Welcome to our dedicated page for Strawberry Fields REIT news (Ticker: STRW), a resource for investors and traders seeking the latest updates and insights on Strawberry Fields REIT stock.
Strawberry Fields REIT, Inc. (NYSE American: STRW) is a self-managed and self-administered real estate investment trust that specializes in the acquisition, ownership, and triple-net leasing of skilled nursing facilities and other healthcare properties. As of March 2024, the company's portfolio includes 109 healthcare facilities comprising 99 skilled nursing facilities, eight assisted living facilities, and two long-term acute care hospitals with an aggregate of 12,449 beds, located throughout Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee, and Texas.
Strawberry Fields REIT has shown resilient growth through strategic acquisitions and robust financial performance. Notably, the company completed a $102 million acquisition of 24 healthcare facilities in Indiana in 2023, and it aims to continue this momentum into 2024 by expanding its portfolio with new and existing operators. The company's financial condition remains strong, with a focus on generating sufficient cash flows to service its outstanding indebtedness and maintain its REIT status.
Strawberry Fields' business model revolves around triple-net leasing, where tenants are responsible for property-related expenses, including maintenance, insurance, and taxes. This model has enabled the company to maintain steady rent collections and increase dividends consistently. In November 2023, the Board of Directors declared a cash dividend of $0.12 per share, reflecting the company's commitment to providing shareholder returns.
The company has also announced a share repurchase program of up to $5 million, emphasizing its belief that the current share price does not reflect the true value of the company. This initiative, alongside other strategic moves, aligns with the company's focus on delivering long-term growth and shareholder value.
With a dual listing on the Tel Aviv Stock Exchange, Strawberry Fields REIT has broadened its investor base, attracting institutional Israeli investment companies. This dual listing complements its existing presence on the NYSE American, further enhancing its market visibility and investor reach.
Overall, Strawberry Fields REIT, Inc. stands out as a significant player in the healthcare real estate sector, with a well-diversified portfolio, strategic growth initiatives, and a commitment to shareholder value.
Strawberry Fields REIT (NYSE AMERICAN:STRW) has completed the acquisition of eight healthcare facilities in Missouri for $87.5 million. The facilities, comprising 1,111 beds, are currently leased to third-party tenants under an existing master lease agreement generating $8.9 million in annual rent on a triple net basis. This marks the company's first entry into Missouri, expanding its geographical footprint with a strong local third-party operator. The company views this as a model acquisition that aligns with their disciplined growth strategy.
Strawberry Fields REIT (NYSE AMERICAN:STRW) has priced an underwritten public offering of 3,333,334 shares of common stock, expecting to raise approximately $35 million in gross proceeds. The offering is set to close on December 6, 2024, with underwriters having a 30-day option to purchase up to an additional 500,000 shares.
The company plans to contribute most net proceeds to Strawberry Fields Realty, LP, its operating partnership, to finance new investments. A portion will be used to pay down existing debt and for general corporate purposes. The offering is led by Janney Montgomery Scott as lead book-running manager, with Lake Street Capital Markets, Wedbush Securities, and Compass Point Research & Trading as joint book-running managers.
Strawberry Fields REIT (NYSE American:STRW) has announced the launch of an underwritten public offering of its common stock. The company will grant underwriters a 30-day option to purchase up to an additional 15% of offered shares. Net proceeds will be contributed to Strawberry Fields Realty, LP, to finance new investments, reduce existing debt, and for general corporate purposes. Janney Montgomery Scott leads as book-running manager, with Lake Street Capital Markets, Wedbush Securities, and Compass Point Research & Trading as joint book-running managers, and Colliers Securities as co-manager.
Strawberry Fields REIT (NYSE:STRW) reported Q3 2024 results with notable growth across key metrics. The company achieved 100% rent collection and completed strategic acquisitions, including two skilled nursing facilities near San Antonio for $15.25M and a combined skilled nursing/assisted living facility near Nashville for $6.7M. Financial highlights include Q3 2024 FFO of $15.2M (vs $12.0M in Q3 2023), AFFO of $14.3M (vs $11.5M), and net income of $6.9M (vs $4.7M). Rental income increased to $29.5M (vs $25.8M). The company declared a $0.14 per share dividend payable December 30, 2024.
