Strawberry Fields REIT (NYSEAMERICAN:STRW) Raised to Strong-Buy at Compass Point

Compass Point upgraded shares of Strawberry Fields REIT (NYSEAMERICAN:STRW) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

STRW has been the subject of a number of other reports. Lake Street Capital started coverage on shares of Strawberry Fields REIT in a report on Wednesday, January 8th. They issued a “buy” rating and a $13.50 price target for the company. Wedbush began coverage on shares of Strawberry Fields REIT in a research note on Monday, January 6th. They set an “outperform” rating and a $12.00 target price for the company. Finally, 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 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Strawberry Fields REIT presently has an average rating of “Buy” and a consensus price target of $12.40.

Strawberry Fields REIT Stock Performance

Shares of STRW stock opened at $11.23 on Wednesday. Strawberry Fields REIT has a 1 year low of $6.56 and a 1 year high of $12.90. The firm has a market cap of $84.01 million, a PE ratio of 22.02, a PEG ratio of 1.10 and a beta of 0.51.

Strawberry Fields REIT Increases Dividend

The company also recently declared 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. The ex-dividend date was Monday, December 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.99%. This is a positive change from Strawberry Fields REIT’s previous quarterly dividend of $0.13. Strawberry Fields REIT’s payout ratio is currently 109.81%.

Insider Activity at Strawberry Fields REIT

In related news, 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Moishe Gubin acquired 17,600 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average price of $11.99 per share, with a total value of $211,024.00. Following the completion of the transaction, the chief executive officer now directly owns 467,700 shares in the company, valued at approximately $5,607,723. This trade represents a 3.91 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 154,547 shares of company stock worth $1,586,276. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Strawberry Fields REIT by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 98,445 shares of the company’s stock worth $1,249,000 after purchasing an additional 12,129 shares during the last quarter. State Street Corp increased its holdings in Strawberry Fields REIT by 4.1% in the third quarter. State Street Corp now owns 45,998 shares of the company’s stock worth $584,000 after buying an additional 1,796 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $205,000 after acquiring an additional 2,774 shares in the last quarter. Duncan Williams Asset Management LLC acquired a new stake in Strawberry Fields REIT in the third quarter valued at approximately $192,000. Finally, JPMorgan Chase & Co. grew its position in Strawberry Fields REIT by 186.7% in the third quarter. JPMorgan Chase & Co. now owns 9,572 shares of the company’s stock worth $121,000 after acquiring an additional 6,233 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.