Here's Why Omega Healthcare Investors Inc. Slipped Today

Shares of Omega Healthcare Investors Inc. (NYSE: OHI), a real estate investment trust (REIT) focused on long-term care facilities, fell as much as 10% after the company reported third-quarter earnings this morning. A troubled operator of the company's facilities led to an unsettling writedown. After the market digested the news, though, the stock's losses narrowed to 7.9% as of 1:13 p.m. EDT.

When Omega Healthcare Investors reported three months ago, management warned that two of the 77 operators it collects rent from were having a tough time paying their bills. During the third quarter, Orianna Health Systems slipped more than 90 days into arrears, prompting the company to record $194.7 million in non-cash impairment charges.

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Source: Fool.com