Strawberry Fields REIT (NYSE AMERICAN:STRW) has scheduled its third quarter 2024 earnings release for November 11, 2024, before market opening. The company will host a conference call and webcast at 9:00 a.m. Eastern Time on the same day to discuss the results. U.S. participants can join via phone using the dial-in number 888-506-0062 with conference ID 542004. A webcast will be available, and a digital replay will be accessible on the company's website.
Strawberry Fields REIT (NYSE American: STRW) has announced its participation in the 17th annual LD Micro Main Event on October 30th, 2024, at 10:00 AM PT. The event will take place at the Luxe Sunset Boulevard Hotel in Los Angeles. Moishe Gubin, Chairman & CEO, and Jeffrey Bajtner, Chief Investment Officer, will represent the company.
The LD Micro Main Event XVII, running from October 28th to 30th, is a significant gathering for small and micro-cap companies. It will feature around 150 companies presenting in half-hour increments and attending private meetings with investors. Strawberry Fields REIT invites individual and institutional investors, advisors, and analysts to attend either in person or online.
Moishe Gubin expressed enthusiasm about reconnecting with existing investors and meeting new ones, following the company's positive experience at the LD Micro Inaugural NYC Event earlier this year. The event aims to provide a platform for companies to grow their investor base and lay the groundwork for future opportunities in the small and micro-cap sector.
Strawberry Fields REIT (NYSE AMERICAN:STRW) has entered into a Purchase and Sale Agreement for eight healthcare facilities in Missouri on October 8, 2024. The acquisition, valued at $87,500,000, is expected to close before year-end, subject to conditions. The facilities, comprising 1,111 licensed beds, are currently leased to third-party tenants under a master lease agreement on a triple net basis.
The company plans to finance the purchase using its current working capital and funds from a third-party lender. While Strawberry Fields REIT anticipates closing the deal by year-end, they caution that there's no assurance of the closing occurring within this timeframe or at all, as the acquisition is subject to substantial closing conditions.
Strawberry Fields REIT (NYSE AMERICAN:STRW) has announced the completion of a $6.7 million acquisition of a healthcare facility in Gainesboro, Tennessee. The property includes an 83-bed Skilled Nursing Facility and a 28-room Assisted Living Facility. This acquisition has been incorporated into an existing Infinity of Tennessee Master Lease and is expected to increase the Company's annual rents by $670,000, with a 3% annual increase provision. This marks Strawberry Fields REIT's 15th facility in Tennessee, further expanding its presence in the state's healthcare real estate market.
Strawberry Fields REIT (NYSE AMERICAN:STRW) has completed two separate acquisitions of four Skilled Nursing Facilities (SNFs) for a total of $19.25 million. The first acquisition, valued at $15.25 million, includes two SNFs in Texas with a combined 254 beds. These facilities will be leased to the Tide Group for an initial 10-year period, increasing the Company's annual rents by $1.525 million. The second acquisition, worth $4 million, comprises two SNFs in Tennessee with a total of 248 beds. This acquisition will increase annual rents by $400,000. Both leases are subject to 3% annual increases.
CEO Moishe Gubin expressed enthusiasm for the acquisitions, highlighting the company's growth in Tennessee and Texas. The transactions are expected to contribute positively to Strawberry Fields REIT's portfolio and rental income.
Strawberry Fields REIT (NYSE American: STRW) reported strong Q2 2024 results. Highlights include:
- 100% rent collection
- Renewed Indiana Master lease for 10 years with $15.5M base rent
- Completed dual listing on Tel Aviv Stock Exchange
- Acquired a 78-bed facility in Indiana for $5.85M
- Added to Russell 3000 Index
Financial results for Q2 2024 vs Q2 2023:
- FFO: $15.2M vs $12.7M
- AFFO: $14.3M vs $13.4M
- Net income: $7.0M vs $5.7M
- Rental income: $29.2M vs $21.8M
The company declared a $0.13 per share cash dividend payable on September 30, 2024.
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