Strawberry Fields REIT, Inc.

Listed Company

STRWCIK 0001782430NYSEEmerging GrowthReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$155.00M

Net Income

$7.58M

Total Assets

$885.23M

Equity

$12.11M

Shares Out

13.38M

Op. Cash Flow

$90.04M

Business

Strawberry Fields REIT, Inc. is a self-managed and self-administered real estate company that acquires, owns and triple-net leases skilled nursing facilities and other post-acute healthcare properties. It generates revenue by leasing healthcare properties to operators under long-term, triple-net lease arrangements and, from time to time, by extending loans to healthcare operators. The company conducts its activities as one operating segment, holding assets under individual and master lease agreements with related-party and independent tenants. Its portfolio comprises skilled nursing, assisted living and long-term acute care facilities leased to local, regional and national providers across eleven U.S. states.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental revenues	155	117	100	93	87
Depreciation	36	29	26	26	24
Amortization	10	5	3	3	3
General and administrative expenses	9	7	6	6	6
Property taxes	15	14	14	13	11
Facility rent expenses	609,000	727,000	559,000	532,000	735,000
Total expenses	71	56	52	43	50
Income from operations	84	61	47	50	37
Interest expense, net	−49	−33	−24	−21	−21
Amortization of deferred financing costs	−804,000	−657,000	−560,000	−504,000	−379,000
Mortgage insurance premium	−2	−2	−2	−2	−2
Total interest expense	−51	−35	−27	−23	−23
Other (loss) income	−28,000	10,000	−983,000	120,000	−5
Total other (loss) income	−28,000	10,000	−521,000	−11	—
Net income	33	27	20	16	8
Net income attributable to non-controlling interest	−26	−22	−18	−15	−3
Net income attributable to common shareholders	8	4	2	2	393,000
(Loss) gain due to foreign currency translation	−35	431,000	2	14	−7
Comprehensive income attributable to non-controlling interest	27	−620,000	−1	−22	7
Comprehensive (loss) income	−447,000	4	3	5	−469,000
Basic income per common share	0.6	0.57	0.39	0.31	0.07
Diluted income per common share	0.6	0.57	0.39	0.31	—
Weighted average number of common shares outstanding, Basic	13	7	6	6	6
Weighted average number of common shares outstanding, Diluted	13	7	6	6	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Real estate investments, net	687	609	518	439	463
Cash and cash equivalents	32	48	12	20	26
Restricted cash and equivalents	35	45	26	26	26
Straight-line rent receivable, net	35	28	23	24	23
Right of use lease asset	851,000	1	2	2	2
Goodwill, other intangible assets and lease rights	68	28	9	12	—
Deferred financing expenses	5	6	6	6	5
Notes receivable, net	21	17	—	—	—
Other assets	1	5	4	176,000	465,000
Total Assets	885	788	617	547	570
Accounts payable and accrued liabilities	22	19	17	14	21
Bonds, net	331	210	100	74	193
Note payable	43	—	436	381	309
Senior debt	417	461	—	—	—
Operating lease liability	851,000	1	2	2	2
Other liabilities	21	14	15	11	10
Total Liabilities	835	704	570	498	535
Commitments and Contingencies (Notes 8 and 14)	—	—	—	—	—
Preferred stock, $.0001 par value, 100,000,000 shares authorized, no shares issued and outstanding	—	—	—	—	—
Common stock, $.0001 par value, 500,000,000 shares authorized, 13,257,425 and 12,062,309 shares issued and outstanding in 2025 and 2024	1,000	1,000	—	—	—
Additional paid in capital	19	17	6	6	4
Accumulated other comprehensive (loss) income	−8	340,000	529,000	386,000	−2
Retained earnings	1	1	1	2	393,000
Total Stockholders Equity	12	18	8	8	2
Non-controlling interest	38	65	40	42	33
Total Equity	51	84	47	49	35
Total Liabilities and Equity	885	788	617	547	570

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	46	34	29	29	27
Stock based compensation	2	—	—	—	250,000
Amortization of bond issuance costs	3	629,000	558,000	1	1
Loss from sale of real estate investments	12,000	—	—	—	—
Increase in other assets	−98,000	−2	—	—	—
Amortization of right of use asset	353,000	505,000	291,000	231,000	284,000
Foreign currency translation adjustments	3	3	—	—	—
Increase in straight-line rent receivables	−7	−4	200,000	−272,000	−2
Increase in accounts payable and accrued liabilities and other liabilities	9	785,000	7	−6	5
Repayment of operating lease liability	−353,000	−505,000	−291,000	−231,000	−284,000
Net cash provided by operating activities	90	59	55	51	45
Purchase of real estate investments	−110	−114	—	—	—
Purchase of lease rights	—	−24	—	—	—
(Increase) decrease in notes receivable	−2	1	—	—	—
Net cash used in investing activities	−112	−137	−106	−10	−58
Proceeds from issuance of bonds, net of issuance costs	95	117	52	—	—
Proceeds from ATM Stock Sales, net	2	3	—	—	—
Proceeds from senior debt, net of discount	—	59	69	105	—
Proceeds from equity raise, net	—	33	—	—	—
Deferred financing costs	—	−784,000	−804,000	−1	—
Repayment of bonds	−15	−10	−24	—	—
Repayment of senior debt	−43	−37	−14	−33	−17
Repayment of note payable	−8	—	—	—	—
Non-controlling interest distributions	−26	−23	−21	−11	—
Payment of dividends	−8	−4	−3	−637,000	—
OP Unit Retirement	−2	—	—	—	—
Common stock retirement	−652,000	−2	−46,000	—	—
Net cash (used in) provided by financing activities	−5	133	43	−47	24
(Decrease) increase in cash and cash equivalent and restricted cash and equivalents	−27	56	−8	−6	10
Cash paid during the year for interest	48	34	24	22	19
Foreign currency translation adjustments	−35	431,000	1	25	2
Note payable assumed in exchange for acquisition of intangible asset	51	—	—	—	—
Transfer of other assets to real estate investments, net	4	—	—	—	—
OP units issued for property acquisition	2	—	—	—	—
Note receivable from sale of real estate investments	2	—	—	—	—
Right of use lease asset obtained in exchange for operating lease liabilities	—	3	—	—	—
Assumption of note payable and other debt for property acquisition	—	3	—	—	—
Common shares issued for property acquisition	—	3	—	—	—
Right of use lease asset and lease liability terminated	—	3	—	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro