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STRW NYSE AM· Strawberry Fields REIT Inc.
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STRW NYSE AM· Strawberry Fields REIT Inc.
Earnings report Q3 2023

STRW Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

STRW reported total revenues of $25.77 million for the three months ended September 30, 2023, representing an increase of 6.2% compared to the same period last year. The majority of the revenue came from rental revenues, which amounted to $25.77 million for the quarter.

Strengths

STRW demonstrated strong revenue growth in the latest quarter, with rental revenues increasing by 6.2% compared to the same period last year. This growth can be attributed to the company's effective management of its real estate investments and its ability to attract tenants. Additionally, STRW's management commented that the increase in rental revenues was driven by higher occupancy rates and favorable lease terms.

Challenges

Despite the overall positive performance, STRW faced certain challenges in the latest quarter. The company reported a loss on real estate investment impairment of $2.45 million, which impacted its overall profitability. Additionally, general and administrative expenses increased to $1.56 million, compared to $0.73 million in the same period last year. This increase in expenses may pose a challenge to the company's profitability in the future.

Noteworthy

It is worth mentioning that STRW reported a provision for credit losses of $4.44 million in the same quarter last year, which was not present in the current quarter. This indicates an improvement in the company's credit quality and a reduction in potential credit losses.

Summary

STRW delivered a strong performance in the latest quarter, with a 6.2% increase in rental revenues. The company's effective management of its real estate investments and favorable lease terms contributed to this growth. However, STRW faced challenges in the form of a loss on real estate investment impairment and increased general and administrative expenses. Overall, the company's revenue growth and improved credit quality are positive indicators for its future prospects.

Source documents

Form 10-Q  filed on Nov 13, 2023
6 pages scanned

Reference data

Company financials Q3 revenue 25.5M
Analyst estimates Q3 EPS missed by NaN%
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