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: Nicholas Philip Yulico - Scotiabank Global Banking and Markets, Research Division - Analyst
: Just a question on skilled nursing occupancy. I mean you did talk about how it's been a bit of a challenge for occupancy to come back for operators.
Maybe you could just talk about what you're hearing from your operators about why that delay is happening. We have seen elective surgeries
picking up again in the U.S. hospital system and yet it doesn't seem like that's really creating a bigger flow of discharge to skilled nursing and
post-acute rehab yet.
Question: Nicholas Philip Yulico - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. That's helpful. Second question is just on the acquisition market right now. I mean, are you seeing much in the way of opportunities? And I
mean, how is -- how does underwriting work in a COVID world for -- if you're looking particularly to buy, let's say, skilled nursing?
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OCTOBER 30, 2020 / 2:00PM, OHI.N - Q3 2020 Omega Healthcare Investors Inc Earnings Call
Question: Nicholas Philip Yulico - Scotiabank Global Banking and Markets, Research Division - Analyst
: Any pricing change that you guys are seeing? I mean, is it an attractive time if you want to be buying skilled nursing? Others have talked about
that pricing has gotten more attractive on the senior housing side. What about skilled nursing?
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: First question on skilled mix. I mean it seems to be sequentially improving still and a little unsure of how to look at this going forward. So I mean,
is this a trend that has just been exacerbated by the pandemic? Or is it something that we should expect to moderate over time? So any detail...
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay, and one other. Looking at EBITDAR coverage, above 1x during Q2, and then given some of the occupancy declines we had seen, maybe
worse in some markets than others, I mean, could you help build the bridge here and then maybe outline some of the factors that were supporting
coverage during Q2?
Question: Connor Serge Siversky - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. And then -- and one last quick one for me. Looking at some news in regard to state budgets, reduction in tax revenues in a lot of cases, is this
a concern for you guys, something you have eyes on and just maybe offer some color on how you plan to navigate 2021 if this issue is to persist?
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