Strawberry Fields REIT, Inc. (NASDAQ:STRW) to Issue Dividend Increase - $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) announced 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 dividend yield of 6.3%. This is a 14.3% increase from Strawberry Fields REIT's previous quarterly dividend of $0.14.

Strawberry Fields REIT has a dividend 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 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 Stock Up 2.1%

NASDAQ:STRW traded up $0.21 during mid-day trading on Friday, reaching $10.24. The company's stock had a trading volume of 3,971 shares, compared to its average volume of 64,938. The stock has a fifty day moving average of $10.42 and a 200-day moving average of $10.93. The firm has a market capitalization of $127.44 million, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.16 and a beta of 0.39. Strawberry Fields REIT has a 1 year low of $8.70 and a 1 year high of $12.90.

Insider Buying and Selling

In related news, Director Jack Levine acquired 10,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were acquired at an average cost of $9.92 per share, with a total value of $99,200.00. Following the completion of the acquisition, the director directly owned 130,000 shares in the company, valued at approximately $1,289,600. This trade represents a 8.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have acquired 12,904 shares of company stock valued at $129,561. 10.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. purchased a new stake in Strawberry Fields REIT during the 1st quarter worth approximately $237,000. Ameriprise Financial Inc. increased its position in shares of Strawberry Fields REIT by 97.1% during the fourth quarter. Ameriprise Financial Inc. now owns 53,640 shares of the company's stock worth $565,000 after purchasing an additional 26,421 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in Strawberry Fields REIT in the 4th quarter valued at $136,000. Millennium Management LLC purchased a new position in Strawberry Fields REIT in the 4th quarter valued at $442,000. Finally, Ritholtz Wealth Management boosted its stake in Strawberry Fields REIT by 55.7% during the 1st quarter. Ritholtz Wealth Management now owns 21,609 shares of the company's stock worth $257,000 after purchasing an additional 7,727 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.