX facilities anticipated X.X% sheets EBITDAR of is quarter representing issue. at EBITDAR sitting on extremely when strong represents sale should above above not of these the the X.Xx. an XX.X% therefore quarter with X.Xx, X.X% coverage, be first of also and or

$X.X That Bob. in were sees turn are a X.X% operating where which recently the I lease X.X% million restructurings now balance conditioned, operators call will representing operators active the to of which small of representing relationships. representing over

Bob Stephenson

and Taylor, good morning. Thanks,

XXXX. timeframe quarter that XXXX, was partially time, sales quarter. offset results investments adjusting through increase second timing XXXX is for primarily revenue to Revenue instance. compared the asset completed for related to million completed for for in same Turning The operator items quarter new of certain restructurings, from by and second $XXX for of the $XXX the to year-over-year the our second financials million before nonrecurring

share as XXXX. $XXX per second the for share million the FFO quarter $X.XX per or NAREIT Our compared was for of or to $X.XX quarter million second $XXX

FAD and with FAD was quarter, historical FFO outlined million or website. in for our our practices FFO well was as share per release both to systems million financial second our adjusted adjusted per found the $X.XX quarter Our $XXX or supplemental reconciliation net $XXX and several in as to and income $X.XX as excludes our earnings our items share in posted

LaVie. additional quarter FAD for of we cash arrangements weighted timing other FAD. workout $XXX in primarily the by mentioned, increase investments. Taylor revenue was The closed on the This our As shares. In greater new $X.XX $X.XX payments first average and incremental quarter, of second was offset a the from basis by quarter partially second from driven than completion operators million

second investments, to completed produce new interest, incremental in FAD, are in majority the quarter quarter. expected which approximately and rent were $X.X April the third contractual million The or of

number on at revenue projected million is including a have of We cash $X.X basis operators month. for which a LaVie, recognition, per

are received or We our are the deposits to will FAD operators only report security payments cash from extent applied. based

shares our third FAD also impacted average by the approximately increase we million note as that to quarter of proceeds issued million important $XXX It's will for June. outstanding X.X the weighted in be shares in

investments. quarterly For is negatively approximately the impacted our until shares per $X.XXX million FAD back work every cash to by is in put share X issued, new

ratio to consistent payout still normalized our return commentary summary, FAD to FAD we expect XXXX. the a XXs XXs dividend with cover ratio with a XX% QX provided to in to in low payout the high In approximately quarter, last

million to generated million gain issued remain $XXX sheet X.X in second XX. June locks, shares cash million we the with of our leaving million In $XXX in continues at also quarter, for strong. cash million equity, we and terminated $XXX us of which balance $XX Our treasury

used On $XXX sheet used million the repay balance maturity. to August a the cash -- we X, balance we bond

in bond X, maturity. Looking our forward, markets, based million capital on the current active pipeline, $XXX XXXX, April

revenues to our normalized fixed was expect of coverage our continue equity leverage Xs. adjusted in be fixed and XX% X.Xx while X.Xx. We funded billion in the the ratio and at to XX, debt charge low At was markets to $X.X EBITDA in targeting capital opportunistic net June of debt annualize

I'll Dan. over now hand to

Dan Booth

and Bob, good Thanks, morning, everyone.

Kingdom. facilities of These located an Omega XX in XX approximately As of versus operating XXXX, facilities month to within XX States Trailing XX, and portfolio XXXX for with operator increased the trailing across XX, our X.XXx X.Xx March XX,XXX XXX were asset portfolio operators coverage third-party month EBITDAR spread ended of core XX, beds. for XXXX. United as the December June XX had operating period

first in of operators X.XXx federal During as have the quarter, the $XX X.XXx, have million of XXXX to EBITDAR coverage XXXX, the our first federal Trailing stimulus operator for funds. funds, the excluding quarter. compared of month compared benefit the during recorded stimulus to would $X.X XX as increased approximately quarter to million recorded approximately cumulative fourth fourth any quarter during when

March overall favorably fourth has operators. from XXXX of for as without low X.Xx the to our from federal $XX million X.XXx in ended X.XXx to portfolio core stimulus standalone standalone a of the in stimulus for based and of including recover for January XXXX our funds. XX.X% and federal X.XXx, core the and preliminary excluding This coverage federal was reporting of stimulus mid-July XX, of Occupancy core on quarter portfolio XX.X% funds, million XXXX compares the EBITDAR with $X.X continued of our respectively. to

facilities process most selling additional be expected the XX date, restructuring are the mentioned, releaseing Florida. process located previously XX portfolio by have Turning of divested. in of as XXXX. in are LaVie and most fourth matters, in of of Omega LaVie, been of To transferred state portfolio underperforming the transitioning their to which is or to Omega throughout an Currently, facilities, quarter certain facilities,

for second the $X.X by has future transition of to contractual $X.X allow rent quarter to During paid pay million of XXXX, XX% rent partial of facilities, in agreed LaVie LaVie and of short additional In each of month. May XXXX. of April June third and during XX quarter anticipation the rent approximately full million Omega the

