Strawberry Fields REIT (NYSE AMERICAN: STRW) reported first-quarter 2026 results showing growth in key operating metrics, with 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, while 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, rental income increased to $40.0 million from $37.3 million, and the company collected 100% of contractual rents while also signing 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 improved financial performance underscores the company's ability to generate consistent cash flows from its portfolio of healthcare properties. 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.
The advancement of the $300 million corporate credit facility is a significant strategic move. Proceeds are expected to refinance existing debt and provide capital for acquisition growth, positioning the company to expand its footprint in the healthcare real estate sector. This initiative comes as the company continues to demonstrate operational strength, evidenced by 100% rent collection and rising rental income.
The results are particularly noteworthy given the broader economic environment, where healthcare real estate remains a critical asset class. Strawberry Fields' focus on skilled nursing facilities and other healthcare properties aligns with long-term demographic trends, including an aging population that drives demand for such services. By securing additional financing capacity, the company is better equipped to capitalize on acquisition opportunities and strengthen its balance sheet.
For more details, the full press release is available at https://nnw.fm/C5Ked. The latest news and updates relating to STRW are available in the company's newsroom at https://nnw.fm/STRW.
