In This Story
Strawberry Fields REIT Inc. (STRW-0.04%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, including a 17.3% increase in rental revenues, reaching $117.1 million, compared to $99.8 million in the previous year.
Depreciation and amortization expenses rose to $33.7 million from $29.2 million, reflecting the company's acquisition activities and real estate investments.
Net income attributable to common stockholders increased to $4.1 million, up from $2.5 million in the previous year, resulting in a basic and diluted income per common share of $0.57.
The company completed several acquisitions during the year, including properties in Indiana, Texas, and Tennessee, expanding its portfolio to 114 properties with 14,540 licensed beds.
Strawberry Fields REIT Inc. reported a total of $673.9 million in outstanding debt, with a mix of HUD-guaranteed loans, commercial bank loans, and bonds.
The company maintains a diversified portfolio across eleven states, with significant holdings in Indiana and Illinois, accounting for 36.2% and 17.7% of its properties, respectively.
Related party transactions were highlighted, with 67 of its facilities leased to tenants affiliated with board members, accounting for 55.2% of the company's rental income.
The company remains committed to maintaining its REIT status, requiring the distribution of at least 90% of its annual REIT taxable income to stockholders.
Strawberry Fields REIT Inc. continues to focus on acquiring healthcare properties, with plans to diversify its tenant base and reduce reliance on related party tenants.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Strawberry Fields REIT Inc. annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.