Operator Financial Solvency Challenges: The financial health and operational performance of Omega's tenant operators, particularly skilled nursing and assisted living facilities, directly impact its ability to collect rent and maintain revenue, with operator distress potentially leading to lease restructurings, defaults, or property repossessions.

Government Reimbursement Policy Changes: Omega's operators heavily rely on Medicare and Medicaid reimbursements; changes in these government programs, such as rate cuts, shifts to managed care, or altered payment models, can significantly impact operator profitability and their capacity to meet lease obligations.

Rising Interest Rate Environment: As a real estate investment trust that uses debt for acquisitions and operations, increasing interest rates can raise Omega's borrowing costs, reduce its net income, decrease the attractiveness of new investments, and potentially impact dividend sustainability.