Huntington Begins Coverage on Strawberry Fields REIT (NYSEAMERICAN:STRW)

Investment analysts at Huntington initiated coverage on shares of Strawberry Fields REIT (NYSEAMERICAN:STRW) in a report issued on Thursday, Zacks reports. The brokerage set a “hold” rating on the stock.

Several other equities research analysts also recently issued reports on the company. B. Riley Financial reaffirmed a “neutral” rating and issued a $14.50 price target (up from $13.50) on shares of Strawberry Fields REIT in a research report on Wednesday, July 22nd. Compass Point raised Strawberry Fields REIT from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 18th. Piper Sandler set a $16.00 target price on Strawberry Fields REIT in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald raised 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. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Strawberry Fields REIT Stock Performance

Shares of NYSEAMERICAN STRW traded down $0.31 during mid-day trading on Thursday, reaching $12.12. 13,659 shares of the company traded hands, compared to its average volume of 40,308. The stock has a market cap of $171.62 million, a PE ratio of 52.70 and a beta of 0.42. The company’s fifty day moving average is $13.16 and its two-hundred day moving average is $13.16. Strawberry Fields REIT has a fifty-two week low of $11.47 and a fifty-two week high of $14.75.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in STRW. Deutsche Bank AG acquired a new stake in Strawberry Fields REIT during the second quarter worth about $111,000. Russell Investments Group Ltd. lifted its position in shares of Strawberry Fields REIT by 30.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,197 shares of the company’s stock worth $106,000 after acquiring an additional 1,918 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Strawberry Fields REIT during the 1st quarter worth approximately $127,000. Man Group plc acquired a new stake in shares of Strawberry Fields REIT during the 2nd quarter worth approximately $158,000. Finally, Globeflex Capital L P bought a new stake in shares of Strawberry Fields REIT during the second quarter valued at approximately $161,000.

Strawberry Fields REIT News Roundup

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

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.