Omega Healthcare Investors, Inc.

Good morning and welcome to the fourth quarter 2020 earnings call. All participants will be in a listen-only mode. Should you need assistance with a question, you may press star, then one on a touchtone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Michelle Reber. Please go ahead.

Thank you and good morning. With me today are Omega CEO Taylor Pickett, COO Dan Booth, CFO Bob Stevenson, Chief Corporate Development Officer Steven Insoft, and Megan Krull, Senior Vice President of Operations. Comments made during this conference call that are not historical facts may be forward-looking statements, such as statements regarding our financial projections, dividend policy, portfolio restructurings, rent payments, financial condition or prospects of our operators, contemplated acquisitions, dispositions or transitions, and our business and portfolio outlook generally. These forward-looking statements involve risks and uncertainties which may cause actual results to differ materially. Please see our press releases and our filings with the Securities and Exchange Commission, including, without limitation, our most recent report on Form 10-K, which identifies specific factors that may cause actual results or events to differ materially from those described in forward-looking statements. During the call today, We will refer to some non-GAAP financial measures such as NAREIT FFO, Adjusted FFO, FAD, and EBITDA. Reconciliations of these non-GAAP measures to the most comparable measure under generally accepted accounting principles, as well as an explanation of the usefulness of the non-GAAP measures, are available under the financial information section of our website at www.omegahealthcare.com and, in the case of NAREIT FFO and Adjusted FFO, in our recently issued press release. In addition, certain operator coverage and financial information that we discuss is based on data provided by our operators that has not been independently verified by Omega. I will now turn the call over to Taylor.

Thanks, Michelle. Good morning, and thank you for joining our fourth quarter 2020 earnings conference call. Today, I will discuss the pandemic and the related government response and support, our fourth quarter financial results, the vaccine rollout, and our new Brookdale relationship. I again want to thank our operating partners and their staff who have cared for the tens of thousands of residents within our facilities. I would also like to recognize and thank the federal government and the states for their support of the skilled nursing and assisted living communities. The allocation and distribution of additional government funding along with communication and evolution of clinical protocols has been critical in protecting and saving lives as we combat this unprecedented, deadly pandemic. Continued federal and state government support will be critical for the skilled nursing and assisted living care settings. The latest round of CARES Act funding targeted operators that have been disproportionately impacted by the pandemic. We believe at least $23 billion of CARES Act funding under the Provider Relief Fund remains unallocated. We are hopeful that new legislation will add to provider relief funding and hopefully will support the industry through its 2021 recovery. Turning to our financial results, we are very pleased with our fourth quarter results. Our adjusted FFO of 81 cents per share and our funds available for distribution of 77 cents per share allow us to maintain our quarterly dividend of 67 cents per share. The payout ratio is 83% of adjusted FFO and 87% of funds available for distribution. Additionally, for the fourth quarter and in January, we collected virtually all of our contractual rents. We continue to gather vaccine rollout data from our operators and can report the following. As of January 31st, based on 92% of our facilities reporting in, 95% of facilities have conducted or are scheduled within the next week for first dose clinics. The vaccination rate for residents is approximately 69%. The vaccination rate for staff is approximately 36%. For most facilities, the second dose clinic, which occurs 21 days after the first dose, will also incorporate a new day of first doses for those residents or staff who are not available or who are not prepared for the vaccination during the first round clinic. Turning to Brookdale. We are very pleased to have established a relationship with Brookdale via the senior housing facilities and related master lease that we've acquired from HealthPeak. We believe that Brookdale is exceptionally well equipped to address the current COVID-19 environment and to prosper as we emerge from the pandemic. They have an excellent leadership team, substantial liquidity to sustain and grow their operations, low rate, long dated secured debt tied to their owned assets, and valuable integrated home health and hospice companies. We look forward to working with the Brookdale team and possibly identifying new opportunities where we might partner in the future. I will now turn the call over to Bob.