Strawberry Fields REIT price target raised to $14 at Alliance Global Partners
The Fly

Strawberry Fields REIT price target raised to $14 at Alliance Global Partners

Alliance Global Partners raised the firm’s price target on Strawberry Fields REIT (STRW) to $14 from $13 and keeps a Buy rating on the shares after the company reported Q3 AFFO per share that was in line with the firm’s estimates and showed an improvement in operating metrics, as reflected by facility occupancy and rent coverage, and rent collections were steady. The firm’s Buy rating is driven by favorable long-term industry dynamics, an opportunity to grow through acquisitions, and steady rent collections at 100% in Q3 and it notes that there was a common dividend increase of 7.7% and that the dividend was well covered by AFFO.

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