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May 3 , 2021 OMEGA Healthcare INVESTORS , INC . Omega Reports First Quarter 2021 Results and Recent Developments Completed $ 611 Million in New Investments in Q1 Issued $ 700 Million 3.250 % Notes due 2033 in Q1 Repurchased $ 350 Million of 4.375 % Notes due 2023 in Q1 Closed New $ 1.45 Billion Unsecured Credit Facility in Q2 HUNT VALLEY , Md .-- ( BUSINESS WIRE ) -- Omega Healthcare Investors , Inc. ( NYSE : OHI ) ( the " Company " or " Omega " ) announced today its results for the quarter ended March 31 , 2021. The Company reported net income for the quarter of $ 164.4 million or $ 0.69 per common share . The Company also reported Nareit Funds From Operations ( " Nareit FFO " ) for the quarter of $ 170.2 million or $ 0.71 per common share , Adjusted Funds From Operations ( " AFFO " or " Adjusted FFO " ) of $ 203.8 million or $ 0.85 per common share , and Funds Available for Distribution ( " FAD ” ) of $ 193.2 million . Nareit FFO , AFFO and FAD are supplemental non - GAAP financial measures that the Company believes are useful in evaluating the performance of real estate investment trusts . For more information regarding these non - GAAP measures , see the “ Funds From Operations " on the Company's website at www.omegahealthcare.com . CEO COMMENTS Taylor Pickett , Omega's Chief Executive Officer , stated , “ We are pleased with our start to 2021 , closing on nearly $ 600 million of acquisitions and reporting strong quarterly AFFO and FAD , as well as continued excellent rent collections . Furthermore , we were able to take advantage of robust capital markets to issue both debt and equity , enabling us to extend our debt maturities , fund acquisitions , and enhance our balance sheet . In addition , we are excited to announce that Maplewood's flagship property , Inspir Carnegie Hill in Manhattan , opened its doors to its first residents in March . " Mr. Pickett continued , " The ongoing diligence of our operators , augmented by the continued roll - out of the vaccine , has led to a decline in COVID cases reported at our facilities of over 90 % from the height of the pandemic . As a result , we started to see a modest improvement in occupancy in February and March . Nevertheless , with occupancy still well below pre- COVID levels and with Medicare mix moderating , many operators continue to be reliant on government financial support . Throughout this crisis , the efforts of both federal and state governments have highlighted their understanding of the vital role skilled nursing and assisted living facilities play within the healthcare continuum . We are hopeful that this support will continue to be provided as the industry remains focused on protecting its frail and vulnerable residents . " Mr. Pickett concluded , " We would once again like to highlight the remarkable efforts of our operators and their heroic employees , who risk their own health and that of their families to bravely protect and care for their residents , and we thank them wholeheartedly for their