Strawberry Fields REIT, Inc. (NYSEAMERICAN:STRW) Raises Dividend to $0.17 Per Share

Strawberry Fields REIT, Inc. (NYSEAMERICAN:STRW) announced a quarterly dividend on Friday, May 8th. Stockholders of record on Tuesday, June 16th will be paid a dividend of 0.17 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, June 16th. This is a 6.3% increase from Strawberry Fields REIT’s previous quarterly dividend of $0.16.

Strawberry Fields REIT has a dividend payout ratio of 123.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Strawberry Fields REIT to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 40.3%.

Strawberry Fields REIT Price Performance

Shares of NYSEAMERICAN STRW opened at $12.82 on Friday. The stock has a market capitalization of $171.53 million, a price-to-earnings ratio of 21.02 and a beta of 0.43. Strawberry Fields REIT has a 12 month low of $9.46 and a 12 month high of $14.00. The firm’s 50 day simple moving average is $12.63 and its 200-day simple moving average is $12.64.

Strawberry Fields REIT (NYSEAMERICAN:STRW) last announced its earnings results on Friday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Strawberry Fields REIT had a return on equity of 11.35% and a net margin of 4.89%.The firm had revenue of $39.98 million for the quarter, compared to analyst estimates of $40.28 million. Analysts anticipate that Strawberry Fields REIT will post 1.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC lifted its holdings in Strawberry Fields REIT by 8.4% in the 4th quarter. First Eagle Investment Management LLC now owns 325,589 shares of the company’s stock valued at $4,265,000 after purchasing an additional 25,205 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Strawberry Fields REIT by 9.9% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 203,816 shares of the company’s stock valued at $2,670,000 after purchasing an additional 18,415 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Strawberry Fields REIT by 2.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 178,000 shares of the company’s stock valued at $2,189,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Strawberry Fields REIT by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 172,839 shares of the company’s stock valued at $2,265,000 after purchasing an additional 6,969 shares in the last quarter. Finally, State Street Corp lifted its holdings in Strawberry Fields REIT by 2.6% in the 4th quarter. State Street Corp now owns 169,865 shares of the company’s stock valued at $2,225,000 after purchasing an additional 4,380 shares in the last quarter.

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.