Strawberry Fields REIT, Inc. (NYSE AMERICAN: STRW) reported first-quarter 2026 financial results showing improvements in key operating metrics, including a rise in funds from operations (FFO) and net income, while also advancing plans for a $300 million corporate credit facility.
The company reported FFO of $20.9 million, or $0.38 per share, compared to $18.3 million, or $0.33 per share, in the same quarter last year. Adjusted FFO (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 in the prior-year quarter. Rental income grew to $40.0 million, up from $37.3 million. The company also collected 100% of contractual rents during the quarter.
Notably, Strawberry Fields signed a term sheet for a $300 million corporate credit facility that is expected to close in the second quarter. The facility will be used to refinance existing debt and support future acquisition growth. According to the company, the credit facility will provide additional financial flexibility to expand its portfolio of healthcare properties.
Strawberry Fields is a self-administered real estate investment trust (REIT) that focuses on the ownership, acquisition, development, and leasing of skilled nursing and other healthcare-related properties. As of the latest report, the company's portfolio includes 143 healthcare facilities with an aggregate of more than 15,600 beds. These facilities are located across 10 states: Arkansas, Illinois, Indiana, Kansas, Kentucky, Missouri, Ohio, Oklahoma, Tennessee, and Texas. The portfolio comprises 131 skilled nursing facilities, 10 assisted living facilities, and two long-term acute care hospitals.
The results underscore the company's continued operational performance in the healthcare real estate sector. The announcement of the upcoming credit facility signals management's confidence in pursuing further expansion opportunities. Investors and industry observers will likely monitor the closing of the credit facility and subsequent acquisition activity as indicators of the company's growth trajectory.
For more information about Strawberry Fields REIT, including the full press release, visit https://nnw.fm/C5Ked. The latest news and updates relating to STRW are available in the company’s newsroom at https://nnw.fm/STRW.
