Strawberry Fields REIT (NYSEAMERICAN:STRW) Coverage Initiated at Wedbush

Wedbush began coverage on shares of Strawberry Fields REIT (NYSEAMERICAN:STRW) in a research note released on Monday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $12.00 price target on the stock. Wedbush also issued estimates for Strawberry Fields REIT’s Q4 2024 earnings at $0.28 EPS, FY2024 earnings at $1.08 EPS and FY2025 earnings at $1.23 EPS.

Separately, Janney Montgomery Scott assumed coverage on shares of Strawberry Fields REIT in a research report on Wednesday, December 18th. They issued a “buy” rating and a $12.50 target price for the company.

Strawberry Fields REIT Price Performance

Shares of NYSEAMERICAN STRW opened at $11.06 on Monday. Strawberry Fields REIT has a 52 week low of $6.56 and a 52 week high of $12.90. The company has a market capitalization of $82.73 million, a P/E ratio of 21.69 and a beta of 0.22.

Strawberry Fields REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were issued a dividend of $0.14 per share. This is a positive change from Strawberry Fields REIT’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, December 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.06%. Strawberry Fields REIT’s dividend payout ratio is currently 101.96%.

Insider Activity at Strawberry Fields REIT

In other news, major shareholder Alyeska Investment Group, L.P. sold 200,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $10.25, for a total value of $2,050,000.00. Following the sale, the insider now directly owns 1,050,000 shares of the company’s stock, valued at approximately $10,762,500. This trade represents a 16.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Moishe Gubin acquired 17,600 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average cost of $11.99 per share, with a total value of $211,024.00. Following the transaction, the chief executive officer now directly owns 467,700 shares in the company, valued at $5,607,723. The trade was a 3.91 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 154,547 shares of company stock valued at $1,586,276. Corporate insiders own 10.60% of the company’s stock.

Institutional Trading of Strawberry Fields REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STRW. State Street Corp increased its holdings in shares of Strawberry Fields REIT by 4.1% during the 3rd quarter. State Street Corp now owns 45,998 shares of the company’s stock worth $584,000 after purchasing an additional 1,796 shares during the period. Charles Schwab Investment Management Inc. grew its position in Strawberry Fields REIT by 20.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,174 shares of the company’s stock worth $205,000 after buying an additional 2,774 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Strawberry Fields REIT during the third quarter valued at about $45,000. Rhumbline Advisers acquired a new position in Strawberry Fields REIT in the 2nd quarter valued at approximately $57,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Strawberry Fields REIT by 186.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,572 shares of the company’s stock worth $121,000 after acquiring an additional 6,233 shares during the period.

About Strawberry Fields REIT

Strawberry Fields REIT, Inc, is a self-administered real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing and certain other healthcare-related properties. The Company's portfolio includes 109 healthcare facilities with an aggregate of 12,449 bed, located throughout the states of Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas.