OOHIOmega Healthcare Investors, Inc.

Omega Healthcare owns nursing homes and leases them to operators who live on government reimbursement.

The trust does not run the care — it owns the buildings and receives rent under long leases in which the tenant bears taxes, insurance and upkeep. Demand is structural: the number of people over eighty is growing while almost no new homes are built.

The vulnerability lies in the tenant's nature: a care home operator lives on government programme reimbursement, and a change to it or rising staffing costs can leave it unable to pay rent. Such a trust therefore periodically has troubled tenants and transfers properties to other operators. The dividend is high, and its durability depends on precisely that.