2024-02-08 13:35:02 ET
Omega Healthcare Investors, Inc. (OHI)
Q4 2023 Earnings Conference Call
February 8, 2024 10:00 ET
Company Participants
Michele Reber - Investor Relations
Taylor Pickett - Chief Executive Officer
Dan Booth - Chief Operating Officer
Bob Stephenson - Chief Financial Officer
Megan Krull - Senior Vice President, Operations
Conference Call Participants
Jonathan Hughes - Raymond James
Vikram Malhotra - Mizuho
Michael Griffin - Citi
Connor Siversky - Wells Fargo
Tayo Okusanya - Deutsche Bank
John Pawlowski - Green Street
Juan Sanabria - BMO Capital Markets
Michael Carroll - RBC
Nick Yulico - Scotiabank
Wes Golladay - Baird
Presentation
Operator
Greetings and welcome to the Omega Healthcare Investors Fourth Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I will now turn the conference over to Michele Reber. You may begin.
Michele Reber
Thank you and good morning. With me today is Omega’s CEO, Taylor Pickett; COO, Dan Booth; CFO, Bob Stephenson; and Megan Krull, Senior Vice President of Operations.
Comments made during this conference call that are not historical facts maybe forward-looking statements such as statements regarding our financial projections, potential transactions, operator prospects and outlook generally. Factors that could cause actual results to differ materially from those in the forward-looking statements are detailed in the company’s filings with the SEC.
During the call today, we will refer to some non-GAAP financial measures, such as NAREIT FFO, adjusted FFO, FAD and EBITDA. Reconciliations of these non-GAAP measures to the most comparable measure under generally accepted accounting principles are available in the quarterly supplement. In addition, certain operator coverage and financial information that we discuss is based on data provided by our operators that has not been independently verified by Omega.
I will now turn the call over to Taylor.
Taylor Pickett
Thanks, Michele. Good morning and thank you for joining our fourth quarter 2023 earnings conference call. Today, I will discuss our fourth quarter financial results and certain key operating trends. Fourth quarter FAD funds available for distribution of $0.64 per share was as expected, reflecting several portfolios that are in the process of being transitioned, which will result in meaningful FAD upside over the next few quarters. Full year FAD was $2.62 per share, slightly below our full year dividend of $2.68 per share, resulting in a payout ratio of 102%....
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Omega Healthcare Investors, Inc. (OHI) Q4 2023 Earnings Call Transcript