Manhattan, first at a believes Avenue cash rate contractual short and of Maplewood June path contractual short month. incorporate the million flow Based census and in rental by working July these the the quarter Maplewood's Greg currently is full and there address forward meet of which January projections, $X second We Smith in on quarter, latest improved Second per Facility anticipated its to Maplewood, Maplewood falls. the rent Maplewood in XXXX. with its are state obligations increases paid to

drew quarter. third million the security applying $X.X deposit be and in In realized a security August, we'll the deposit shortfalls on to we any rental

the restructures. to aforementioned other several Omega restructurings addition and is In various working with on transitions, small operators relatively

of to Turning XX, transaction, a closed Virginia investments, lease $XXX.X on transaction purchase financing. XXXX, in in April million on new XXX.X $XXX West as Omega for mezzanine facilities a consisted four which and million previously million announced

mezzanine rate stack initial X.X% financing XX four capital cash to existing existing in Virginia. currently with operator's master operator with of lease annual escalators. given XX% X.X% an part these The and amended and interest facilities Omega the to facilities the to of West additional an of was bearing yield an same acquisitions, was purchase include the And

as in May XXXX, added announced, to an of existing facility yield with with $XX.X purchased cash Virginia Omega an X.X% initial one master previously facility was operator's additional West Also, X, on million. XX% The annual for lease escalators.

to XX, operator. million mezzanine Omega an Additionally, on $XX existing XXXX, closed loan on June

on interest million $XXX Omega in XXXX, an capital total in of part to $XXX of million new investments $XX new in purchase loan investments, closed term was facilities of closed of expenditures. a in Year-to-date, in mezzanine capital and million on million a The a the capital Pennsylvania. XX rate as XX% XX has second expenditures. stack bears including Omega quarter of five-year including

during million XX Year-to-date, in divested proceeds. XXXX, a total $XX dispositions the total Omega XX to in for second million divested $XX Omega of of for a facilities proceeds. Turning of quarter facilities has

Megan. turn the call to I'll over now

Megan Krull

Thanks, everyone. Dan, good and morning

number in now slightly momentum XX% and fourth from facilities of the XX%, up the with to We occupancy slow see reported continue the core recovered quarter. at positive

by are Additionally, overall that while to XX% Staffing and continuing vary recovered above XX% moderate delaying at persist, shortages yet fully continuing of or have markets. core recovery to facilities occupancy. not

which month for some expense quarter first In consistent still June core XXXX limiting of new XX% in where these admissions offset month the patient our XXXX, to results survey XXX of to that on shortages. a expense persistent after per basis over for at which providers released home of quarter showed Agency while was of remained the helping improvement, Xx nursing day stocking due are it last results show increases. did modest portfolio with

of a the X.X% remaining included X% PDPM X.X% market basket basket basket plus a the setting XXXX or of in rate the slightly better approximately than CMS which This issued net a the leak billion, payment is productivity for for by update forecast well adjustment $X.X On offset X.X% parity rule. error market in net final as market a a rule its adjustment resulting provided increase consisting proposed X.X% as X.X% X% increase adjustment adjustment, recalibrations.

be state certain of on for of while $XX.XX areas, that at COVID to Xst not had October in hoped still what to least X% provided in moving a FMAP exactly permanent And note provided in side, starting to the the included in increase rate a add-on its increases the and direction. for rate we is magnitude up for September Florida the small is certain increase above rate addition Xst. Texas setting starting it right

that increases While meaning all an it indicators, reimbursement a much trend represent somewhat the are Florida large increase, of this and will settings more tying rate rate quality does is in where operators see more measures. based of quality on to states not

increases environment. welcome, done something inflationary tied replace that Assuming is this we never a this in thoughtful fully the to however, manner, it should is

I'll questions. now the call open up for

Operator

[Operator is from Qiu Instructions] ahead. Tao first Go question Berenberg. Our from

Tao Qiu

was surprise $X.XXX positive appreciate step on next for the cut this quarter. the quarter, a the So, LaVie down

and there puts I additional think for few takes next a the are quarter.

and still expectations apply. to deposit security think I below you was have Maplewood

third healthcare I help higher. shared FAD rent one the coming number? us is I'm month of quarter just if think you to there's the reach more county wondering from homes. on The could

