Wedbush Initiates Coverage on Strawberry Fields REIT (NYSEAMERICAN:STRW)

Wedbush initiated coverage on shares of Strawberry Fields REIT (NYSEAMERICAN:STRW) in a report issued on Monday, MarketBeat Ratings reports. The firm issued an outperform rating and a $12.00 price target on the stock.

Separately, Janney Montgomery Scott began coverage on Strawberry Fields REIT in a report on Wednesday, December 18th. They set a “buy” rating and a $12.50 price objective for the company.

Strawberry Fields REIT Stock Down 4.0 %

Shares of NYSEAMERICAN:STRW opened at $10.28 on Monday. The company has a market cap of $76.89 million, a price-to-earnings ratio of 20.16 and a beta of 0.22. Strawberry Fields REIT has a 1 year low of $6.56 and a 1 year high of $12.90.

Strawberry Fields REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a dividend of $0.14 per share. The ex-dividend date was Monday, December 16th. This is a positive change from Strawberry Fields REIT’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.45%. Strawberry Fields REIT’s dividend payout ratio (DPR) is 101.96%.

Insider Activity

In other Strawberry Fields REIT news, Director Jack Levine acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were bought at an average cost of $10.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director now directly owns 108,927 shares in the company, valued at $1,089,270. This represents a 4.81 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Moishe Gubin bought 17,600 shares of the stock in a transaction on Tuesday, December 3rd. The shares were bought at an average price of $11.99 per share, with a total value of $211,024.00. Following the acquisition, the chief executive officer now owns 467,700 shares of the company’s stock, valued at $5,607,723. This trade represents a 3.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 154,547 shares of company stock valued at $1,586,276. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Strawberry Fields REIT in the 3rd quarter worth approximately $45,000. Rhumbline Advisers acquired a new stake in Strawberry Fields REIT in the second quarter valued at approximately $57,000. Barclays PLC grew its holdings in Strawberry Fields REIT by 302.3% in the third quarter. Barclays PLC now owns 8,697 shares of the company’s stock worth $110,000 after purchasing an additional 6,535 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Strawberry Fields REIT by 186.7% during the third quarter. JPMorgan Chase & Co. now owns 9,572 shares of the company’s stock worth $121,000 after purchasing an additional 6,233 shares in the last quarter. Finally, Duncan Williams Asset Management LLC purchased a new stake in shares of Strawberry Fields REIT during the 3rd quarter valued at $192,000.

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.