Strawberry Fields REIT (NYSEAMERICAN:STRW) Coverage Initiated by Analysts at Huntington

Huntington assumed coverage on shares of Strawberry Fields REIT (NYSEAMERICAN:STRW) in a report released on Thursday morning,Zacks reports. The brokerage issued a hold rating on the stock.

Several other brokerages also recently commented on STRW. Cantor Fitzgerald raised their price objective on shares of Strawberry Fields REIT from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Piper Sandler set a $16.00 price target on Strawberry Fields REIT in a research note on Tuesday, August 11th. Compass Point raised Strawberry Fields REIT from a “neutral” rating to a “buy” rating in a report on Tuesday, August 18th. Finally, B. Riley Financial restated a “neutral” rating and issued a $14.50 price objective (up from $13.50) on shares of Strawberry Fields REIT in a research report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.50.

Strawberry Fields REIT Price Performance

Shares of STRW stock traded down $0.31 during trading hours on Thursday, reaching $12.12. 13,659 shares of the company traded hands, compared to its average volume of 40,308. Strawberry Fields REIT has a 12-month low of $11.47 and a 12-month high of $14.75. The company has a market cap of $171.62 million, a P/E ratio of 52.70 and a beta of 0.42. The firm has a 50-day moving average price of $13.16 and a 200 day moving average price of $13.16.

Strawberry Fields REIT (NYSEAMERICAN:STRW) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Strawberry Fields REIT had a return on equity of 17.25% and a net margin of 5.30%. The company had revenue of $40.05 million during the quarter, compared to the consensus estimate of $40.24 million. Sell-side analysts predict that Strawberry Fields REIT will post 1.40 EPS for the current year.

Strawberry Fields REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, December 16th. Strawberry Fields REIT’s dividend payout ratio (DPR) is presently 133.34%.

Institutional Trading of Strawberry Fields REIT

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Strawberry Fields REIT during the second quarter valued at about $8,944,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Strawberry Fields REIT in the second quarter worth about $4,794,000. Lazard Asset Management LLC lifted its position in shares of Strawberry Fields REIT by 181.1% in the first quarter. Lazard Asset Management LLC now owns 55,418 shares of the company’s stock worth $659,000 after buying an additional 35,705 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Strawberry Fields REIT by 25.5% in the first quarter. Dimensional Fund Advisors LP now owns 38,139 shares of the company’s stock worth $454,000 after buying an additional 7,757 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new position in Strawberry Fields REIT during the third quarter valued at approximately $416,000.

Key Strawberry Fields REIT News

Here are the key news stories impacting Strawberry Fields REIT this week:

• Positive Sentiment: The company declared a quarterly cash dividend of $0.17 per share, or $0.68 annualized, equivalent to a yield of about 5.4%. The dividend is payable December 30 to shareholders of record December 16. Dividend announcement
• Positive Sentiment: STRW reported quarterly EPS of $0.34, above the cited analyst consensus of $0.20. Brokerages’ average price target is $15.50, above the share price cited in the provided market data, suggesting potential upside if achieved. Analyst price target report
• Negative Sentiment: Funds from operations (FFO), a key REIT performance measure, came in at $0.34 per share, below the $0.37 consensus estimate. Revenue of $40.0 million also missed expectations of $40.42 million. These misses could pressure investor sentiment despite the EPS beat. Q3 FFO and revenue report

Strawberry Fields REIT Company Profile

Strawberry Fields REIT, Inc is a healthcare real estate investment trust that owns and manages properties used primarily by skilled nursing and other long-term care operators. The company generates revenue mainly by leasing its healthcare facilities to tenants under long-term, generally triple-net lease agreements, under which tenants are typically responsible for property operating expenses, maintenance and taxes.

The company’s portfolio is focused on healthcare properties in the United States, with an emphasis on skilled nursing facilities and related senior-care real estate.