Strawberry Fields REIT

STRW

REIT - Healthcare Facilities · Real Estate

Price

$14.15

+0.38 (+2.76%)

Market Cap

$190.0M

Exchange

New York Stock Exchange Arca

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count rising — dilution

+115.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 5.9M (2021) → 12.7M (2025)

Strawberry Fields REIT is a real estate company that owns and leases healthcare buildings, mainly skilled nursing facilities (SNFs). These are places where elderly or recovering patients receive around-the-clock medical care. The company rents these buildings to healthcare operators who run the day-to-day medical services.

Strawberry Fields makes money by collecting rent from its tenants under long-term triple-net leases, meaning tenants pay most property expenses on top of rent. The company operates primarily in the Midwest and Southern United States and has a portfolio of roughly 100 facilities, making it a small but focused player in the SNF real estate space. Its long-term leases with a concentrated group of tenants provide steady, predictable income, but that concentration is also a key risk — if a major tenant runs into financial trouble or loses its Medicare and Medicaid reimbursements, Strawberry Fields could face significant revenue disruption.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+7.1% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+30.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

39.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$714M cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Strawberry Fields REIT is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

32.8%

Modest — 32.8% gross margin

Operating Margin

55.4%

Excellent — 55.4% operating margin

ROCE

2.8%

Weak — 2.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+24.6%

Fast-growing sales (24.6% YoY)

EPS YoY

+6.7%

Modest earnings growth (6.7% YoY)

Single-digit earnings growth — steady but not exciting.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

391%

Turns 391% of profit into real cash

FCF Margin

56.2%

Converts sales into free cash efficiently (56.2%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

64.45

Heavy debt load (64.45)

Interest Cover

1.67x

Dangerous — barely covers interest (1.7x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

22.1x

Growth-priced — P/E 22.1

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+6.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (22.1 → 16.0)

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Dividends

Dividend Yield

4.72%

Healthy income — 4.72% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

+18.2%

Dividend growing fast (18.2% YoY)

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