2023 Q4 Form 10-Q Financial Statement
#000149315223040248 Filed on November 13, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 | 2022 Q3 |
---|---|---|---|
Revenue | $25.48M | $25.77M | $24.24M |
YoY Change | 8.1% | 6.34% | 2.92% |
Cost Of Revenue | $3.307M | $3.717M | $3.873M |
YoY Change | -9.07% | -4.03% | 15.61% |
Gross Profit | $22.17M | $22.05M | $20.36M |
YoY Change | 11.23% | 8.31% | 0.81% |
Gross Profit Margin | 87.02% | 85.58% | 84.02% |
Selling, General & Admin | $1.688M | $1.560M | -$4.370M |
YoY Change | 154.6% | -135.7% | -283.07% |
% of Gross Profit | 7.61% | 7.07% | -21.46% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $7.969M | $6.534M | $6.335M |
YoY Change | 15.48% | 3.14% | -7.19% |
% of Gross Profit | 35.94% | 29.63% | 31.11% |
Operating Expenses | $9.797M | $12.72M | $6.734M |
YoY Change | 27.27% | 88.82% | -29.62% |
Operating Profit | $12.38M | $13.06M | $17.50M |
YoY Change | 1.14% | -25.4% | 64.64% |
Interest Expense | -$6.609M | $8.433M | $7.418M |
YoY Change | 27.32% | 13.68% | -223.33% |
% of Operating Profit | -53.4% | 64.59% | 42.39% |
Other Income/Expense, Net | -$48.00K | $81.00K | -$833.0K |
YoY Change | -147.06% | -109.72% | |
Pretax Income | $5.719M | $4.704M | $9.250M |
YoY Change | -19.98% | -49.15% | 100.43% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | $714.0K | $589.0K | $1.018M |
YoY Change | -14.18% | -42.14% | 95.39% |
Net Earnings / Revenue | 2.8% | 2.29% | 4.2% |
Basic Earnings Per Share | $0.09 | $0.17 | |
Diluted Earnings Per Share | $0.11 | $0.09 | $0.17 |
COMMON SHARES | |||
Basic Shares Outstanding | 6.430M shares | 6.366M shares | 6.044M shares |
Diluted Shares Outstanding | 6.367M shares | 6.044M shares |
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 | 2022 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $12.17M | $9.540M | $13.86M |
YoY Change | -39.73% | -31.14% | 6.1% |
Cash & Equivalents | $12.17M | $9.540M | $13.86M |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | $23.33M | $24.77M | $24.33M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $35.51M | $34.31M | $38.18M |
YoY Change | -18.81% | -10.15% | 5.88% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $519.9M | $527.1M | $445.2M |
YoY Change | 17.95% | 18.41% | -5.56% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $31.62M | $31.68M | $29.30M |
YoY Change | 1.03% | 8.13% | 6.99% |
Total Long-Term Assets | $581.3M | $595.5M | $505.4M |
YoY Change | 15.5% | 17.83% | -4.58% |
TOTAL ASSETS | |||
Total Short-Term Assets | $35.51M | $34.31M | $38.18M |
Total Long-Term Assets | $581.3M | $595.5M | $505.4M |
Total Assets | $616.8M | $629.8M | $543.6M |
YoY Change | 12.76% | 15.87% | -3.91% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $16.91M | $18.60M | $14.64M |
YoY Change | 23.2% | 27.06% | 43.24% |
Accrued Expenses | $1.542M | $1.595M | $1.843M |
YoY Change | -15.88% | -13.46% | -13.72% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $18.45M | $20.20M | $16.48M |
YoY Change | 18.6% | 22.53% | 33.4% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $536.5M | $543.2M | $457.5M |
YoY Change | 17.8% | 18.72% | -7.84% |
Other Long-Term Liabilities | $14.59M | $12.53M | $10.45M |
YoY Change | 33.92% | 19.87% | 6.91% |
Total Long-Term Liabilities | $551.1M | $555.7M | $468.0M |
YoY Change | 18.18% | 18.75% | -7.55% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $18.45M | $20.20M | $16.48M |
Total Long-Term Liabilities | $551.1M | $555.7M | $468.0M |
Total Liabilities | $569.5M | $575.9M | $484.5M |
YoY Change | 14.45% | 18.88% | -13.84% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $1.232M | $1.290M | $1.413M |
YoY Change | -23.38% | -8.7% | |
Common Stock | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $7.507M | $8.357M | $6.679M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $616.8M | $629.8M | $543.6M |
YoY Change | 12.76% | 15.87% | -3.91% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 | 2022 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $714.0K | $589.0K | $1.018M |
YoY Change | -14.18% | -42.14% | 95.39% |
Depreciation, Depletion And Amortization | $7.969M | $6.534M | $6.335M |
YoY Change | 15.48% | 3.14% | -7.19% |
Cash From Operating Activities | $12.94M | $16.45M | $19.41M |
YoY Change | -4.2% | -15.24% | 196.86% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$1.000K | $102.0M | $0.00 |
YoY Change | -100.19% | -100.0% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $7.201M | -$7.098M | -$856.0K |
YoY Change | -743.52% | 729.21% | -477.09% |
Cash From Investing Activities | $7.202M | -$109.1M | -$856.0K |
YoY Change | -541.3% | 12648.71% | -98.66% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -17.40M | 60.60M | -24.34M |
YoY Change | 411.97% | -349.0% | -157.25% |
NET CHANGE | |||
Cash From Operating Activities | 12.94M | 16.45M | 19.41M |
Cash From Investing Activities | 7.202M | -109.1M | -856.0K |
Cash From Financing Activities | -17.40M | 60.60M | -24.34M |
Net Change In Cash | 2.738M | -32.08M | -5.780M |
YoY Change | -67.69% | 455.02% | -60.73% |
FREE CASH FLOW | |||
