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STOCKHOLDERS EQUITY
12 Months Ended
Dec. 31, 2025
Stockholders Equity [Abstract]  
STOCKHOLDERS EQUITY

NOTE 18 – STOCKHOLDERS’ EQUITY

Stock Repurchase Program

On January 27, 2022, the Company authorized the repurchase of up to $500 million of our outstanding common stock from time to time, which expired in March 2025. Omega did not repurchase any of its outstanding common stock under this announced program during 2023, 2024 or 2025.

At-The-Market Offering Program

During the second quarter of 2021, we entered into a new “at-the-market” (“ATM”) Equity Offering Sales Agreement pursuant to which shares of common stock having an aggregate gross sales price of up to $1.0 billion (the “2021 ATM Program”) could be sold.

During the third quarter of 2024, we terminated the 2021 ATM Program and entered into a new ATM Equity Offering Sales Agreement pursuant to which shares of common stock having an aggregate gross sales price of up to $1.25 billion (the “2024 ATM Program”) could be sold.

During the fourth quarter of 2025, we terminated the 2024 ATM Program and entered into a new ATM Equity Offering Sales Agreement pursuant to which shares of common stock having an aggregate gross sales price of up to $2.0 billion (the “2025 ATM Program,” and together with the 2024 ATM Program and the 2021 ATM Program, the “ATM Program”) may be sold from time to time (i) by Omega through several financial institutions acting as a sales agent or directly to the financial institutions as principals, or (ii) by several financial institutions acting as forward sellers on behalf of any forward purchasers pursuant to a forward sale agreement. Under the 2025 ATM Program, compensation for sales of the shares will not exceed 2% of the gross sales price per share for shares sold through each financial institution. The use of forward sales under the 2025 ATM Program generally allows Omega to lock in a price on the sale of shares of common stock when sold by the forward sellers but defer receiving the net proceeds from such sales until the shares of our common stock are issued at settlement on a later date. We did not utilize the forward provisions under the ATM Program during 2025, 2024 or 2023. The following is a summary of the shares issued under our ATM Program for each of the years ended December 31, 2025, 2024 and 2023 (in thousands except average price per share):

Average Net Price

Period Ended

Shares issued

Per Share(1)

Gross Proceeds

Net Proceeds

December 31, 2025

7,493

$

36.97

$

280,887

$

277,031

December 31, 2024

28,714

36.49

1,058,080

1,047,767

December 31, 2023

7,243

30.25

221,732

219,140

(1)Represents the average price per share after commissions.

Dividend Reinvestment and Common Stock Purchase Plan

We have a Dividend Reinvestment and Common Stock Purchase Plan (the “DRCSPP”) that allows for the reinvestment of dividends and the optional purchase of our common stock. The table below presents information regarding the shares issued under the DRCSPP for each of the years ended December 31, 2025, 2024, and 2023 (in thousands):

Period Ended

Shares issued

Gross Proceeds

December 31, 2025

8,783

$

331,243

December 31, 2024

5,078

187,969

December 31, 2023

3,715

117,259

Dividends

The Board of Directors has declared common stock dividends as set forth below:

Record Date

  ​ ​ ​

Payment Date

  ​ ​ ​

Dividend per Common Share

February 10, 2025

February 18, 2025

$

0.67

May 5, 2025

May 15, 2025

0.67

August 4, 2025

August 15, 2025

0.67

November 3, 2025

November 17, 2025

0.67

February 9, 2026

February 17, 2026

0.67

Per Share Distributions

Per share distributions by our Company were characterized in the following manner for income tax purposes (unaudited):

Year Ended December 31, 

Common

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

Ordinary income

$

2.255

$

1.862

$

2.258

Return of capital

 

0.214

 

0.712

 

0.212

Capital gains

 

0.211

 

0.106

 

0.210

Total dividends paid

$

2.680

$

2.680

$

2.680

Pursuant to Treasury Regulation Section 1.1061-6(c), Omega Healthcare Investors Inc. is disclosing the following information to its shareholders. “One Year Amounts Disclosure” is zero percent of the capital gain distributions allocated to each shareholder and “Three Year Amounts Disclosure” is zero percent of the capital gain distributions allocated to each shareholder. All capital gain distributions reported are related to Section 1231 gain.

For additional information regarding dividends, see Note 17 – Taxes.

Accumulated Other Comprehensive Income (Loss)

The following is a summary of our accumulated other comprehensive income (loss), net of tax as of December 31, 2025 and 2024:

December 31, 

December 31,

2025

  ​ ​ ​

2024

(in thousands)

Foreign currency translation

20,353

  ​ ​ ​

(66,110)

Derivative instruments designated as cash flow hedges(1)

66,916

76,713

Derivative instruments designated as net investment hedges

 

(6,794)

 

11,898

Total accumulated other comprehensive income before noncontrolling interest

 

80,475

 

22,501

Add: portion included in noncontrolling interest

 

(1,438)

 

230

Total accumulated other comprehensive income for Omega

$

79,037

$

22,731

(1)

During the years ended December 31, 2025, 2024 and 2023, we reclassified $5.5 million, $9.6 million and $6.7 million, respectively, of net realized gains out of accumulated other comprehensive income into interest expense or other income - net on our Consolidated Statements of Operations associated with our cash flow hedges.