Strawberry Fields REIT, Inc. (NYSE AMERICAN: STRW) reported first-quarter 2026 results showing growth in key operating metrics, with FFO rising to $20.9 million, or $0.38 per share, from $18.3 million, or $0.33 per share, in the prior-year quarter, while 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, rental income increased to $40.0 million from $37.3 million, and the company collected 100% of contractual rents while also signing a term sheet for a $300 million corporate credit facility expected to close in the second quarter to refinance debt and support acquisition growth.
The strong first-quarter performance underscores the company's operational stability and strategic positioning within the skilled nursing and healthcare real estate sector. The increase in FFO and AFFO reflects not only higher rental income but also disciplined cost management and portfolio optimization. The 100% rent collection rate is particularly notable in an environment where some healthcare REITs have faced tenant challenges, highlighting the quality of Strawberry Fields' tenant base and lease structures.
The announcement of a $300 million corporate credit facility is a significant development. The facility, which is expected to close in the second quarter, will be used to refinance existing debt and support acquisition growth. This provides the company with enhanced financial flexibility to pursue accretive acquisitions and strengthen its balance sheet. As of the first quarter, Strawberry Fields' portfolio included 143 healthcare facilities with an aggregate of 15,600+ beds across ten states. The facilities comprise 131 skilled nursing facilities, 10 assisted living facilities, and two long-term acute care hospitals.
Investors should note that the company's ability to secure a large credit facility amid a tightening credit market signals lender confidence in Strawberry Fields' business model and financial discipline. The refinancing component may also reduce interest costs and extend maturities, improving the company's debt profile. With a diversified geographic footprint and a focus on essential healthcare services, Strawberry Fields is well-positioned to capitalize on demographic trends driving demand for skilled nursing and senior care.
For more details on the earnings release and the credit facility, visit the full press release at https://nnw.fm/C5Ked. For ongoing updates and investor information, visit the company's newsroom at https://nnw.fm/STRW.
