Strawberry Fields REIT reports Q3 loss on foreign currency headwinds
STRW•Strawberry Fields REIT reported a Q3 net loss of $14.76 million, mainly due to a $24.6 million foreign currency transaction loss related to bond retirements. Rental revenue rose 0.7% year over year, and the company expects to close a $15 million Indiana facility acquisition before year-end.
1. Quarterly results
Strawberry Fields REIT reported a Q3 net loss of $14.76 million, mainly due to a $24.6 million foreign currency transaction loss related to bond retirements. Adjusted FFO was $18.78 million, while FFO was negative $3.63 million.
2. Revenue and costs
Rental revenue increased 0.7% year over year, driven by income from newly acquired properties and lease renewals, partly offset by property sales. General and administrative expenses rose 28%, mainly due to higher executive compensation and professional fees.
3. Acquisitions and outlook
The company completed a hospital campus acquisition in Missouri and agreed to buy an Indiana facility for $15 million, which it expects to close before year-end. It targets $100 million to $150 million in acquisitions in 2026, contingent on pending transactions closing, and remains focused on skilled nursing facilities with long-term, triple-net leases.