Cash From Operating Activities | $12.94M | $16.45M | $19.41M |
Capital Expenditures | -$1.000K | $102.0M | $0.00 |
Free Cash Flow | $12.94M | -$85.58M | $19.41M |
YoY Change | -0.41% | -540.85% | -72.48% |
Facts In Submission
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RealEstateTaxExpense
|
3873000 | usd |
STRW |
Facility Rent Expenses
FacilityRentExpenses
|
419000 | usd | |
STRW |
Facility Rent Expenses
FacilityRentExpenses
|
398000 | usd | |
CY2023Q3 | STRW |
Facility Rent Expenses
FacilityRentExpenses
|
147000 | usd |
CY2022Q3 | STRW |
Facility Rent Expenses
FacilityRentExpenses
|
139000 | usd |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-4437000 | usd | |
CY2022Q3 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-5100000 | usd |
us-gaap |
Operating Expenses
OperatingExpenses
|
39262000 | usd | |
us-gaap |
Operating Expenses
OperatingExpenses
|
31262000 | usd | |
CY2023Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
12715000 | usd |
CY2022Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
6734000 | usd |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
35063000 | usd | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
37710000 | usd | |
CY2023Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
13056000 | usd |
CY2022Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
17501000 | usd |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
17983000 | usd | |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
15902000 | usd | |
CY2023Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
7865000 | usd |
CY2022Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
6863000 | usd |
us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
401000 | usd | |
us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
317000 | usd | |
CY2023Q3 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
148000 | usd |
CY2022Q3 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
129000 | usd |
STRW |
Mortgage Insurance Premium
MortgageInsurancePremium
|
1253000 | usd | |
STRW |
Mortgage Insurance Premium
MortgageInsurancePremium
|
1287000 | usd | |
CY2023Q3 | STRW |
Mortgage Insurance Premium
MortgageInsurancePremium
|
420000 | usd |
CY2022Q3 | STRW |
Mortgage Insurance Premium
MortgageInsurancePremium
|
426000 | usd |
us-gaap |
Interest Expense
InterestExpense
|
19637000 | usd | |
us-gaap |
Interest Expense
InterestExpense
|
17506000 | usd | |
CY2023Q3 | us-gaap |
Interest Expense
InterestExpense
|
8433000 | usd |
CY2022Q3 | us-gaap |
Interest Expense
InterestExpense
|
7418000 | usd |
us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
982000 | usd | |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
81000 | usd | |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-10932000 | usd | |
CY2023Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
81000 | usd |
CY2022Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-833000 | usd |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-901000 | usd | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-10932000 | usd | |
CY2023Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
81000 | usd |
CY2022Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-833000 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
14525000 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
9272000 | usd | |
CY2023Q3 | us-gaap |
Profit Loss
ProfitLoss
|
4704000 | usd |
CY2022Q3 | us-gaap |
Profit Loss
ProfitLoss
|
9250000 | usd |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
12743000 | usd | |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
8252000 | usd | |
CY2023Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
4115000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
8232000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
1782000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
1020000 | usd | |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
589000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1018000 | usd |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
7325000 | usd | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
14767000 | usd | |
CY2023Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
3041000 | usd |
CY2022Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
756000 | usd |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
|
81000 | usd | |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
|
-10932000 | usd | |
CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
|
81000 | usd |
CY2022Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
|
-833000 | usd |
us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
6354000 | usd | |
us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
22872000 | usd | |
CY2023Q3 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
2589000 | usd |
CY2022Q3 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
1414000 | usd |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
2672000 | usd | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
3847000 | usd | |
CY2023Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
