Financial Performance - For the third quarter ended September 30, 2024, the Company reported Funds From Operations (FFO) of $15.2 million, a 26.3% increase from $12.0 million in the same quarter of 2023[5] - Adjusted Funds From Operations (AFFO) for the third quarter was $14.3 million, up 24.3% from $11.5 million year-over-year[6] - Net income increased to $6.9 million for Q3 2024, representing a 46.8% rise from $4.7 million in Q3 2023[11] - For the nine months ended September 30, 2024, FFO was $44.6 million, a 24.0% increase from $35.8 million in the same period of 2023[6] Revenue and Income - Rental income for Q3 2024 was $29.5 million, a 14.3% increase compared to $25.8 million in Q3 2023[6] - The Company achieved 100% collection of contractual rents during the quarter[2] Acquisitions - The Company completed the acquisition of two skilled nursing facilities for $15.25 million, funded by cash from the balance sheet, with an annual base rent of $1.5 million and 3% annual rent increases[4] - A second acquisition of an 83-bed skilled nursing facility and a 23-bed assisted living facility was completed for $6.7 million, with annual rent set at $670 thousand[5] Dividends and Equity - The Company declared a cash dividend of $0.14 per share, payable on December 30, 2024[16] - The Company has established an at-the-market equity program to enhance stock liquidity and facilitate growth[3]
Strawberry Fields(STRW) - 2024 Q3 - Quarterly Results