Strawberry Fields REIT (NASDAQ:STRW) Upgraded by Wedbush to "Strong-Buy" Rating

Wedbush upgraded shares of Strawberry Fields REIT (NASDAQ:STRW - Free Report) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Separately, Compass Point downgraded Strawberry Fields REIT from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $12.20 to $10.65 in a research note on Wednesday, July 2nd.

Strawberry Fields REIT Price Performance

Shares of NASDAQ STRW traded down $0.21 during midday trading on Wednesday, hitting $9.96. 87,928 shares of the company's stock traded hands, compared to its average volume of 72,675. The stock has a market capitalization of $123.95 million, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.16 and a beta of 0.39. The company has a fifty day moving average price of $10.47. Strawberry Fields REIT has a 1 year low of $8.70 and a 1 year high of $12.90.

Strawberry Fields REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.56 dividend on an annualized basis and a yield of 5.62%. Strawberry Fields REIT's dividend payout ratio is presently 96.55%.

Insider Activity at Strawberry Fields REIT

In related news, Director Michael Blisko bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was bought at an average cost of $9.25 per share, with a total value of $92,500.00. Following the completion of the purchase, the director owned 314,582 shares of the company's stock, valued at approximately $2,909,883.50. The trade was a 3.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have acquired a total of 11,904 shares of company stock valued at $112,381 over the last quarter. 10.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in STRW. Worth Venture Partners LLC lifted its position in shares of Strawberry Fields REIT by 5.6% in the first quarter. Worth Venture Partners LLC now owns 19,000 shares of the company's stock worth $226,000 after buying an additional 1,000 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Strawberry Fields REIT by 39.6% during the 4th quarter. Wells Fargo & Company MN now owns 3,902 shares of the company's stock worth $41,000 after acquiring an additional 1,107 shares in the last quarter. Corebridge Financial Inc. boosted its position in shares of Strawberry Fields REIT by 48.0% during the 1st quarter. Corebridge Financial Inc. now owns 4,570 shares of the company's stock valued at $54,000 after acquiring an additional 1,482 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Strawberry Fields REIT by 52.9% in the fourth quarter. Bank of America Corp DE now owns 4,725 shares of the company's stock valued at $50,000 after purchasing an additional 1,634 shares in the last quarter. Finally, Northern Trust Corp increased its position in Strawberry Fields REIT by 4.8% in the fourth quarter. Northern Trust Corp now owns 40,003 shares of the company's stock worth $422,000 after purchasing an additional 1,844 shares during the last quarter.

Strawberry Fields REIT Company Profile

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.