960000 | usd |
CY2022Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1193000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
1782000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
1020000 | usd | |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
589000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1018000 | usd |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.28 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.28 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.17 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.17 | ||
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.09 | |
CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.09 | |
CY2022Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.17 | |
CY2022Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.17 | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
6366090 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
6366090 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5925260 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5925260 | shares | |
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
6366548 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
6366548 | shares |
CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
6044230 | shares |
CY2022Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
6044230 | shares |
CY2021Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
35050000 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
15074000 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-5316000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
44808000 | usd |
CY2022Q2 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
4876000 | usd |
CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
9036000 | usd |
CY2022Q2 | us-gaap |
Profit Loss
ProfitLoss
|
5338000 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
54306000 | usd |
CY2022Q3 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
6047000 | usd |
CY2022Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
1589000 | usd |
CY2022Q3 | us-gaap |
Profit Loss
ProfitLoss
|
9250000 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
59098000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
49384000 | usd |
CY2023Q1 | us-gaap |
Dividends
Dividends
|
700000 | usd |
CY2023Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
4999000 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
2318000 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
4139000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
50142000 | usd |
CY2023Q2 | us-gaap |
Dividends
Dividends
|
700000 | usd |
CY2023Q2 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
4998000 | usd |
CY2023Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
1966000 | usd |
CY2023Q2 | us-gaap |
Profit Loss
ProfitLoss
|
5682000 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
52092000 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
52092000 | usd |
CY2023Q3 | us-gaap |
Dividends
Dividends
|
700000 | usd |
CY2023Q3 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
5158000 | usd |
CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
2960000 | usd |
CY2023Q3 | us-gaap |
Profit Loss
ProfitLoss
|
4704000 | usd |
CY2023Q3 | us-gaap |
Profit Loss
ProfitLoss
|
4704000 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
53898000 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
53898000 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
14525000 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
9272000 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
21266000 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
21657000 | usd | |
STRW |
Amortization Of Bond Issuance Costs
AmortizationOfBondIssuanceCosts
|
428000 | usd | |
STRW |
Amortization Of Bond Issuance Costs
AmortizationOfBondIssuanceCosts
|
395000 | usd | |
us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
2451000 | usd | |
us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
401000 | usd | |
us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
317000 | usd | |
us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
2270000 | usd | |
us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-243000 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
238000 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
221000 | usd | |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
81000 | usd | |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-10932000 | usd | |
STRW |
Gain Loss On Foreign Currency Translation Adjustments
GainLossOnForeignCurrencyTranslationAdjustments
|
1624000 | usd | |
us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
1232000 | usd | |
us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
1063000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
6518000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-5956000 | usd | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
238000 | usd | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
221000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
