Omega Healthcare Investors Inc. (OHI, Financial) filed Quarterly Report for the period ended 2012-06-30.
Omega Healthcare Investors Inc has a market cap of $2.57 billion; its shares were traded at around $23.76 with a P/E ratio of 12.1 and P/S ratio of 8.8. The dividend yield of Omega Healthcare Investors Inc stocks is 7%. Omega Healthcare Investors Inc had an annual average earning growth of 0.9% over the past 10 years.
Our operating revenues for the six months ended June 30, 2012, totaled $168.3 million, an increase of $25.3 million over the same period in 2011. The $25.3 million increase was primarily the result of additional rental income due to (i) new acquisitions in the fourth quarter of 2011; (ii) lease amendments and extensions, (iii) the transition of FC/SCH facilities to the new operator, (iv) additional mortgage interest income primarily due to (a) the $92.0 million mortgage loan that we entered into with Ciena in November 2011 and (b) new $25.0 million mortgage loan that we entered into with White Pine in October 2011 and (v) additional other investment income primarily due to the December 2011 $28.0 million note with Signature.
Operating Activities β Net cash flow from operating activities generated $94.4 million for the six months ended June 30, 2012, as compared to $77.2 million for the same period in 2011, an increase of $17.3 million. The increase is primarily due to the rental revenue from the 2011 White Pine and affiliates of CFG acquisitions and the placement of additional mortgages, offset by additional interest associated with financing the acquisitions and new mortgages. Investing Activities β Net cash flow from investing activities was an outflow of $17.4 million for the six months ended June 30, 2012, as compared to an outflow of $13.3 million for the same period in 2011. The $4.0 million increase in cash outflow from investing activities relates primarily to (i) a $1.9 million purchase of land in the first quarter of 2012 and a $25.1 million purchase of five SNFs in the second quarter of 2012 and (ii) an additional $6.1 million investment in capital improvement projects compared to the same period in 2011. Offsetting these increases were: (i) $22.0 million in proceeds from the sale of real estate in 2012 and (ii) an increase in net proceeds of $7.0 million from other investments β net compared to the same period in 2011. Financing Activities β Net cash flow from financing activities was an outflow of $74.6 million for the six months ended June 30, 2012 as compared to an outflow of $65.7 million for the same period in 2011. The $8.8 million increase in cash outflow from financing activities was primarily a result of: (i) a net payment of $270.5 million on the 2011 Credit Facility for the first six months of 2012 compared to $53.0 million of net proceeds for the same period in 2011; (ii) $188.7 million in payments including (a) $175.0 million tender offer and redemption payments for our outstanding $175 million 2016 Notes, (b) $11.7 million early retirement of four HUD mortgages and (c) $2.0 million in routine HUD debt principal payments for the first six months of 2012 as compared to $1.2 million for the same period in 2011; (iii) payment of $12.9 million related to deferred financing costs and refinancing costs primarily associated with (a) the tender offer and redemption of our outstanding $175 million 2016 Notes, (b) the issuance of our $400 million 5.875% Senior Notes due 2024 and (c) a prepayment penalty related to the early retirement of four HUD mortgages; and (iv) an increase in dividend payments of $8.0 million during the first six months of 2012 due to an increase in number of shares outstanding and an increase of $0.08 per share in the dividends. Offsetting these increases were: (i) net proceeds of $400 million from our 5.875% Senior Notes due 2024 issued in March 2012; (ii) an increase in net proceeds of $28.4 million from our dividend reinvestment plan in the first six months of 2012 compared to the same period in 2011; (iii) a decrease in net proceeds of $15.8 million from our common stock issued through our Equity Shelf Program during the first six months of 2012 compared to the same period in 2011; and (iv) the impact of the $108.6 million preferred stock redemption in the first quarter of 2011. Item 3 β
