Strawberry Fields REIT (NYSEAMERICAN:STRW) Announces Quarterly Earnings Results

Strawberry Fields REIT (NYSEAMERICAN:STRW) released its quarterly earnings data on Thursday. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.14, reports. Strawberry Fields REIT had a net margin of 5.30% and a return on equity of 17.25%. The company had revenue of $40.00 million during the quarter, compared to the consensus estimate of $40.42 million.

Strawberry Fields REIT Stock Performance

Shares of STRW stock traded down $0.31 on Friday, hitting $12.12. The stock had a trading volume of 13,659 shares, compared to its average volume of 40,308. The firm has a market capitalization of $171.62 million, a price-to-earnings ratio of 9.40 and a beta of 0.42. The stock’s 50 day moving average is $13.16 and its 200-day moving average is $13.16. Strawberry Fields REIT has a 52-week low of $11.47 and a 52-week high of $14.75.

Strawberry Fields REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 16th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $0.68 annualized dividend and a dividend yield of 5.6%. Strawberry Fields REIT’s dividend payout ratio is 133.34%.

More Strawberry Fields REIT News

Here are the key news stories impacting Strawberry Fields REIT this week:

• Positive Sentiment: The company declared a quarterly cash dividend of $0.17 per share, or $0.68 annualized, equivalent to a yield of about 5.4%. The dividend is payable December 30 to shareholders of record December 16. Dividend announcement
• Positive Sentiment: STRW reported quarterly EPS of $0.34, above the cited analyst consensus of $0.20. Brokerages’ average price target is $15.50, above the share price cited in the provided market data, suggesting potential upside if achieved. Analyst price target report
• Negative Sentiment: Funds from operations (FFO), a key REIT performance measure, came in at $0.34 per share, below the $0.37 consensus estimate. Revenue of $40.0 million also missed expectations of $40.42 million. These misses could pressure investor sentiment despite the EPS beat. Q3 FFO and revenue report

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on STRW. Cantor Fitzgerald raised their target price on shares of Strawberry Fields REIT from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Huntington started coverage on shares of Strawberry Fields REIT in a research report on Thursday, September 10th. They set a “market perform” rating and a $15.00 price target for the company. Piper Sandler set a $16.00 price target on shares of Strawberry Fields REIT in a research report on Tuesday, August 11th. B. Riley Financial reiterated a “neutral” rating and issued a $14.50 price target (up from $13.50) on shares of Strawberry Fields REIT in a report on Wednesday, July 22nd. Finally, Compass Point raised Strawberry Fields REIT from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Strawberry Fields REIT currently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

About Strawberry Fields REIT

Strawberry Fields REIT, Inc is a healthcare real estate investment trust that owns and manages properties used primarily by skilled nursing and other long-term care operators. The company generates revenue mainly by leasing its healthcare facilities to tenants under long-term, generally triple-net lease agreements, under which tenants are typically responsible for property operating expenses, maintenance and taxes.

The company’s portfolio is focused on healthcare properties in the United States, with an emphasis on skilled nursing facilities and related senior-care real estate.