Moishe Gubin, President and CEO Strawberry Fields REIT, Inc. (NYSE American: STRW), sat down for a video interview at Nareit’s REITWeek: 2024 investor conference, held June 3-6 in New York.
Gubin highlighted the REIT’s achievement in maintaining a strong financial position, with earnings reflecting consistent rent collections at 100%. He pointed to the addition of new tenants and properties, which led to an increase in adjusted funds from operations (AFFO) of approximately $1.80 per share year over year.
Addressing investors’ concerns, Gubin highlighted the REIT’s stringent criteria for tenant selection and its focus on experienced professionals able to manage challenges such as recent regulatory changes impacting minimum staffing requirements.
Looking ahead, Gubin outlined Strawberry Fields’ strategic growth plans for the remainder of 2024 and 2025. The company remains disciplined in its expansion, focusing on large-scale portfolio acquisitions in new states and expanding existing master leases. Recent investments in Texas and Indiana reflect this strategy, with ongoing development in Tennessee and Kentucky expected to provide further contributions.
Despite current pipeline estimates of $30 to $55 million, Gubin said he is prepared to capitalize on opportunities that align with the REIT’s growth objectives. Overall, he expressed confidence in weathering market volatility, saying, “Ultimately, our focus remains on sustainable growth and resilience amid the changing dynamics of the industry.”
