Strawberry Fields REIT, Inc. (NASDAQ:STRW) Raises Dividend to $0.16 Per Share

Key Points

• Strawberry Fields REIT, Inc. (NASDAQ:STRW) has announced a quarterly dividend increase to $0.16 per share, which marks a 14.3% rise from the previous dividend of $0.14.
• The company currently has a dividend payout ratio of 107.7%, indicating they are financing dividends through their balance sheet rather than earnings at this time.
• Insider activity includes Director Jack Levine purchasing 10,000 shares at an average price of $9.92 each, bringing their total ownership to 130,000 shares.

Strawberry Fields REIT, Inc. (NASDAQ:STRW - Get Free Report) declared a quarterly dividend on Friday, August 8th, RTT News reports. Shareholders of record on Tuesday, September 16th will be paid a dividend of 0.16 per share on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Tuesday, September 16th. This is a 14.3% increase from Strawberry Fields REIT's previous quarterly dividend of $0.14.

Strawberry Fields REIT has a payout ratio of 107.7% 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 $1.26 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 44.4%.

Strawberry Fields REIT Trading Up 6.5%

NASDAQ STRW traded up $0.66 during trading hours on Tuesday, hitting $10.74. 14,549 shares of the company's stock traded hands, compared to its average volume of 64,745. The firm has a market capitalization of $133.66 million, a P/E ratio of 21.06, a P/E/G ratio of 1.16 and a beta of 0.39. Strawberry Fields REIT has a 52 week low of $8.70 and a 52 week high of $12.90. The business's fifty day moving average price is $10.43 and its two-hundred day moving average price is $10.92.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STRW. Compass Point lowered shares of Strawberry Fields REIT from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $12.20 to $10.65 in a research report on Wednesday, July 2nd. Wedbush upgraded shares of Strawberry Fields REIT to a "strong-buy" rating in a research report on Wednesday, July 2nd.

About Strawberry Fields REIT

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.