Strawberry Fields REIT, Inc. (NYSEAMERICAN:STRW) Declares Quarterly Dividend of $0.17

Strawberry Fields REIT, Inc. (NYSEAMERICAN:STRW) declared a quarterly dividend on Thursday, November 5th. Shareholders of record on Wednesday, December 16th will be given a dividend of $0.17 per share on Wednesday, December 30th. This represents a $0.68 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Wednesday, December 16th.

Strawberry Fields REIT has a dividend payout ratio of 123.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Strawberry Fields REIT to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 41.3%.

Strawberry Fields REIT Stock Performance

Shares of STRW opened at $12.65 on Friday. The company’s 50-day simple moving average is $13.19 and its 200-day simple moving average is $13.16. Strawberry Fields REIT has a 1 year low of $11.27 and a 1 year high of $14.75. The stock has a market capitalization of $179.12 million, a PE ratio of 19.12 and a beta of 0.42.

Strawberry Fields REIT (NYSEAMERICAN:STRW) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. Strawberry Fields REIT had a return on equity of 17.25% and a net margin of 5.30%. The company had revenue of $40.00 million for the quarter, compared to analyst estimates of $40.42 million. On average, sell-side analysts predict that Strawberry Fields REIT will post 1.40 earnings per share for the current year.

Analyst Upgrades and Downgrades

STRW has been the topic of several research reports. Piper Sandler set a $16.00 price objective on Strawberry Fields REIT in a report on Tuesday, August 11th. Cantor Fitzgerald boosted their target price on Strawberry Fields REIT from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, August 10th. B. Riley Financial reissued a “neutral” rating and issued a $14.50 target price (up from $13.50) on shares of Strawberry Fields REIT in a research report on Wednesday, July 22nd. Compass Point upgraded Strawberry Fields REIT from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 18th. Finally, Huntington began coverage on Strawberry Fields REIT in a research report on Thursday, September 10th. They set a “market perform” rating and a $15.00 price target on the stock. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.50.

About Strawberry Fields REIT

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.