The company?s operator earnings before interest, taxes, depreciation, amortization, and rent expense (EBITDAR) for the 12 months ended Sept. 30, 2024, was 1.50x, an improvement from 1.28x a year prior and 1.49x a quarter prior (operator EBITDAR coverage is reported one quarter in arrears). Portfolio occupancy has also continued to trend upward to 81.2% for the 12 months ended Sept. 30, 2024, from 79.1% a year prior and 80.9% a quarter prior. Sector trends for the skilled nursing industry are positive with increasing demand due to favorable demographic trends, no net new supply, and easing labor pressures (though we believe this remains a risk over the next several years). As such, we expect occupancy and operator coverage levels to continue
