Strawberry Fields REIT Q1 Revenue Misses Estimates, 100% Rent Collection and $300M Facility
Strawberry Fields REIT posted Q1 earnings of $0.15 per share and revenue of $40.0 million, narrowly missing estimates, while achieving 100% contractual rent collection. The REIT secured a $300 million credit facility to refinance debt and pursue a hospital campus acquisition, and declared a $0.17 dividend.
1. Q1 Financial Results
Strawberry Fields REIT posted Q1 adjusted earnings of $0.15 per share and revenue of $40.0 million, narrowly missing estimates of $0.16 per share and $40.28 million in revenue.
2. Rent Collection Performance
The healthcare REIT achieved 100% contractual rent collection, underlining tenant financial stability across its portfolio of skilled nursing facilities and hospitals.
3. Growth Financing
Strawberry Fields REIT secured a $300 million credit facility intended to refinance existing debt and fund acquisitions, including a newly contracted hospital campus purchase.
4. Financial Position and Dividend
It maintained a debt-to-equity ratio of 0.06 and a current ratio of 96.64, demonstrating ample liquidity, and declared a quarterly cash dividend of $0.17 per share.