The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: So I know these metrics are lagging, but saw that rent coverage in the requisite bucket showed some signs of improvement through the end of
Q1. I'm wondering if it's reasonable to assume that this is due to some of the positive impacts from PDPM. And then if so, could you identify some
of the areas where the operators were benefiting under the new payment model?
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. And then a quick follow-up to that. So generally speaking, how does PDPM look in the current environment? I mean you mentioned group
therapy. Is this something that may be permanently rewritten in the framework? Or just any thoughts there are appreciated?
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. And then on the recently announced, I think it was $5 billion allocation from the CARES Act, is there any sense yet of how these funds will
be distributed among skilled nursing facilities or long-term care facilities in general?
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AUGUST 06, 2020 / 2:00PM, OHI.N - Q2 2020 Omega Healthcare Investors Inc Earnings Call
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. And then last one for me. Bob had touched on this before, a bit of a 2-part question. I mean how do you feel about the dividend through the
end of the year? Has your calculus changed at all maybe from what you were looking at in May or June with pretty strong rent collections thus far?
And then in a similar vein, I mean, how are you looking at acquisition opportunities at the moment? Are you seeing anything loosen up? Is pricing
still the same on both the private and the public side of things? Just any color there is appreciated.
Question: Nicholas Philip Yulico - Scotiabank Global Banking and Markets, Research Division - Analyst
: Just a question on occupancy and skilled nursing. I think you said it was flat, July versus June was flat. So as operators really aren't seeing the benefit
yet of discharges from hospitals even if hospitals have returned to more elective procedures, utilization rates are going up for the public hospital
operators. So I mean, what are you guys hearing from your tenants about why occupancy is not increasing? And if they had any visibility into at
what point they should start to get some more residents coming in from a post-acute standpoint because of the hospital system in the U.S. coming
back closer to pre COVID levels?
Question: Nicholas Philip Yulico - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. And so I guess the follow-up to that would be what the latest discussions are with your operators? Or any of them asking for some sort of
rent deferral or change in lease terms because of this issue? And I guess, how are you guys thinking about the level of government aid that's been
given to the sector? How long does that give operators a lifeline if occupancy is not coming back?
Question: Nicholas Philip Yulico - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. And just a follow-up to that. I know the question was asked about the cash accounting, but besides those tenants that are on cash accounting,
are there -- have there been any deferrals that have been given to tenants so far?
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