Omega Healthcare Investors, Inc. - Financial Highlights

	2013 FQ1 YTD	2012 FY	2011 FY	2010 FY	2009 FY
Period Ended	3/31/2013	12/31/2012	12/31/2011	12/31/2010	12/31/2009
Balance Sheet ($000)
Gross Depreciable Property	3,046,805	3,038,553	2,537,039	2,366,856	1,669,843
Net Property Investment	2,434,503	2,458,180	2,066,619	1,985,861	1,373,402
Property Held for Sale: Nondepreciable	1,020	1,020	2,461	670	877
Mortgage Loans	240,551	238,621	238,675	108,557	100,223
Senior Secured Debt	365,428	366,538	303,610	201,296	253,454
Senior Unsecured Debt	1,379,258	1,437,345	1,226,571	954,266	484,695
Total Subordinated Debt	21,008	21,049	21,219	21,403	0
Total Debt	1,765,694	1,824,932	1,551,400	1,176,965	738,149
Total Liabilities	1,898,887	1,970,676	1,678,828	1,299,941	789,806
Equity Attributable to Parent Company	1,105,754	1,011,329	878,484	1,004,066	865,227
Total Equity	1,105,754	1,011,329	878,484	1,004,066	865,227
Market Capitalization ($M)	3,526.4	2,680.6	2,001.0	2,226.8	1,716.8
Implied Market Cap ($M)	3,526.4	2,680.6	2,001.0	2,226.8	1,716.8
Total Capitalization ($M)	5,292.1	4,505.5	3,552.4	3,512.2	2,563.4
Total Enterprise Value ($M)	5,266.5	4,503.8	3,552.0	3,505.3	2,561.2
Total Enterprise Value Plus JV Debt ($M)	5,266.5	4,503.8	3,552.0	3,505.3	2,561.2
Income Statement ($000)
Rental Revenue	93,109	314,592	273,517	232,772	164,468
Rental Net Operating Income	93,109	314,592	273,517	232,772	164,468
NOI	93,109	314,592	272,864	232,110	162,266
Gain on Sale of Real Estate	0	11,799	1,670	(4)	753
Interest Expense	26,354	98,176	83,828	71,120	38,549
Revenue	101,764	350,489	292,244	258,426	201,986
Expense	63,510	240,681	240,104	198,432	119,067
Extraordinary Items	0	0	0	0	0
Net Income	38,120	120,698	52,606	58,436	82,111
Net Income Attributable to Parent	38,120	120,698	52,606	58,436	82,111
Net Income Avail to Common	38,120	120,698	47,459	49,350	73,025
FFO	70,079	222,154	172,470	134,132	116,966
Operating Funds from Operations, as Reported	71,665	236,153	193,330	156,141	122,740
Adjusted FFO	65,146	206,013	176,705	150,513	117,915
Modified FFO	NA	NA	NA	NA	NA
Financial Analysis
ROAA (%)	5.09	4.55	2.30	2.81	5.92
ROAE (%)	14.40	12.76	5.79	6.12	10.22
Implied Capitalization Rate (%)	8.86	9.13	9.16	8.34	9.29
Dividend Payout Ratio (%)	132.35	150.89	336.96	263.46	137.93
Dividend Yield (%)	5.93	7.38	8.27	6.60	6.17
FFO Payout (%)	72.58	82.04	91.72	96.48	85.71
FFO / Total Revenue (%)	68.86	63.38	59.02	51.90	57.91
Price / LTM FFO (x)	13.70	11.60	11.40	15.80	13.90
Price / LTM AFFO (x)	15.10	12.60	11.20	14.00	13.80
Price / Last-twelve-months EPS (x)	25.30	21.30	42.10	43.20	22.40
Recurring EBITDA / Interest Expense (x)	3.66	3.34	3.16	3.24	4.17
Recurring EBITDA / Interest Expense + Pref. Div. (x)	3.66	3.34	3.09	2.87	3.37
Debt and Preferred / TEV (%)	33.53	40.52	43.68	36.67	33.06
Total Debt / Gross Properties (%)	57.95	60.06	61.15	49.73	44.20
Credit Lines Drawn / Available (%)	0	31.60	57.37	0	47.05
Changes and Trends (%)
FFO Growth	45.43	28.81	28.58	14.68	19.17
FFO / Share Growth	34.80	21.90	19.00	1.40	7.70
EPS Growth, before Extraordinary	36.00	143.50	(11.5)	(40.2)	(6.5)
Real Estate Investment Growth	(2.62)	16.30	11.27	41.03	20.56
Per Share Information ($)
Common Shares Outstanding	116,153,000	112,393,000	103,410,000	99,233,000	88,266,000
Closing Price	30.36	23.85	19.35	22.44	19.45
Basic EPS before Extra	0.34	1.12	0.46	0.52	0.87
Diluted EPS before Extra	0.34	1.12	0.46	0.52	0.87
FFO / Share	0.62	2.06	1.69	1.42	1.40
Operating FFO per Share, as Reported	0.63	2.19	1.89	1.66	1.47
AFFO per Share	0.57	1.90	1.73	1.60	1.41
Modified FFO per Share	NA	NA	NA	NA	NA
Common Dividends Declared per Share	0.45	1.69	1.55	1.37	1.20
Debt Maturity Schedule ($000)
Debt Maturing: Next FY	0	0	0	0	59,354
Debt Maturing: FY2	0	0	0	0	94,100
Debt Maturing: FY3	0	158,000	272,500	0	0
Debt Maturing: FY4	200,000	100,000	174,376	0	410,673
Debt Maturing: Thereafter	1,565,694	1,566,932	1,104,524	1,176,965	174,022
Principal Payments Schedule ($000)
Debt Due this Fiscal Year	NA	5,251	4,188	2,465	0
Debt Due during Next Fiscal Year	NA	5,540	4,447	2,601	59,354
Debt Due during Second Fiscal Year	NA	5,845	4,694	2,745	94,100
Debt Due during Third Fiscal Year	NA	164,168	277,456	2,897	0
Debt Due during Fourth Fiscal Year	NA	106,509	179,608	3,057	410,000
Debt Due Thereafter	NA	1,526,792	1,076,955	1,163,200	175,000
Adjustments to Debt Principal Schedule	NA	0	0	0	(305)