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) reported strong financial results for the year ending December 31, 2022. Key highlights include Funds From Operations (FFO) of $45.0 million, a significant increase from $32.1 million in 2021. Adjusted FFO rose to $51.1 million from $43.9 million. Net income surged to $16.4 million, compared to $8.4 million in the previous year. Rental income also increased to $82.2 million. The company acquired a skilled nursing facility in January 2023 for $6.0 million. A cash dividend of $0.11 per share was declared, payable on March 31, 2023. The stock began trading on the NYSE American exchange on February 22, 2023.
Strawberry Fields REIT (OTCQX:STRW) announced its upcoming transition to trade on the New York Stock Exchange American (NYSE American) starting February 22, 2023. This shift marks a significant milestone as the company aims for enhanced market presence after operating on the OTCQX since September 2022. Founded in 2004, Strawberry Fields REIT has grown its portfolio to 86 skilled nursing and assisted living facilities across nine states, demonstrating a commitment to careful expansion. The leadership emphasizes this achievement as a testament to their hard work and dedication to meet the needs of a growing U.S. population.
Strawberry Fields REIT (OTCQX:STRW) announced the acquisition of a skilled nursing facility in Jackson, Kentucky, expanding its footprint in the Midwest and South. The Landmark of Breathitt County Rehabilitation & Nursing Center, a 120-bed facility, is the only skilled nursing property in Breathitt County and was recently renovated in 2021. This acquisition is part of Strawberry Fields' strategy to enhance quality access to skilled nursing services. CEO Moishe Gubin highlighted confidence in the management capabilities of its tenant, A&M Healthcare Investments, further strengthening their partnership.
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