Strawberry Fields REIT (NYSEAMERICAN:STRW) Coverage Initiated at Lake Street Capital

Lake Street Capital initiated coverage on shares of Strawberry Fields REIT (NYSEAMERICAN:STRW) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $13.50 price target on the stock.

Several other equities analysts have also issued reports on the stock. Janney Montgomery Scott began coverage on shares of Strawberry Fields REIT in a report on Wednesday, December 18th. They issued a “buy” rating and a $12.50 price target for the company. Wedbush began coverage on shares of Strawberry Fields REIT in a report on Monday. They issued an “outperform” rating and a $12.00 price target for the company.

Strawberry Fields REIT Price Performance

Shares of Strawberry Fields REIT stock opened at $11.06 on Wednesday. The firm has a market cap of $82.73 million, a price-to-earnings ratio of 21.69 and a beta of 0.22. Strawberry Fields REIT has a 52 week low of $6.56 and a 52 week high of $12.90.

Strawberry Fields REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a $0.14 dividend. The ex-dividend date of this dividend 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 yield of 5.06%. Strawberry Fields REIT’s dividend payout ratio is presently 101.96%.

Insider Buying and Selling

In related news, CEO Moishe Gubin bought 112,347 shares of Strawberry Fields REIT stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average cost 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 in the company, valued at approximately $7,006,670. This trade represents a 19.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Alyeska Investment Group, L.P. sold 200,000 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $10.25, for a total transaction of $2,050,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 154,547 shares of company stock valued at $1,586,276. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On Strawberry Fields REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in STRW. Charles Schwab Investment Management Inc. raised its holdings in shares of Strawberry Fields REIT by 20.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,174 shares of the company’s stock valued at $205,000 after purchasing an additional 2,774 shares during the period. State Street Corp raised its holdings in shares of Strawberry Fields REIT by 4.1% in the 3rd quarter. State Street Corp now owns 45,998 shares of the company’s stock valued at $584,000 after purchasing an additional 1,796 shares during the period. Rhumbline Advisers bought a new stake in shares of Strawberry Fields REIT in the 2nd quarter valued at about $57,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Strawberry Fields REIT in the 3rd quarter valued at about $45,000. Finally, Duncan Williams Asset Management LLC bought a new stake in shares of Strawberry Fields REIT in the 3rd quarter valued at about $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.