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Omega Healthcare Investors Whiffs on Q4 FFO, Beats on Revenues

By Eric Volkman – Feb 4, 2014 at 4:46PM

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Omega Healthcare reports a mixed quarter to close out its fiscal 2013.

Omega Health Care Investors (OHI -2.34%) posted a quarter of mixed results. For is Q4, the real estate investment trust said today its revenues rose to $111 million, against Q4 2012's $95 million. Net income available to common shareholders was $47 million ($0.38 per diluted share), up from $34 million ($0.30) in the same period the previous year. Funds from operations -- a critical metric for REITS -- amounted to $0.65 per share, bettering the $0.55 of the year-ago period. 

Analysts were projecting FFO of $0.68 per share on revenues of $96 million. 

For the full year, revenues totaled $419 million, and net income was $173 million ($1.46 per diluted share), compared to 2012's $350 million and $121 million ($1.12). FFO for 2012 was $2.56 per share, up from the previous year's $2.06.

Going forward, Omega proffered guidance for fiscal 2014. It expects raw FFO of $2.44 to $2.47 per share, or $2.69 to $2.72 on an adjusted basis.

So far this year, the REIT has seen its share price rise modestly. Much of this increase followed a $0.01 bump in the company's quarterly dividend to $0.49. The new distribution was declared last month.  

Eric Volkman has no position in Omega Healthcare Investors. Nor does The Motley Fool. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Stocks Mentioned

Omega Healthcare Investors Stock Quote
Omega Healthcare Investors
OHI
$29.24 (-2.34%) $0.70

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