42006000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
37421000 | usd | |
STRW |
Purchase Of Real Estate Investments
PurchaseOfRealEstateInvestments
|
-108062000 | usd | |
STRW |
Payments For Proceeds From Notes Receivable
PaymentsForProceedsFromNotesReceivable
|
6500000 | usd | |
STRW |
Payments For Proceeds From Notes Receivable
PaymentsForProceedsFromNotesReceivable
|
9000000 | usd | |
us-gaap |
Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
|
1012000 | usd | |
us-gaap |
Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
|
531000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-113550000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-8469000 | usd | |
us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
808000 | usd | |
us-gaap |
Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
|
69208000 | usd | |
us-gaap |
Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
|
103588000 | usd | |
STRW |
Proceeds From Issuance Of Bonds
ProceedsFromIssuanceOfBonds
|
52382000 | usd | |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
15727000 | usd | |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
106012000 | usd | |
us-gaap |
Repayments Of Senior Debt
RepaymentsOfSeniorDebt
|
11187000 | usd | |
us-gaap |
Repayments Of Senior Debt
RepaymentsOfSeniorDebt
|
30503000 | usd | |
STRW |
Repayment Of Non Controlling Interest Redemption Liabilities
RepaymentOfNonControllingInterestRedemptionLiabilities
|
15753000 | usd | |
STRW |
Payment Of Dividends
PaymentOfDividends
|
2100000 | usd | |
us-gaap |
Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
|
15155000 | usd | |
us-gaap |
Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
|
10923000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
60860000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-43850000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-10684000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-14898000 | usd | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
45704000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
52128000 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
35020000 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
37230000 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
18186000 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
17089000 | usd | |
STRW |
Foreign Currency Translation Adjustments
ForeignCurrencyTranslationAdjustments
|
7244000 | usd | |
STRW |
Foreign Currency Translation Adjustments
ForeignCurrencyTranslationAdjustments
|
25699000 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_80B_eus-gaap--NatureOfOperations_zn4OF0vyEgp1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1. <span id="xdx_824_z1rS7uyXRlD8">Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Overview</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The Company</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">STRAWBERRY FIELDS REIT, Inc. (the “Company”) is a Maryland corporation formed in July 2019. The Company commenced operations on June 8, 2021. The Company conducts its business through a traditional UPREIT structure in which substantially all of its assets are owned by subsidiaries of Strawberry Fields Realty, LP, a Delaware limited partnership formed in July 2019 (the “Operating Partnership”). The Company is the general partner of the Operating Partnership (“OP”). The Company owns approximately <span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--StrawberryFieldsRealtyLPMember__us-gaap--AwardTypeAxis__custom--OperatingPartnershipMember_zeKJnRVAbC86" title="Equity method investment ownership percentage">12.5</span>% and <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--StrawberryFieldsRealtyLPMember__us-gaap--AwardTypeAxis__custom--OperatingPartnershipMember_z0thOaxXWRu" title="Equity method investment ownership percentage">12.0</span>% of the outstanding OP units as of September 30, 2023 and December 31, 2022, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the sole general partner of the Operating Partnership, the Company has the exclusive power under the partnership agreement to manage and conduct the business affairs of the Operating Partnership, subject to certain limited approval and voting rights of the limited partners. The Company may cause the Operating Partnership to issue additional OP units in connection with property acquisitions, compensation or otherwise. The Company became a publicly traded entity on September 21, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is engaged in the ownership, acquisition, financing and triple-net leasing of skilled nursing facilities and other post-acute healthcare properties. The Company’s portfolio consists of 98 healthcare properties with an aggregate of 12,203 licensed beds. The Company holds fee title to 97 of these properties and holds 1 property under a long-term lease. These properties are located in Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas. The Company generates substantially all of its revenues by leasing its properties to tenants under long-term leases primarily on a triple-net basis, under which the tenant pays the cost of real estate taxes, insurance and other operating costs of the facility and capital expenditures. Each healthcare facility located at its properties is managed by a qualified operator with an experienced management team.