staff growth to decelerate significantly mandates

Pickett also noted improvement in staffing availability.

More specifically, 27% of Omega’s facilities have fully recovered, and an additional 21% have recovered within 5% of pre-Covid levels. Omega is starting to see that number tick back up again, reporting occupancy as high as 77.7% as of mid-July, according to preliminary results. Slow growing occupancy, staffing improvementsĪfter seeing consistently slow occupancy growth over the course of 2021 for Omega’s core portfolio, census took a dip from 75.8% in December to 74.6% to start off 2022 - largely due to the omicron variant surge. The real estate investment trust’s (REIT) adjusted funds from operations (FFO) of $0.76 per common share beat consensus estimates by $0.06, and Omega shares were up 0.61% at the close of regular trading on Thursday.Īs of June 30, Omega had an operating asset portfolio of 939 facilities with approximately 92,000 operating beds. Revenue for the second quarter for Omega was approximately $245 million compared to $257 million for the second quarter of 2021 as the year-over-year decrease was attributed to asset sales and operator restructuring.

Staff growth to decelerate significantly mandates