Strawberry Fields REIT, Inc. reported a net income of $9.5 million for the three months ended March 31, 2026, a significant increase of 35.5% compared to $7.0 million for the same period in 2025. The company’s rental revenues rose to $40.0 million, reflecting a 7.1% increase from $37.3 million in the prior year, primarily driven by income from new acquisitions in Texas and Missouri. Total expenses for the quarter were $17.8 million, up 4.2% from $17.1 million, with notable increases in general and administrative expenses, which rose by 22.6% to $2.5 million, and depreciation expenses, which increased by 6.4% to $9.2 million.

In terms of financial position, Strawberry Fields REIT's total assets decreased slightly to $878.6 million as of March 31, 2026, down from $885.2 million at the end of 2025. The company’s real estate investments, net of depreciation, were reported at $677.9 million, a decrease from $687.2 million. On the liabilities side, total liabilities also saw a reduction to $828.0 million from $834.7 million, with a notable decrease in accounts payable and accrued liabilities, which fell to $16.1 million from $22.4 million.

Operationally, the company maintained a portfolio of 133 healthcare properties, with a total of 15,602 licensed beds across ten states. The company continues to operate under a triple-net lease structure, where tenants are responsible for property expenses, including taxes and maintenance. As of March 31, 2026, the company had cash and cash equivalents totaling $69.7 million, which provides liquidity for ongoing operations and potential acquisitions.

Looking ahead, Strawberry Fields REIT has entered into an asset purchase agreement to acquire a healthcare property with 99 licensed skilled nursing facility beds and 60 hospital beds near Marshall, Missouri, for approximately $8.6 million, pending bankruptcy court approval. The company aims to continue expanding its portfolio while managing its debt obligations, which include approximately $791.4 million in total indebtedness as of the end of the quarter. The company remains committed to maintaining its REIT status and distributing at least 90% of its taxable income to shareholders, as required by federal tax law.

About Strawberry Fields REIT, Inc.

Strawberry Fields REIT, Inc. is a self-managed real estate company specializing in acquiring, owning, and leasing healthcare properties, primarily skilled nursing facilities and post-acute care centers. Its portfolio includes over 120 properties across multiple U.S. states, leased mainly on long-term triple-net agreements. The company leverages industry relationships, operational expertise, and diversified geographic holdings to generate stable rental income and long-term growth.

This description was generated via AI from an annual report. Updated 8 months ago.

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