Strawberry Fields REIT (NYSEAMERICAN:STRW) Coverage Initiated at Janney Montgomery Scott

Research analysts at Janney Montgomery Scott began coverage on shares of Strawberry Fields REIT (NYSEAMERICAN:STRW) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $12.50 price target on the stock. Janney Montgomery Scott’s price objective indicates a potential upside of 22.55% from the stock’s previous close.

Strawberry Fields REIT Trading Up 2.1 %

Strawberry Fields REIT stock opened at $10.20 on Wednesday. Strawberry Fields REIT has a 52-week low of $6.56 and a 52-week high of $12.90. The company has a market cap of $76.30 million, a price-to-earnings ratio of 20.00 and a beta of 0.22.

Insiders Place Their Bets

In other news, major shareholder Alyeska Investment Group, L.P. sold 200,000 shares of Strawberry Fields REIT stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $10.25, for a total transaction of $2,050,000.00. Following the completion of the sale, the insider now directly owns 1,050,000 shares of the company’s stock, valued at approximately $10,762,500. The trade was a 16.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Moishe Gubin bought 112,347 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average price of $10.00 per share, with a total value of $1,123,470.00. Following the purchase, the chief executive officer now owns 700,667 shares of the company’s stock, valued at approximately $7,006,670. This represents a 19.10 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 144,547 shares of company stock worth $1,483,854 in the last quarter. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Strawberry Fields REIT

Several hedge funds and other institutional investors have recently made changes to their positions in STRW. Rhumbline Advisers acquired a new position in Strawberry Fields REIT in the second quarter valued at approximately $57,000. Duncan Williams Asset Management LLC purchased a new stake in shares of Strawberry Fields REIT during the 3rd quarter worth approximately $192,000. Allspring Global Investments Holdings LLC acquired a new position in Strawberry Fields REIT in the third quarter valued at $45,000. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 purchasing an additional 2,774 shares during the last quarter. Finally, State Street Corp increased its position in shares of Strawberry Fields REIT by 4.1% during the third quarter. State Street Corp now owns 45,998 shares of the company’s stock worth $584,000 after purchasing an additional 1,796 shares in the last quarter.

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.