Bob Stephenson

to shares I It's shares. think average did other mentioned acquisitions weighted also in in only the component impact issued some a at, the have Taylor to to revenue I mention the or issued quarter, on the that going Bob, both quarter, you're based modest look and completed incremental so late related then the I and

Tao Qiu

one week X% thanks and the for follow-up, just Florida. earlier And we Medicare we the got comments update about this and Texas

also is California known. I think well pretty

statues, you Carolina, Indiana, states if us terms walk in some XXXX example, you Medicaid Pennsylvania of of those are the wondering rates? other what big reimbursement for through Just could North seeing markets, and your

Megan Krull

got way. to the to But early same setting quite hoping them Yes, they're think we've been yet. Indiana, bit are inflationary the I for, some Medicaid of a finalized that an too our coverages UPL necessarily I that remember in little increase X% in but don't rate somewhere tell. the impact too, Indiana, range, that's think doesn't still X% so

Pennsylvania, I rate July. reduction of a there in little bit actually was think, a

Just hoping the factor, January, to budget reversed increase. again, due a decrease Xst that a was small to January to gets in soon the, way too one rate related there but tell. And they're

so For Pennsylvania, the for increase last they I well had that think set they're year, really large moment. pretty

they're in. that to put And operators supposed a August the that they pushing pushed really most they then least when earlier, and hopeful approved FMAP now, $XX we've haven't North or yet. they state $XX PPE Carolina, has are but get the budget would watching it for They through right get were likely That's get which the been moment, they've been the but happen. that that's thought to think they because at have to, they what they add-on, it's until into out, budget, of trying rate. They finalize their at the

Operator

you. Thank

please As one question. a and follow-up reminder, one ask

Our Jonathan. Hughes Go next question from comes Raymond from James. Jonathan ahead,

Jonathan Hughes

than I they in pay a some But dig guess, and they more deeper they time more you LaVie. now rent on did ongoing have necessarily rent May paid expected that if hoping been know June. restructuring to? and was was didn't for why has little I could that I

Dan Booth

It cash down they liquid hand anticipated. second in boils than more the a were on little really that bit quarter they to

rent rent And June. so able they and make were for out the May to full -- payment

up. We have coming got transitions some

any their up we a involves that that transitions parties to There a running down no So, lead their with over. a the take Like liquidity occur. expectation lot of going while time is is that. have cash sale, lot those there transition that, until control a they of is and and third go is to

amount. So, third least reduced the right see expectation is quarter, that we rent at for will in that now

Jonathan Hughes

all and or on realize mandate we And Okay. for any that we But follow-up just is, this. waiting my then I now. expectations have still maybe staffing waiting are a months few the updated user on been

think I but of you. the helpful. have we the can be just one would hopefully, end the of there said, operators by it any views Thank month,

Megan Krull

sure have mean, I'm we same at things that hear that moment. Honestly, you ball the we here. crystal the I guys don't

a this hopefully I think don't staffing positive fall yet we ton hasn't out comments CMS has it one that, view that mandate, push the and this, it there come in of a have out should hopefully the this crisis. April fact related come that despite a have in fact of, out as gotten size until to a terms isn't

balanced is as period. to long we rule, will we And there will be be a based keeping. going of But to on to are remember, they out that are have hopeful as any clarity proposed well how when they right, a it's come take put it that, going the But to comment out. come approach still

more beneficial And so, first ACA at very getting has good things of. it out comes than historically been what

Operator

Fargo. Go Siversky question our Wells from you. ahead. Connor Thank next from And comes

Connor Siversky

on Good I this and quantify what would like Dan's call. to you remarks. missed through like Maplewood XXXX the the ramp apologies all morning. from But cash increases? of rent lease flow looks Thanks And I Avenue? year? worded could end if And think for rate dig having much do between into today that see shortfall? much half? in at cover we I How the at from of from that Second up increases the can of mean, would EBITDA potential rate differently, second the how end you the Or me

Taylor Pickett

Yes.

is think to the important. Just, a longer Connor, I just answer, going this relatively because I'm make context

Their flow. excluding Maplewood very if have is portfolio, as Avenue, well. levels. whole, Second at cash They the is occupancy at significant pre-COVID performing you a So, look core

at has positive which look you occupied. Avenue, now It flow is Philip then XX% in cash And pre-rent. Second

cash XXX bottom-line. is incremental to by going So of another that of to flow, from incremental terms resins obviously, occupancy add occupancy just to to of a XX% cash we expect XXX end. the And year that lot in and has power so

typically On the in flip increases side, rate happen January.

