Omega Healthcare Eyes ‘strong’ Growth Pipeline With Ridea Opportunities Ahead 

Leadership at Omega Healthcare Investors (NYSE: OHI) sees expanding senior housing as a way to continue growing through the remainder of 2026 and 2027.

The Hunt Valley, Maryland-based real estate investment trust (REIT) completed $181 million worth of investments in the third quarter, $167 million of which were acquisitions and the remaining $14 million were loans. Acquisitions included $73 million of skilled nursing facilities that were leased to a new operator, $16 million for six U.K. care homes that were leased to an existing operator, and $78 million for five senior housing communities that were then placed into a RIDEA structure, according to Chief Investment Officer Vikas Gupta.

According to Gupta, Omega’s pipeline is “strong” across skilled nursing, senior housing in the U.K.

“As for where we continue to see opportunities, I would say it’s leaning a little bit more towards senior housing RIDEA, and U.K. care homes, both triple net and RIDEA,” Gupta told investors during a Nov. 4 earnings call.

Omega has 415 senior housing assets in its portfolio, 44 of which are part of the senior housing operating portfolio (SHOP) with the remainder being triple net. It still holds 620 skilled nursing facilities and transitional care assets under triple net.

Occupancy across the operating portfolio averaged 88.8% in the third quarter of 2026, up from 85.8% in the previous quarter, and revenue per occupied room (RevPOR) reached $6,658, up from $5,781 in the second quarter. Net operating margin showed growth as well, increasing to 16.9% from 12.5%, though it is still behind the first quarter, which was 18.5%. Funds from operations (FFO) was 82 cents per share, reflecting “solid year-over-year growth” according to CEO Matthew Gourmand.

However, financial performance was flat due to a headwind from $563 million dollars of asset sales late in the second quarter, Gourmand said.

As Maplewood Senior Living, one of Omega’s senior housing partners, continues to stabilize, Gupta sees meaningful room for growth from the portfolio for years to come with its ability to push rate.

In addition, the Chapter 11 bankruptcy of post-acute provider Genesis Healthcare was finalized at the beginning of October, and as part of the transaction Omega received repayment of its debtor-in-possession loan and a $150 million term loan, representing an “excellent outcome” for the REIT, Gupta said.

Omega’s stock is priced at $49.17, up 3.5% from the previous close.

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