Wedbush Upgrades Strawberry Fields REIT (NASDAQ:STRW) to Strong-Buy

Wedbush upgraded shares of Strawberry Fields REIT (NASDAQ:STRW) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Separately, Compass Point lowered shares of Strawberry Fields REIT from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $12.20 to $10.65 in a research report on Wednesday.

Strawberry Fields REIT Stock Performance

Shares of NASDAQ:STRW opened at $10.17 on Wednesday. The stock’s 50 day simple moving average is $10.47. Strawberry Fields REIT has a 12-month low of $8.70 and a 12-month high of $12.90. The firm has a market cap of $126.57 million, a price-to-earnings ratio of 19.94, a PEG ratio of 1.16 and a beta of 0.39.

Strawberry Fields REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.56 annualized dividend and a dividend yield of 5.51%. Strawberry Fields REIT’s dividend payout ratio is 96.55%.

Insider Transactions at Strawberry Fields REIT

In other news, Director Michael Blisko acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The shares were acquired at an average cost of $9.25 per share, with a total value of $92,500.00. Following the completion of the purchase, the director directly owned 314,582 shares of the company’s stock, valued at $2,909,883.50. The trade was a 3.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 11,904 shares of company stock valued at $112,381 over the last quarter. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in Strawberry Fields REIT by 97.1% in the fourth quarter. Ameriprise Financial Inc. now owns 53,640 shares of the company’s stock valued at $565,000 after acquiring an additional 26,421 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in Strawberry Fields REIT in the fourth quarter valued at approximately $136,000. Millennium Management LLC acquired a new stake in Strawberry Fields REIT in the fourth quarter valued at approximately $442,000. Ritholtz Wealth Management boosted its position in Strawberry Fields REIT by 55.7% in the first quarter. Ritholtz Wealth Management now owns 21,609 shares of the company’s stock valued at $257,000 after buying an additional 7,727 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Strawberry Fields REIT by 2,191.7% in the first quarter. GAMMA Investing LLC now owns 3,025 shares of the company’s stock valued at $36,000 after buying an additional 2,893 shares in the last quarter.

Strawberry Fields REIT Company Profile

Strawberry Fields REIT, Inc engages in the ownership, acquisition, development, and leasing of skilled nursing and certain other healthcare-related properties. The company was founded by Moishe Gubin in 2014 and is headquartered in South Bend, IN.