impact that the will into the do flow. into So, now you cash a between that end whatever of little and inflationary year have bit cut

difficult rate probably loop of change increase from puzzle, $XXX Maplewood's the is just numbers precise So is it then doesn't to dollar close million. today. about revenue piece to much total we're the million get the But seeing the deficit you on

So rate last when which you low-double-digit. high-single, year's think increases, about were

the the similar to have a industry cash something terms in of of of deficit expectation today. With we properties, high for the that's meaningful the in amount revenue overcome end really top-line

that context important. question, to but So think I your long is answer

Connor Siversky

Appreciate That's color TAB cross? to look do you big And does like that Great. the total what to How expect want to mean, to And credit Taylor. threshold of the is and line balance, then just get? the wouldn't currently? you the deferral a relates it I building then there that OHI helpful. as

Taylor Pickett

we into at we round $XXX with cash a have fund we're So, Omega. any that basis expect we're numbers, Remember, to don't million cash and additional interest on line. that

So, run perspective, we a one. to cash funding we're But accrue to from Maplewood. that done continue obligation to continue interest that

Operator

next from And Go question comes our ahead, Griffin Michael. from Michael Citi.

Michael Griffin

Just lot your to the utilization to you in kind see availability, back operators, maybe half labor And a of do Conversations really sense pressures? is expectations labor of year? you kind get up those the with occupancy on where for do to need agency where of labor circling of trending have a ease of

Megan Krull

hearing definitely tends really of I get I it's it's from the That's completely, shortages. having of staffing And anecdotally what our that's mean, states, from but severe to operators able one perspective, certain Florida out we're based. to be operators. geographically improving. an agency are it mean,

and always mean, we we're really that to agencies talk terms issues need solve back high, And those where just just we to on that depends to occupancy, with problems. some but close about it staffing work still are. close through I XX% of the XX%, national up all to So in getting of there. you

Michael Griffin

give growth sense Great. And of year-to-date. then looking what You've the to forward a number done is opportunities. you external like? a investments That's helpful. of Can us maybe switching pipeline

that they have Just might set kind been you where where maybe and quantify opportunity can relative to of previously?

Dan Booth

take So active. We're about quantify, and say I'd active. particularly fair in say quite of here U.K. want the the I a the it's in don't naturally number at to abroad I those opportunistic what looking to is hope states for proxy of states, some to deals transactions We're U.K. do the seeing will but the some year-to-date think of in here pretty we and is done what latter in a good the try going we're of advantage to half we've next I year.

far as As deals, yes, up, as low to rates starting seeing go, you've cap X we're we're move seen high our bid rates XX.

Operator

And from you. question Go Joshua Dennerlein our America. next of Bank Thank Joshua. comes from ahead,

Joshua Dennerlein

any In there kind subset like of But remarks, the of lag portfolio part still is curious, the X.XX? to portfolio the low you at of that picture causing that's hear overall a theme was didn't mentioned them big opening there certain Xx, covering out. the I versus just

Taylor Pickett

that break one fixing of that pretty we're piece you know going when big below a we theme. about another good they'll significant that know we'll that's we those visibility But that, don't LaVie, have talk there's down that. When that that bucket. buckets, necessarily to, the out obviously, piece, climb of you I then have

we've It's And you for of many, a where to that's under there's and visibility. years. get the lot They're run historically operators small. of then many where back handful X%, not

of that good. climb but than we bucket, going net look visibility. there. have So, and going little get bucket not we to at less quarter, into while, next there's to back It's It's pathway, where it's that and X% honestly, portfolio to our pretty be a below take for think a I

Joshua Dennerlein

bucket And -- I kind climb I'm timeframe that, it. maybe expect maybe of any on it trying guess, you through just is frame, out that, to that to yes, or -- time the just of the part of just think

Taylor Pickett

above you side And to you And give longer Dan have will examples. happen than are Xx. the LaVie either that but then taking X.X% mentioned, currently running two is I'll table, of it's just think it I as us restructuring. Well, this the year. big finishing any on structuring of subject

of waiting XX that's to just we in report, up. a the how So trailing catch question terms for

you've So, you two in you've -- buckets. got got the then almost activity. XX% have And those almost restructuring right there

make visibility a comfortable. will think lot I will So, more of of have QX into this people a going reporting lot that

Operator

Go our Valiquette ahead, And comes question next from Steve Steve. Barclays. from

Unidentified Analyst

is [indiscernible] Steve on for This Valiquette.

