Strawberry Fields REIT, Inc. (NYSE AMERICAN: STRW) reported first-quarter 2026 results demonstrating growth in key operating metrics, with funds from operations (FFO) rising to $20.9 million, or $0.38 per share, from $18.3 million, or $0.33 per share, in the prior-year quarter. Adjusted FFO (AFFO) increased to $18.8 million, or $0.34 per share, from $16.8 million, or $0.30 per share. Net income rose to $9.5 million from $7.0 million, and rental income increased to $40.0 million from $37.3 million. The company collected 100% of contractual rents during the quarter and signed a term sheet for a $300 million corporate credit facility expected to close in the second quarter to refinance debt and support acquisition growth.
The results underscore Strawberry Fields' ability to generate consistent cash flows from its portfolio of healthcare-related properties. The company's focus on skilled nursing facilities, assisted living, and long-term acute care hospitals provides a stable income stream, as demand for these services remains resilient. The 100% rent collection rate highlights the strength of its tenant relationships and the essential nature of the properties. The planned $300 million credit facility is a strategic move to optimize the capital structure, reduce borrowing costs, and provide dry powder for future acquisitions, which could enhance shareholder value.
Strawberry Fields REIT is a self-administered real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing and certain other healthcare-related properties. The Company's portfolio includes 143 healthcare facilities with an aggregate of 15,600+ beds, located throughout the states of Arkansas, Illinois, Indiana, Kansas, Kentucky, Missouri, Ohio, Oklahoma, Tennessee and Texas. The 143 healthcare facilities comprise 131 skilled nursing facilities, 10 assisted living facilities, and two long-term acute care hospitals.
For more details on the earnings release, visit https://nnw.fm/C5Ked. The latest news and updates relating to STRW are available in the company's newsroom at https://nnw.fm/STRW.
