Yesterday was a tough day for Omega Healthcare Investors (NYSE:OHI), as shares fell more than 7% after the company’s third-quarter results and earnings call. The day-long trading volume (~13 million shares) resulted in a market cap erosion of some ~$2.50 per share, or around $500 million in market value (~197 million shares outstanding).
Combined with Q1 and Q2, Omega’s Q3 results were just another “day in paradise” for the nation’s largest skilled nursing REIT. So far this year, shares have declined by almost 8%.
