Lake Street Capital Initiates Coverage on Strawberry Fields REIT (NYSEAMERICAN:STRW)

Investment analysts at Lake Street Capital initiated coverage on shares of Strawberry Fields REIT (NYSEAMERICAN:STRW) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $13.50 price target on the stock. Lake Street Capital’s price objective would suggest a potential upside of 24.08% from the company’s previous close.

Several other research firms have also recently weighed in on STRW. Wedbush assumed coverage on Strawberry Fields REIT in a report on Monday. They set an “outperform” rating and a $12.00 price target on the stock. Janney Montgomery Scott began coverage on Strawberry Fields REIT in a research report on Wednesday, December 18th. They issued a “buy” rating and a $12.50 target price on the stock.

Strawberry Fields REIT Trading Up 5.8 %

Shares of STRW opened at $10.88 on Wednesday. Strawberry Fields REIT has a 12 month low of $6.56 and a 12 month high of $12.90. The firm has a market cap of $81.38 million, a price-to-earnings ratio of 21.33 and a beta of 0.22.

Insider Activity

In other Strawberry Fields REIT news, Director Jack Levine bought 5,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $50,000.00. Following the acquisition, the director now directly owns 108,927 shares in the company, valued at approximately $1,089,270. The trade was a 4.81 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alyeska Investment Group, L.P. sold 200,000 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $10.25, for a total value of $2,050,000.00. Following the sale, the insider now directly owns 1,050,000 shares in the company, valued at $10,762,500. This trade represents a 16.00 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 154,547 shares of company stock valued at $1,586,276 in the last ninety days. Insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Duncan Williams Asset Management LLC purchased a new stake in shares of Strawberry Fields REIT during the third quarter worth about $192,000. Geode Capital Management LLC raised its stake in shares of Strawberry Fields REIT by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 98,445 shares of the company’s stock valued at $1,249,000 after acquiring an additional 12,129 shares during the period. Barclays PLC lifted its stake in Strawberry Fields REIT by 302.3% during the 3rd quarter. Barclays PLC now owns 8,697 shares of the company’s stock worth $110,000 after acquiring an additional 6,535 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Strawberry Fields REIT by 186.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,572 shares of the company’s stock valued at $121,000 after buying an additional 6,233 shares during the period. Finally, Rhumbline Advisers acquired a new position in Strawberry Fields REIT during the 2nd quarter worth approximately $57,000.

Strawberry Fields REIT Company Profile

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.