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Interim Condensed Consolidated Financial Statements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited, condensed consolidated financial statements of the Company have been prepared in accordance with GAAP for interim financial information, and the Securities and Exchange Commission (“SEC”) rules for interim financial reporting. Certain information and footnote disclosures normally included in the Condensed Consolidated financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying interim Condensed Consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the Company’s Condensed Consolidated financial position as of September 30, 2023, and the Condensed Consolidated results of operations and cash flows for the periods presented. The Condensed Consolidated results of operations for interim periods are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ending December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Variable Interest Entity</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company consolidates the Operating Partnership, a variable interest entity (“VIE”) in which the Company is considered the primary beneficiary. The primary beneficiary is the entity that has (i) the power to direct the activities that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Non-Controlling Interest</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A non-controlling interest is defined as the portion of the equity in an entity not attributable, directly or indirectly, to the primary beneficiary. Non-controlling interests are required to be presented as a separate component of equity on a Condensed Consolidated balance sheet. Accordingly, the presentation of net income is modified to present the income attributed to controlling and non-controlling interests. The non-controlling interest on the Company’s Condensed Consolidated balance sheets represents OP units not held by the Company and represents approximately <span id="xdx_90E_ecustom--NonControllingInterestOperatiingPercentage_pid_dp_uPure_c20230101__20230930_zOuX9nR5mYc7" title="Non-controlling interest operatiing percentage.">87.5</span>% and <span id="xdx_90C_ecustom--NonControllingInterestOperatiingPercentage_pid_dp_uPure_c20220101__20221231_z3L3ecERwytk" title="Non-controlling interest operatiing percentage.">88.0</span>% of the outstanding OP Units issued by the Operating Partnership as of September 30, 2023 and December 31, 2022, respectively. The holders of these OP units are entitled to share in cash distributions from the Operating Partnership in proportion to their percentage ownership of OP units. Net income is allocated to the non-controlling interest based on the weighted average of OP units outstanding during the period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis of Presentation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains its accounting records on an accrual basis in accordance with generally accepted accounting principles in the United States of America (“GAAP”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>STRAWBERRY FIELDS REIT, INC. and Subsidiaries</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
STRW |
Non Controlling Interest Operatiing Percentage
NonControllingInterestOperatiingPercentage
|
0.875 | pure | |
CY2022 | STRW |
Non Controlling Interest Operatiing Percentage
NonControllingInterestOperatiingPercentage
|
0.880 | pure |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_844_eus-gaap--UseOfEstimates_zDy2b0KKtqa7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zRxVLjhusjui">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management is required to make estimates and assumptions in the preparation of the Condensed Consolidated financial statements in conformity with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from management’s estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2023Q3 | us-gaap |
Cash
Cash
|
23000000.0 | usd |
CY2022Q4 | us-gaap |
Cash
Cash
|
40700000 | usd |
CY2022Q4 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
19400000 | usd |
STRW |
Increase Decrease Rent Percentage
IncreaseDecreaseRentPercentage
|