Operating Activities β Net cash flow from operating activities generated $94.4 million for the six months ended June 30, 2012, as compared to $77.2 million for the same period in 2011, an increase of $17.3 million. The increase is primarily due to the rental revenue from the 2011 White Pine and affiliates of CFG acquisitions and the placement of additional mortgages, offset by additional interest associated with financing the acquisitions and new mortgages. Investing Activities β Net cash flow from investing activities was an outflow of $17.4 million for the six months ended June 30, 2012, as compared to an outflow of $13.3 million for the same period in 2011. The $4.0 million increase in cash outflow from investing activities relates primarily to (i) a $1.9 million purchase of land in the first quarter of 2012 and a $25.1 million purchase of five SNFs in the second quarter of 2012 and (ii) an additional $6.1 million investment in capital improvement projects compared to the same period in 2011. Offsetting these increases were: (i) $22.0 million in proceeds from the sale of real estate in 2012 and (ii) an increase in net proceeds of $7.0 million from other investments β net compared to the same period in 2011. Financing Activities β Net cash flow from financing activities was an outflow of $74.6 million for the six months ended June 30, 2012 as compared to an outflow of $65.7 million for the same period in 2011. The $8.8 million increase in cash outflow from financing activities was primarily a result of: (i) a net payment of $270.5 million on the 2011 Credit Facility for the first six months of 2012 compared to $53.0 million of net proceeds for the same period in 2011; (ii) $188.7 million in payments including (a) $175.0 million tender offer and redemption payments for our outstanding $175 million 2016 Notes, (b) $11.7 million early retirement of four HUD mortgages and (c) $2.0 million in routine HUD debt principal payments for the first six months of 2012 as compared to $1.2 million for the same period in 2011; (iii) payment of $12.9 million related to deferred financing costs and refinancing costs primarily associated with (a) the tender offer and redemption of our outstanding $175 million 2016 Notes, (b) the issuance of our $400 million 5.875% Senior Notes due 2024 and (c) a prepayment penalty related to the early retirement of four HUD mortgages; and (iv) an increase in dividend payments of $8.0 million during the first six months of 2012 due to an increase in number of shares outstanding and an increase of $0.08 per share in the dividends. Offsetting these increases were: (i) net proceeds of $400 million from our 5.875% Senior Notes due 2024 issued in March 2012; (ii) an increase in net proceeds of $28.4 million from our dividend reinvestment plan in the first six months of 2012 compared to the same period in 2011; (iii) a decrease in net proceeds of $15.8 million from our common stock issued through our Equity Shelf Program during the first six months of 2012 compared to the same period in 2011; and (iv) the impact of the $108.6 million preferred stock redemption in the first quarter of 2011. Item 3 β
Operating Activities β Net cash flow from operating activities generated $94.4 million for the six months ended June 30, 2012, as compared to $77.2 million for the same period in 2011, an increase of $17.3 million. The increase is primarily due to the rental revenue from the 2011 White Pine and affiliates of CFG acquisitions and the placement of additional mortgages, offset by additional interest associated with financing the acquisitions and new mortgages.
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Omega Healthcare Investors Inc has a market cap of $2.57 billion; its shares were traded at around $23.76 with a P/E ratio of 12.1 and P/S ratio of 8.8. The dividend yield of Omega Healthcare Investors Inc stocks is 7%. Omega Healthcare Investors Inc had an annual average earning growth of 0.9% over the past 10 years.
Highlight of Business Operations:
Our operating revenues for the three months ended June 30, 2012, totaled $83.8 million, an increase of $11.2 million over the same period in 2011. The $11.2 million increase was primarily the result of additional rental income due to (i) new acquisitions in the fourth quarter of 2011, (ii) additional mortgage interest income primarily due to (a) the $92.0 million mortgage loan that we entered into with Ciena in November 2011 and (b) the $25.0 million mortgage loan that we entered into with White Pine in October 2011, (iii) lease amendments and extensions with existing operators and (iv) and additional other investment income primarily due to the December 2011 $28.0 million note with Signature.Our operating revenues for the six months ended June 30, 2012, totaled $168.3 million, an increase of $25.3 million over the same period in 2011. The $25.3 million increase was primarily the result of additional rental income due to (i) new acquisitions in the fourth quarter of 2011; (ii) lease amendments and extensions, (iii) the transition of FC/SCH facilities to the new operator, (iv) additional mortgage interest income primarily due to (a) the $92.0 million mortgage loan that we entered into with Ciena in November 2011 and (b) new $25.0 million mortgage loan that we entered into with White Pine in October 2011 and (v) additional other investment income primarily due to the December 2011 $28.0 million note with Signature.
