Strawberry Fields REIT, Inc. (NYSE AMERICAN: STRW) announced first-quarter 2026 financial results, highlighting growth in funds from operations (FFO) and adjusted FFO (AFFO), along with progress on a $300 million corporate credit facility. The company reported FFO of $20.9 million, or $0.38 per share, compared to $18.3 million, or $0.33 per share, in the same quarter last year. 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 grew to $40.0 million from $37.3 million.
Strawberry Fields achieved 100% collection of contractual rents during the quarter, reflecting strong tenant performance. The company also signed a term sheet for a $300 million corporate credit facility expected to close in the second quarter. Proceeds from the facility will be used to refinance existing debt and support acquisition growth, positioning the company for further expansion.
The results underscore Strawberry Fields' ability to generate consistent cash flow and maintain high occupancy across its portfolio. As a self-administered real estate investment trust (REIT) focused on healthcare properties, the company owns 143 facilities—including 131 skilled nursing facilities, 10 assisted living facilities, and two long-term acute care hospitals—with over 15,600 beds across ten states: Arkansas, Illinois, Indiana, Kansas, Kentucky, Missouri, Ohio, Oklahoma, Tennessee, and Texas.
The successful execution of the credit facility will provide financial flexibility to pursue accretive acquisitions and reduce borrowing costs. This move is significant for the healthcare real estate sector, as it demonstrates access to capital for growth despite a challenging interest rate environment. For investors, the consistent rent collection and rising FFO indicate operational stability and potential for dividend growth.
Strawberry Fields' focus on skilled nursing and healthcare properties positions it to benefit from demographic trends, including an aging population and increased demand for long-term care. The company's ability to secure a substantial credit line suggests confidence from lenders in its business model and management team.
For more details on the financial results, visit the company's newsroom at https://nnw.fm/STRW. The full press release is available at https://nnw.fm/C5Ked.
