Strawberry Fields Reit Inc
AMEX:STRW
Strawberry Fields Reit Inc
Strawberry Fields REIT, Inc. engages in the ownership, acquisition, development, and leasing of skilled nursing and certain other healthcare-related properties. The company is headquartered in South Bend, Indiana and currently employs 8 full-time employees. The company went IPO on 2022-09-20. The firm specializes in the acquisition, ownership and triple-net leasing of skilled nursing facilities and other post-acute healthcare properties. Its portfolio consists of approximately 79 healthcare properties with an aggregate of approximately 10,351 licensed beds. The company holds fee title to 78 of these properties and hold one property under a long-term lease. These properties are located across Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas. Its 79 properties comprise 83 healthcare facilities, consisting of 76 stand-alone skilled nursing facilities; two dual-purpose facilities used as both skilled nursing facilities and long-term acute care hospitals, and three assisted living facilities. Its portfolios include Infinity Healthcare of Illinois, Integrity Healthcare, Infinity Healthcare of Indiana, Infinity Healthcare of Tennessee, The Landmark Group and others.
Strawberry Fields REIT, Inc. engages in the ownership, acquisition, development, and leasing of skilled nursing and certain other healthcare-related properties. The company is headquartered in South Bend, Indiana and currently employs 8 full-time employees. The company went IPO on 2022-09-20. The firm specializes in the acquisition, ownership and triple-net leasing of skilled nursing facilities and other post-acute healthcare properties. Its portfolio consists of approximately 79 healthcare properties with an aggregate of approximately 10,351 licensed beds. The company holds fee title to 78 of these properties and hold one property under a long-term lease. These properties are located across Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas. Its 79 properties comprise 83 healthcare facilities, consisting of 76 stand-alone skilled nursing facilities; two dual-purpose facilities used as both skilled nursing facilities and long-term acute care hospitals, and three assisted living facilities. Its portfolios include Infinity Healthcare of Illinois, Integrity Healthcare, Infinity Healthcare of Indiana, Infinity Healthcare of Tennessee, The Landmark Group and others.
Revenue Growth: Q3 revenue increased meaningfully due to recent acquisitions and lease transitions, reaching $114.9 million year-to-date, up $28.3 million from last year.
Dividend Raised: The board increased the dividend to $0.16 per share, a 14% rise, now representing a 5.2% yield and 100% of Q3 net income.
Acquisition Activity: Completed three facility acquisitions in Q3 totaling over $68 million; the pipeline remains strong at over $250 million.
Strong Rent Collection: Achieved 100% rent collection during the quarter, with 89% of facilities under master leases and 91.5% of the portfolio as skilled nursing facilities.
Balance Sheet Expansion: Total assets grew to $880 million, up 33.1% year-over-year, driven by acquisitions.
Profitability and Growth: Net income for Q3 was $8.8 million, up from $6.9 million last year; projected AFFO and EBITDA show double-digit growth.
Capital Structure: Net debt-to-asset ratio stands at 49.2%; Series D bond refinance expected in September 2026, likely at lower rates.