0.010 | pure | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84E_eus-gaap--ConcentrationRiskCreditRisk_z6XeyL0wiAsd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zYA6bgKHqcwi">Concentrations of Credit Risk</span> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash and cash equivalents, notes receivable and operating leases on owned properties. These financial instruments are subject to the possibility of loss of carrying value as a result of the failure of other parties to perform according to their contractual obligations or changes in market prices which may make the instrument less valuable. Cash and cash equivalents, restricted cash and equivalents are held with various financial institutions. From time to time, these balances exceed the federally insured limits. These balances are maintained with high quality financial institutions which management believes limits the risk.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With respect to notes receivable, the Company obtains various collateral and other protective rights, and continually monitors these rights, in order to reduce such possibilities of loss. In addition, the Company provides reserves for potential losses based upon management’s periodic review of our portfolio.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 30, 2023, the Company held five notes receivable with an outstanding balance of $<span id="xdx_90B_eus-gaap--ReceivablesNetCurrent_iI_pn5n6_c20230930_z5SxXVpcBUwh" title="Notes receivable balance outstanding">24.9</span> million. The notes have maturities ranging from 2023 through 2046, and interest rates ranging from <span id="xdx_904_eus-gaap--ReceivableWithImputedInterestEffectiveYieldInterestRate_pid_dp_uPure_c20230101__20230930__srt--RangeAxis__srt--MinimumMember_zkDJsqW1Q4bd" title="Notes receivable interest rate">2</span>% to <span id="xdx_906_eus-gaap--ReceivableWithImputedInterestEffectiveYieldInterestRate_pid_dp_uPure_c20230101__20230930__srt--RangeAxis__srt--MaximumMember_zEZXAnAQ9Dcg" title="Notes receivable interest rate">10.25</span>%. One of the notes is collateralized by tenants’ accounts receivable. All other notes receivable are uncollateralized as of September 30, 2023. As of December 31, 2022, the Company held five notes receivable for a total amount of $<span id="xdx_90C_eus-gaap--ReceivablesNetCurrent_iI_pn5n6_c20221231_zsLGvv6CnSog">19.4</span> million. As of September 30, 2023, all of these notes are paid monthly and are current. On October 25, 2023, one of these notes for $<span id="xdx_90F_eus-gaap--RepaymentsOfNotesPayable_pn5n6_c20231024__20231025__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zBIZULl4wYci" title="Repayments of notes payable">6.5</span> million was repaid in full.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2023Q3 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
24900000 | usd |
STRW |
Market Concentration Risk Description
MarketConcentrationRiskDescription
|
As of September 30, 2023 and December 31, 2022, the Company owned 97 properties and leased 1 property. The properties are located in 9 states, with 20 properties of its total properties located in Illinois (which include 4,226 skilled nursing beds or 34.6% of the Company’s total beds) and 34 properties of its total properties in Indiana (which include 3,240 skilled nursing beds or 26.6% of the Company’s total beds). Since tenant revenue is primarily generated from Medicare and Medicaid, the operations of the Company are indirectly subject to the administrative directives, rules and regulations of federal and state regulatory agencies, including, but not limited to the Centers for Medicare & Medicaid Services, and the Department of Health and Aging in all states in which the Company operates. | ||
CY2023Q3 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
25480000 | usd |
CY2022Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
25507000 | usd |
CY2023Q3 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
737712000 | usd |
CY2022Q4 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
633749000 | usd |
CY2023Q3 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
212185000 | usd |
CY2022Q4 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
194838000 | usd |
CY2023Q3 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
525527000 | usd |
CY2022Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
438911000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
|
6000000.0 | usd |
CY2023Q1 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
700000 | usd |
CY2023Q1 | us-gaap |
Area Of Land
AreaOfLand
|
34824 | sqft |
CY2023Q1 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P10Y | |
CY2023Q1 | STRW |
Annualized Base Rent
AnnualizedBaseRent
|
600000 | usd |
CY2023Q1 | STRW |
Percentage Of Annual Increase Rate
PercentageOfAnnualIncreaseRate
|
0.030 | pure |
CY2023Q3 | us-gaap |
Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
|
102000000.0 | usd |
us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
2500000 | usd | |
CY2021Q4 | us-gaap |
Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
|
55900000 | usd |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-41240000 | usd |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
14660000 | usd |
CY2021Q4 | STRW |
Other Finite Lived Intangible Assets Amortization
OtherFiniteLivedIntangibleAssetsAmortization
|
-2271000 | usd |
CY2022Q3 | us-gaap |
Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
|
55900000 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-43511000 | usd |
CY2022Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
12389000 | usd |
CY2022Q4 | us-gaap |
Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
|
55900000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-44268000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
11632000 | usd |
CY2022Q4 | STRW |
Other Finite Lived Intangible Assets Amortization
OtherFiniteLivedIntangibleAssetsAmortization
|
-2271000 | usd |
CY2023Q3 | us-gaap |
Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
|
55900000 | usd |
CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-46539000 | usd |
CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
9361000 | usd |
CY2023Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
|
70410000 | usd |
CY2023Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
|
70979000 | usd |
CY2023Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
|
212470000 | usd |
CY2023Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
|
559058000 | usd |
CY2023Q3 | STRW |
Cumulative Number Of Properties
CumulativeNumberOfProperties
|
98 | integer |
CY2022Q4 | STRW |
Cumulative Number Of Properties
CumulativeNumberOfProperties
|
79 | integer |
CY2023Q3 | STRW |
Cumulative Number Of Facilities
CumulativeNumberOfFacilities
|
107 | integer |
CY2022Q4 | STRW |
Cumulative Number Of Facilities
CumulativeNumberOfFacilities
|
83 | integer |
CY2023Q3 | STRW |
Cumulative Number Of Properties
CumulativeNumberOfProperties
|
98 | integer |
CY2022Q4 | STRW |
Cumulative Number Of Properties
CumulativeNumberOfProperties
|
79 | integer |
CY2023Q3 | STRW |
Cumulative Number Of Operational Beds
CumulativeNumberOfOperationalBeds
|
12203 | integer |
CY2022Q4 | STRW |
Cumulative Number Of Operational Beds
CumulativeNumberOfOperationalBeds
|
10332 | integer |
CY2023Q3 | STRW |
Number Of Operational Units
NumberOfOperationalUnits
|
12203 | integer |
CY2023Q3 | STRW |
Owned By Company Units
OwnedByCompanyUnits
|
106 | integer |
CY2023Q3 | STRW |
Leased By Company Units
LeasedByCompanyUnits
|
1 | integer |
CY2023Q3 | STRW |
Total Operational Units
TotalOperationalUnits
|
107 | integer |
CY2023Q3 | STRW |
Number Of Operational Units
NumberOfOperationalUnits
|
12203 | integer |
CY2023Q3 | STRW |
Owned By Company Units
OwnedByCompanyUnits
|
106 | integer |
CY2023Q3 | STRW |
Leased By Company Units
LeasedByCompanyUnits
|
1 | integer |
CY2023Q3 | STRW |
Total Operational Units
TotalOperationalUnits
|
107 | integer |
CY2023Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
|
23410000 | usd |
CY2023Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
|
94634000 | usd |
CY2023Q3 | us-gaap |
Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
|
87155000 | usd |
CY2023Q3 | STRW |
Number Of Facilities Leased And Subleased To Thirdparties
NumberOfFacilitiesLeasedAndSubleasedToThirdparties
|
1000 | integer |
CY2022Q4 | STRW |
Number Of Facilities Leased And Subleased To Thirdparties
NumberOfFacilitiesLeasedAndSubleasedToThirdparties
|
1000 | integer |
CY2023Q3 | STRW |
Number Of Operational Beds
NumberOfOperationalBeds
|
68000 | integer |
CY2022Q4 | STRW |
Number Of Operational Beds
NumberOfOperationalBeds
|
68000 | integer |
us-gaap |
Lessee Operating Lease Description
LesseeOperatingLeaseDescription
|
The lease has an initial term that expires on March 1, 2028, and has two five-year renewal options. | ||
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
296000 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
293000 | usd | |
CY2023Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
99000 | usd |
CY2022Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
99000 | usd |
CY2023Q3 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1595000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1833000 | usd |
CY2023Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1595000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1833000 | usd |
CY2023Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P4Y6M | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P5Y3M | |
CY2023Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.041 | pure |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.041 | pure |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
99000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
395000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
395000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
395000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
395000 | usd |
CY2023Q3 | STRW |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
99000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1778000 | usd |
CY2023Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
183000 | usd |
CY2023Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1595000 | usd |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
157000 | usd | |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
152000 | usd | |
CY2023Q3 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
52000 | usd |
CY2022Q3 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
55000 | usd |
CY2023Q3 | STRW |
Notes Payable Gross
NotesPayableGross
|
546460000 | usd |
CY2022Q4 | STRW |
Notes Payable Gross
NotesPayableGross
