Strawberry Fields REIT (NYSEAMERICAN:STRW) Coverage Initiated by Analysts at Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Strawberry Fields REIT (NYSEAMERICAN:STRW - Free Report) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $12.50 target price on the stock.

Strawberry Fields REIT Trading Up 1.5 %

Shares of NYSEAMERICAN:STRW traded up $0.16 during trading on Wednesday, reaching $10.51. The company had a trading volume of 26,872 shares, compared to its average volume of 32,468. The firm has a market cap of $78.61 million, a P/E ratio of 20.29 and a beta of 0.22. Strawberry Fields REIT has a twelve month low of $6.56 and a twelve month high of $12.90.

Strawberry Fields REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.14 per share. This is a boost from Strawberry Fields REIT's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Monday, December 16th. Strawberry Fields REIT's payout ratio is currently 101.96%.

Insider Activity at Strawberry Fields REIT

In related news, CEO Moishe Gubin purchased 17,600 shares of the firm's stock in a transaction that occurred 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 purchase, the chief executive officer now directly owns 467,700 shares in the company, valued at $5,607,723. This represents a 3.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jack Levine purchased 5,000 shares of Strawberry Fields REIT stock in a transaction that occurred on Thursday, December 5th. The shares were bought at an average price of $10.00 per share, for a total transaction of $50,000.00. Following the transaction, the director now owns 108,927 shares in the company, valued at $1,089,270. This represents a 4.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 144,547 shares of company stock valued at $1,483,854. 10.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Strawberry Fields REIT

Several institutional investors and hedge funds have recently modified their holdings of STRW. Rhumbline Advisers bought a new position in shares of Strawberry Fields REIT during the second quarter worth approximately $57,000. Duncan Williams Asset Management LLC acquired a new position in Strawberry Fields REIT in the 3rd quarter valued at $192,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Strawberry Fields REIT during the 3rd quarter valued at $45,000. Charles Schwab Investment Management Inc. increased its position in shares of Strawberry Fields REIT by 20.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,174 shares of the company's stock worth $205,000 after purchasing an additional 2,774 shares during the period. Finally, State Street Corp lifted its position in Strawberry Fields REIT by 4.1% during the third quarter. State Street Corp now owns 45,998 shares of the company's stock worth $584,000 after purchasing an additional 1,796 shares during the period.

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.