Strawberry Fields REIT (NYSEAMERICAN:STRW) Issues Earnings Results

Key Points

• Strawberry Fields REIT met earnings expectations, reporting quarterly EPS of $0.16, while revenue of $40.05 million fell slightly short of the $40.24 million analyst consensus.
• Shares rose to $14.44 during Thursday trading, near the company’s 52-week high of $14.75; the stock has a market capitalization of approximately $193.9 million.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $15.17. Several institutional investors also recently initiated or increased positions.

Strawberry Fields REIT (NYSEAMERICAN:STRW - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16, FiscalAI reports. Strawberry Fields REIT had a return on equity of 14.36% and a net margin of 5.25%.The business had revenue of $40.05 million for the quarter, compared to analysts' expectations of $40.24 million.

Strawberry Fields REIT Stock Performance

Shares of NYSEAMERICAN STRW traded up $0.19 during mid-day trading on Thursday, hitting $14.44. The stock had a trading volume of 34,479 shares, compared to its average volume of 47,368. The business has a 50 day moving average price of $13.64 and a two-hundred day moving average price of $13.10. Strawberry Fields REIT has a 1 year low of $10.00 and a 1 year high of $14.75. The firm has a market cap of $193.93 million, a P/E ratio of 22.22 and a beta of 0.41.

Hedge Funds Weigh In On Strawberry Fields REIT

A number of institutional investors have recently bought and sold shares of the stock. Gabelli Funds LLC bought a new position in Strawberry Fields REIT during the 2nd quarter valued at about $1,515,000. Jones Financial Companies Lllp purchased a new position in shares of Strawberry Fields REIT in the first quarter worth $984,000. Acadian Asset Management LLC acquired a new stake in Strawberry Fields REIT during the first quarter worth about $453,000. Gamco Investors INC. ET AL purchased a new stake in shares of Strawberry Fields REIT during the second quarter worth about $320,000. Finally, Lazard Asset Management LLC lifted its position in Strawberry Fields REIT by 288.7% during the second quarter. Lazard Asset Management LLC now owns 22,631 shares of the company's stock worth $238,000 after buying an additional 16,809 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $15.00 price objective on shares of Strawberry Fields REIT in a report on Monday, May 11th. Zacks Research upgraded shares of Strawberry Fields REIT to a "hold" rating in a report on Wednesday, April 22nd. B. Riley Financial reissued a "neutral" rating and issued a $14.50 price objective (up from $13.50) on shares of Strawberry Fields REIT in a research note on Wednesday, July 22nd. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Strawberry Fields REIT in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $15.17.

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. The 109 healthcare facilities comprise 99 skilled nursing facilities, eight assisted living facilities, and two long-term acute care hospitals.

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