Company Overview - Omega Healthcare Investors (OHI) is the largest Skilled Nursing Facilities (SNF)-focused REIT with a total real estate investment of $9.9 billion[16] - The company has 866 properties across the US and the UK, operated by 73 different operators[16,104] - Omega collected approximately 91% of its 1Q24 contractual rent and mortgage payments from its operators[32] Financial Performance - Omega has demonstrated consistent growth with a 12.7% CAGR in gross investments and a 12.9% CAGR in Adjusted EBITDA[149,153] - The company's dividend yield is 8.5%, with a dividend CAGR of 7.1%[16,160] - Omega's management targets a Funded Debt to Adjusted EBITDA ratio between 40x and 50x[182] Market Dynamics and Strategy - SNFs are the highest discharge destination from Medicare FFS hospitals, accounting for 19.3% of discharges[70] - The company estimates that SNF demand will outstrip supply by 2030, driven by an aging population[140] - Omega's strategy includes growth through accretive investments, maintaining financial strength, and continuing solid dividend growth[29] - Omega committed $10 million to fund 50% of the expected debtor-in-possession financing for LaVie Care Centers[36]