Operating Activities β Net cash flow from operating activities generated $94.4 million for the six months ended June 30, 2012, as compared to $77.2 million for the same period in 2011, an increase of $17.3 million. The increase is primarily due to the rental revenue from the 2011 White Pine and affiliates of CFG acquisitions and the placement of additional mortgages, offset by additional interest associated with financing the acquisitions and new mortgages. Investing Activities β Net cash flow from investing activities was an outflow of $17.4 million for the six months ended June 30, 2012, as compared to an outflow of $13.3 million for the same period in 2011. The $4.0 million increase in cash outflow from investing activities relates primarily to (i) a $1.9 million purchase of land in the first quarter of 2012 and a $25.1 million purchase of five SNFs in the second quarter of 2012 and (ii) an additional $6.1 million investment in capital improvement projects compared to the same period in 2011. Offsetting these increases were: (i) $22.0 million in proceeds from the sale of real estate in 2012 and (ii) an increase in net proceeds of $7.0 million from other investments β net compared to the same period in 2011. Financing Activities β Net cash flow from financing activities was an outflow of $74.6 million for the six months ended June 30, 2012 as compared to an outflow of $65.7 million for the same period in 2011. The $8.8 million increase in cash outflow from financing activities was primarily a result of: (i) a net payment of $270.5 million on the 2011 Credit Facility for the first six months of 2012 compared to $53.0 million of net proceeds for the same period in 2011; (ii) $188.7 million in payments including (a) $175.0 million tender offer and redemption payments for our outstanding $175 million 2016 Notes, (b) $11.7 million early retirement of four HUD mortgages and (c) $2.0 million in routine HUD debt principal payments for the first six months of 2012 as compared to $1.2 million for the same period in 2011; (iii) payment of $12.9 million related to deferred financing costs and refinancing costs primarily associated with (a) the tender offer and redemption of our outstanding $175 million 2016 Notes, (b) the issuance of our $400 million 5.875% Senior Notes due 2024 and (c) a prepayment penalty related to the early retirement of four HUD mortgages; and (iv) an increase in dividend payments of $8.0 million during the first six months of 2012 due to an increase in number of shares outstanding and an increase of $0.08 per share in the dividends. Offsetting these increases were: (i) net proceeds of $400 million from our 5.875% Senior Notes due 2024 issued in March 2012; (ii) an increase in net proceeds of $28.4 million from our dividend reinvestment plan in the first six months of 2012 compared to the same period in 2011; (iii) a decrease in net proceeds of $15.8 million from our common stock issued through our Equity Shelf Program during the first six months of 2012 compared to the same period in 2011; and (iv) the impact of the $108.6 million preferred stock redemption in the first quarter of 2011. Item 3 β
Operating Activities β Net cash flow from operating activities generated $94.4 million for the six months ended June 30, 2012, as compared to $77.2 million for the same period in 2011, an increase of $17.3 million. The increase is primarily due to the rental revenue from the 2011 White Pine and affiliates of CFG acquisitions and the placement of additional mortgages, offset by additional interest associated with financing the acquisitions and new mortgages. Investing Activities β Net cash flow from investing activities was an outflow of $17.4 million for the six months ended June 30, 2012, as compared to an outflow of $13.3 million for the same period in 2011. The $4.0 million increase in cash outflow from investing activities relates primarily to (i) a $1.9 million purchase of land in the first quarter of 2012 and a $25.1 million purchase of five SNFs in the second quarter of 2012 and (ii) an additional $6.1 million investment in capital improvement projects compared to the same period in 2011. Offsetting these increases were: (i) $22.0 million in proceeds from the sale of real estate in 2012 and (ii) an increase in net proceeds of $7.0 million from other investments β net compared to the same period in 2011. Financing Activities β Net cash flow from financing activities was an outflow of $74.6 million for the six months ended June 30, 2012 as compared to an outflow of $65.7 million for the same period in 2011. The $8.8 million increase in cash outflow from financing activities was primarily a result of: (i) a net payment of $270.5 million on the 2011 Credit Facility for the first six months of 2012 compared to $53.0 million of net proceeds for the same period in 2011; (ii) $188.7 million in payments including (a) $175.0 million tender offer and redemption payments for our outstanding $175 million 2016 Notes, (b) $11.7 million early retirement of four HUD mortgages and (c) $2.0 million in routine HUD debt principal payments for the first six months of 2012 as compared to $1.2 million for the same period in 2011; (iii) payment of $12.9 million related to deferred financing costs and refinancing costs primarily associated with (a) the tender offer and redemption of our outstanding $175 million 2016 Notes, (b) the issuance of our $400 million 5.875% Senior Notes due 2024 and (c) a prepayment penalty related to the early retirement of four HUD mortgages; and (iv) an increase in dividend payments of $8.0 million during the first six months of 2012 due to an increase in number of shares outstanding and an increase of $0.08 per share in the dividends. Offsetting these increases were: (i) net proceeds of $400 million from our 5.875% Senior Notes due 2024 issued in March 2012; (ii) an increase in net proceeds of $28.4 million from our dividend reinvestment plan in the first six months of 2012 compared to the same period in 2011; (iii) a decrease in net proceeds of $15.8 million from our common stock issued through our Equity Shelf Program during the first six months of 2012 compared to the same period in 2011; and (iv) the impact of the $108.6 million preferred stock redemption in the first quarter of 2011. Item 3 β
Operating Activities β Net cash flow from operating activities generated $94.4 million for the six months ended June 30, 2012, as compared to $77.2 million for the same period in 2011, an increase of $17.3 million. The increase is primarily due to the rental revenue from the 2011 White Pine and affiliates of CFG acquisitions and the placement of additional mortgages, offset by additional interest associated with financing the acquisitions and new mortgages.
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