The real estate investment trust reported Q1 FFO of $0.34 per share, missing estimates as revenue plunged to $2.7M.
Strawberry Fields REIT posted Q1 funds from operations of $0.34 per share, missing expectations by $0.03. Revenue totaled $2.7M, a sharp decline from the anticipated $37.61M, reflecting weaker-than-expected performance.
The company reported FFO of $20.9 million and $18.3 million for the quarter, with FFO per share at $0.38 and $0.33, respectively. Adjusted funds from operations stood at $18.8 million and $16.8 million, highlighting a drop in core earnings.
The results underscore challenges in the REIT’s operational performance amid broader market conditions.