Strawberry Fields REIT Q2 net income $5.7M, FFO $12.7M; enters $102M Indiana acquisition

Strawberry Fields REIT, Inc.

2023-Q2 EPS reported $0.19 revenue$48,554,000

Q2 2023 net income $5.7M vs $5.3M YoY; FFO $12.7M vs $12.6M; AFFO $13.4M vs $13.3M.
Rental income increased 11.6% to $24.3M due to escalations, renewals, and higher property tax collections.
Entered contract to acquire 24 healthcare facilities in Indiana for $102.0M; expects close by end of Q3 2023.
Issued Series D Bonds on Tel-Aviv Stock Exchange: NIS 82.9M ($22.9M) at 9.1% interest; additional NIS 70M in July.
Declared $0.11/share cash dividend payable Sept 29, 2023 to holders of record Sept 15, 2023.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Strawberry Fields REIT, Inc. reported six months ended June 30, 2023 results: revenue $48.6 million, net income $9.8 million.

Period: six months ended June 30, 2023
Revenue: $48.6 million
Net income: $9.8 million
Result: reported results

Exact text from the filing

and $14.6 million, respectively. ● AFFO was $26.5 million and $24.8 million, respectively. ● Net income was $9.8 million and $0.02 million, respectively. ● Rental income was $48.6 million and $44.7 million, respectively. Moishe Gubin, Chairman & CEO noted: “It has been a busy second quarter. We went into contract for the Indiana portfolio of 24 facilities and we

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Strawberry Fields REIT, Inc. reported quarter ended June 30, 2023 results: revenue $24.3 million, net income $5.7 million.

Period: quarter ended June 30, 2023
Revenue: $24.3 million
Net income: $5.7 million
Result: reported results

Exact text from the filing

and $12.6 million, respectively. ● AFFO was $13.4 million and $13.3 million, respectively. ● Net income was $5.7 million and $5.3 million, respectively. ● Rental income was $24.3 million and $21.8 million, respectively. ● For the six months ended June 30, 2023, and June 30, 2022: ● FFO was $23.8 million and $14.6 million, respectively. ● AFFO was $26.5 million

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Strawberry Fields REIT, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-028831

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