June wanted an completion. been better XX% kind question get of assuming ending and And down coverage of question, the wanted say, number just of in confirm to Would most operator that's or EBITDAR how on of to the then a operator the closest being kind a let's is just to quantify May impacted? like of also be, the sense closest with of would still to I ratio affected that kind back just to say reducing that of you has in that it's in just And sense is how operators previous to range? LaVie LaVie line the First recently, PHE that's below July the Xx, restructured? with the business fully

Megan Krull

the a anyway. say So Obviously, large tapered hasn't place gone, lot was impact. emergency, It's in huge I of health the kind that's been there a not that impact. off but public of a filing very would

which in these FMAP have on of their increases that states their in next year. added really some piece most will FMAP the Texas well. FMAP permanently. year, to is get gone permanent have rate is the Hopefully, through of The other large of rate that that we've the California as put piece, over it going end like

most with or have it it. either of with So these states scale deal at

say I point. at So an much not impact would of this

Taylor Pickett

then EBITDAR And X.X% operators have X.X%. have you half QX of And with the of yes, the of the sheet operators bucket X% strong had very two balance LaVie, so you one then X. very, strong, the buckets call of it one-time. question, restructured target And XX.X, LaVie an at, then the above second XX%. to

So that's another XX%.

we roll time all that around, think will very into we -- quarter, And of down gets have that have we Again, I X%. the to X% the will visibility, you we XXXX, a next that. and by but visibility are in think chunk working, big of I not

number they historical to So,, down trending get are X, should things continue if the as levels, today. sub

Unidentified Analyst

right. still the And do net being acquirers quickly, year? All super on intend you for

Taylor Pickett

de than LaVie, would the the anything have around which we don't there. That held given restructuring minimis sale, what what we restructuring and be for we're big have other expectation which is out

Operator

[Operator Instructions] from question Mizuho. Our next comes from ahead. Go Vikram Malhotra

Vikram Malhotra

Thanks questions. for just one, clarify. wanted the first I taking Maybe to

the You had to were remind rate. maybe impacting, to mentioned hit share sort It last now FAD you to wanted me count number I clarify. are It's And of to just you approximating XQ run tenant the $X.XX-ish that it for the the you saying FAD dividend. I capital in Is front quarter I to by nothing that said, XX% coverage XXXX? a raise you thought I are want are now in baking probably you XQ. just hoping and the the just else shares? get just to more clarify. on think

Bob Stephenson

also LaVie I absolutely and have as But think the an of well. big getting again, impact. that it's in -- shares restructures The getting XXXX, piece

Vikram Malhotra

coverages to impacted maybe period relatively a there operators? the is to time sooner for line in sort That's at scenarios anticipated And where thinking couple year but the outcome the you hours, of scenario, require a X.X sort sort rule, a standard the comes, whenever I'm long of staffing on negative about wondering helpful. of looked call how it, they maybe Okay. minimum an eventually versus assessment you've just the of just if done of it is

Megan Krull

operators this come it's look, wouldn't but, are out affect no shortages year, of have to would I get probably it do right? just into a because think But that it everybody place to how out billion. good too staffing given it's there would puts nothing drill haven't post into out the until industry we rule out if draconian get it way They to figure there, -- something yet has X.X way on put [indiscernible] and so, soon, the out can't mean, pushed comes basis. -- down has cost hopeful you're you But difficult $XX something come like to out probably next we the tomorrow, really And that something so like We that daily is that. business. from improved. really

Operator

from Gollady question our ahead, from And Go next Baird. comes Wes Wes.

Wes Golladay

on is Is I a question a there guess is dynamic quick hires there and staffing. of -- are quitting? churn, lower lot of new Or still of lot what you a the A the people there? turnover? lot

Megan Krull

a job folks lowering folks are certainly doing think better the I at out turnover and finding there.

the think better think that in getting is international and with as help there's to from successful been areas operators bolster I I who've turnover folks bringing some also well.

Wes Gollady

accounting $XX your expense time behind and where the Can is is mentioned perspective, you new gain. guess financing then reduce that? us And roll to million were interest remind a you you maybe you, the there from that certain could plan, gain like I what the if a period a into it offering,

Bob Stephenson

have of over then least five standpoint. and that or P&L offering a longer, Yes. Basically, we'll new in to years the offering from it roll mid-XXXX a at we debt amortize

Operator

time, over closing is remarks. I for question back call the That for turn Thank any Taylor last the you. At like to this Pickett to today. would

Taylor Pickett

Thanks everybody for us today. joining

day. we're always, Have follow-up questions. great for any available a As

Operator

today's does your you. Thank This conclude participation. thank conference. We

at your this time, and a You lines have may wonderful disconnect day.

Omega Healthcare Investors (OHI) 3 Aug 232023 Q2 Earnings call transcript