|
456791000 | usd |
CY2023Q3 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
3266000 | usd |
CY2022Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
1376000 | usd |
CY2023Q3 | us-gaap |
Notes Payable
NotesPayable
|
543194000 | usd |
CY2022Q4 | us-gaap |
Notes Payable
NotesPayable
|
455415000 | usd |
CY2023Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
|
2832000 | usd |
CY2023Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
28035000 | usd |
CY2023Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
19627000 | usd |
CY2023Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
98992000 | usd |
CY2023Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
109735000 | usd |
CY2023Q3 | STRW |
Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
|
287239000 | usd |
CY2023Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
546460000 | usd |
CY2023Q3 | STRW |
Number Of Outstanding Credit Related Instrument
NumberOfOutstandingCreditRelatedInstrument
|
42 | integer |
CY2022Q3 | STRW |
Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
|
2249000 | usd |
us-gaap |
Interest Expense Long Term Debt
InterestExpenseLongTermDebt
|
14046000 | usd | |
CY2022Q4 | STRW |
Number Of Outstanding Credit Related Instrument
NumberOfOutstandingCreditRelatedInstrument
|
40 | integer |
STRW |
Income Tax Description
IncomeTaxDescription
|
U.S. federal income tax law requires that a REIT distribute annually at least 90% of its net taxable income, excluding net capital gains, and that it pays tax at regular corporate rates to the extent that it annually distributes less than 100% of its net taxable income, including net capital gains. In addition, a REIT is required to pay a 4% nondeductible excise tax on the amount, if any, by which the distributions that it makes in a calendar year are less than the sum of 85% of its ordinary income, 95% of its capital gain net income and 100% of its undistributed income from prior years. | ||
CY2023Q3 | STRW |
Percentage Of Three Escalation Commencing
PercentageOfThreeEscalationCommencing
|
0.223 | pure |
CY2023Q3 | STRW |
Percentage Of Four Escalation Commencing
PercentageOfFourEscalationCommencing
|
0.228 | pure |
CY2023Q3 | STRW |
Percentage Of Annual Escalation Commencing
PercentageOfAnnualEscalationCommencing
|
0.02 | pure |
us-gaap |
Proceeds From Rents Received
ProceedsFromRentsReceived
|
40616000 | usd | |
us-gaap |
Proceeds From Rents Received
ProceedsFromRentsReceived
|
40328000 | usd | |
CY2023Q3 | us-gaap |
Proceeds From Rents Received
ProceedsFromRentsReceived
|
14330000 | usd |
CY2022Q3 | us-gaap |
Proceeds From Rents Received
ProceedsFromRentsReceived
|
13099000 | usd |
STRW |
Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
|
4460000 | usd | |
STRW |
Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
|
5914000 | usd | |
CY2023Q3 | STRW |
Interest Expenses With Respect To Bonds
InterestExpensesWithRespectToBonds
|
1803000 | usd |
us-gaap |
Interest Expense Long Term Debt
InterestExpenseLongTermDebt
|
10349000 | usd | |
CY2023Q3 | us-gaap |
Interest Expense Long Term Debt
InterestExpenseLongTermDebt
|
6161000 | usd |
CY2022Q3 | us-gaap |
Interest Expense Long Term Debt
InterestExpenseLongTermDebt
|
4975000 | usd |
STRW |
Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
|
54000 | usd | |
STRW |
Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
|
60000 | usd | |
CY2023Q3 | STRW |
Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
|
17000 | usd |
CY2022Q3 | STRW |
Interest Expenses With Respect To Leases
InterestExpensesWithRespectToLeases
|
19000 | usd |
STRW |
Other Financing Expenses Including Related Parties Net
OtherFinancingExpensesIncludingRelatedPartiesNet
|
247000 | usd | |
STRW |
Other Financing Expenses Including Related Parties Net
OtherFinancingExpensesIncludingRelatedPartiesNet
|
97000 | usd | |
CY2023Q3 | STRW |
Other Financing Expenses Including Related Parties Net
OtherFinancingExpensesIncludingRelatedPartiesNet
|
150000 | usd |
CY2022Q3 | STRW |
Other Financing Expenses Including Related Parties Net
OtherFinancingExpensesIncludingRelatedPartiesNet
|
38000 | usd |
us-gaap |
Financing Interest Expense
FinancingInterestExpense
|
18807000 | usd | |
us-gaap |
Financing Interest Expense
FinancingInterestExpense
|
16420000 | usd | |
CY2023Q3 | us-gaap |
Financing Interest Expense
FinancingInterestExpense
|
8131000 | usd |
CY2022Q3 | us-gaap |
Financing Interest Expense
FinancingInterestExpense
|
7281000 | usd |
STRW |
Financing Income Expense
FinancingIncomeExpense
|
824000 | usd | |
STRW |
Financing Income Expense
FinancingIncomeExpense
|
518000 | usd | |
CY2023Q3 | STRW |
Financing Income Expense
FinancingIncomeExpense
|
266000 | usd |
CY2022Q3 | STRW |
Financing Income Expense
FinancingIncomeExpense
|
418000 | usd |
us-gaap |
Interest Expense Other
InterestExpenseOther
|
17983000 | usd | |
us-gaap |
Interest Expense Other
InterestExpenseOther
|
15902000 | usd | |
CY2023Q3 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
7865000 | usd |
CY2022Q3 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
6863000 | usd |