Strawberry Fields REIT Q2 2024 Financial Update
Ticker: STRW · Form: 10-Q · Filed: Aug 12, 2024 · CIK: 1782430
Sentiment: neutral
Topics: 10-Q, REIT, financials
TL;DR
Strawberry Fields REIT dropped its Q2 2024 10-Q, showing updated financials vs. last year.
AI Summary
Strawberry Fields REIT, Inc. filed its 10-Q for the period ending June 30, 2024. The filing provides financial data for the second quarter and the first half of 2024, comparing it to the same periods in 2023. Key financial statement items like Additional Paid-In Capital, Accumulated Other Comprehensive Income, Retained Earnings, and Noncontrolling Interest are detailed for various reporting dates.
Why It Matters
This filing provides investors with the latest financial performance and position of Strawberry Fields REIT, Inc., crucial for understanding its operational health and investment potential.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks indicated.
Key Numbers
- Q2 2024 — Reporting Period (Financials for the second quarter of 2024 are presented.)
- First half of 2024 — Reporting Period (Financials for the first six months of 2024 are presented.)
Key Players & Entities
- Strawberry Fields REIT, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240812 (date) — Filing date
FAQ
What is the primary purpose of this 10-Q filing?
The primary purpose is to provide a comprehensive update on Strawberry Fields REIT, Inc.'s financial performance and position for the quarterly period ending June 30, 2024.
What are the key financial statement components detailed in the filing?
The filing details components such as Additional Paid-In Capital, Accumulated Other Comprehensive Income, Retained Earnings, and Noncontrolling Interest.
What periods are covered by the financial data in this 10-Q?
The filing covers the second quarter of 2024 and the first half of 2024, with comparisons to the same periods in 2023.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 12, 2024.
What is the fiscal year end for Strawberry Fields REIT, Inc.?
The fiscal year end for Strawberry Fields REIT, Inc. is December 31.
Filing Stats: 4,511 words · 18 min read · ~15 pages · Grade level 17 · Accepted 2024-08-12 06:06:49
Key Financial Figures
- $0.0001 — ch registered Common stock, par value $0.0001 per share STRW NYSE American LLC
- $000 — NSOLIDATED BALANCE SHEETS (Amounts in $000's, except share data) June 30, 2024
Filing Documents
- form10-q.htm (10-Q) — 1454KB
- ex31-1.htm (EX-31.1) — 14KB
- ex31-2.htm (EX-31.2) — 14KB
- ex32-1.htm (EX-32.1) — 7KB
- ex32-2.htm (EX-32.2) — 8KB
- 0001493152-24-031111.txt ( ) — 6894KB
- strw-20240630.xsd (EX-101.SCH) — 52KB
- strw-20240630_cal.xml (EX-101.CAL) — 70KB
- strw-20240630_def.xml (EX-101.DEF) — 162KB
- strw-20240630_lab.xml (EX-101.LAB) — 362KB
- strw-20240630_pre.xml (EX-101.PRE) — 274KB
- form10-q_htm.xml (XML) — 1221KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.
Controls and Procedures
Controls and Procedures 44 PART II Other Information 45 Item 1.
Legal Proceedings
Legal Proceedings 45 Item 2. U nregistered Sales of Equity Securities 46 Item 5. Other Information 46 Item 6. Exhibits 46
Signatures
Signatures 47 2 PART I – FINANCIAL INFORMATION Item 1 - Financial Statements STRAWBERRY FIELDS REIT, INC. and Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in $000's, except share data) June 30, 2024 December 31, 2023 (unaudited) Assets Real estate investments, net $ 509,925 $ 518,314 Cash and cash equivalents 16,122 12,173 Restricted cash and equivalents 25,996 25,585 Straight-line rent receivable, net 25,269 23,334 Right of use lease asset 4,267 1,542 Goodwill, other intangible assets and lease rights 24,493 8,604 Deferred financing expenses 5,712 6,035 Notes receivable, net 17,142 17,706 Other assets 6,948 3,502 Total Assets $ 635,874 $ 616,795 Liabilities Accounts payable and accrued liabilities $ 16,648 $ 16,907 Bonds, net 122,819 100,294 Notes payable and other debt 429,050 436,192 Operating lease liability 4,267 1,542 Other liabilities 12,422 14,587 Total Liabilities $ 585,206 $ 569,522 Commitments and Contingencies (Note 8) - Equity Common stock, $ .0001 par value, 500,000,000 shares authorized, 6,898,867 shares and 6,487,856 issued and outstanding $ - $ - Preferred stock, $ .0001 par value, 100,000,000 shares authorized, 0 shares issued and outstanding - - Additional paid in capital 5,086 5,746 Accumulated other comprehensive income 1,048 529 Retained earnings 1,304 1,232 Total Stockholders' Equity $ 7,438 $ 7,507 Non-controlling interest $ 43,230 $ 39,766 Total Equity $ 50,668 $ 47,273 Total Liabilities and Equity $ 635,874 $ 616,795 See accompanying notes to condensed consolidated financial statements. 3 STRAWBERRY FIELDS REIT, INC. and Subsidiaries CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (unaudited) (Amounts in $000's, except share and per share data) 2024 2023 2024 2023 Six Months Ended June 30, Three Months Ended June 30, 2024 2023 2024 2023 Revenues Rental