Strawberry Fields REIT Q1 FFO up 27% to $14.1M; net income rises to $6.0M

Strawberry Fields REIT, Inc.

2024-Q1 EPS reported $0.12 revenue$27,834,000

FFO $14.1M vs $11.1M YoY; AFFO flat at $13.1M; net income $6.0M vs $4.1M.
Rental income $27.8M, +14.8% YoY, driven by new Indiana and Texas master leases.
New 10-year master lease for Indiana properties with $14.5M annual base rent, 3% annual increases.
Issued additional Series D bonds raising $26.7M at ~7.7% coupon; acquired a skilled nursing facility for $5.85M.
Declared $0.13/share dividend payable June 28, 2024 to holders of record June 17.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Strawberry Fields REIT, Inc. reported the quarter ended March 31, 2024 results: revenue $27.8 million, net income $6.0 million.

Period: the quarter ended March 31, 2024
Revenue: $27.8 million
Net income: $6.0 million
Result: reported results

Exact text from the filing

For the quarters ended March 31, 2024, and March 31, 2023: ● FFO was $14.1 million and $11.1 million, respectively. ● AFFO was $13.1 million and $13.1 million, respectively. ● Net income was $6.0 million and $4.1 million, respectively. ● Rental income received was $27.8 million and $24.2 million, respectively.

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Source: SEC EDGAR

accession 0001493152-24-019022

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