Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Strawberry Fields REIT LLC (STRW)

Company Dividend Discount ModelIndustry: REIT - Healthcare FacilitiesSector: Real Estate

Valuation Snapshot

Stable Growth$7.86 - $13.77$10.38
Multi-Stage$40.76 - $45.00$42.84
Blended Fair Value$26.61
Current Price$12.30
Upside116.33%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS0.00%0.00%0.350.250.060.000.000.000.000.000.000.00
YoY Growth--40.49%350.86%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.96%3.15%0.82%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)7.02
(-) Cash Dividends Paid (M)4.97
(=) Cash Retained (M)2.05
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.400.880.53
Cash Retained (M)2.052.052.05
(-) Cash Required (M)-1.40-0.88-0.53
(=) Excess Retained (M)0.651.181.53
(/) Shares Outstanding (M)11.4611.4611.46
(=) Excess Retained per Share0.060.100.13
LTM Dividend per Share0.430.430.43
(+) Excess Retained per Share0.060.100.13
(=) Adjusted Dividend0.490.540.57
WACC / Discount Rate4.12%4.12%4.12%
Growth Rate-2.00%-1.00%0.00%
Fair Value$7.86$10.38$13.77
Upside / Downside-36.13%-15.64%11.97%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)7.026.956.886.826.756.686.88
Payout Ratio70.76%74.61%78.45%82.30%86.15%90.00%92.50%
Projected Dividends (M)4.975.195.405.615.816.016.36

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.12%4.12%4.12%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)4.934.985.03
Year 2 PV (M)4.884.985.08
Year 3 PV (M)4.824.975.12
Year 4 PV (M)4.754.955.15
Year 5 PV (M)4.674.915.17
PV of Terminal Value (M)443.20466.27490.30
Equity Value (M)467.25491.07515.86
Shares Outstanding (M)11.4611.4611.46
Fair Value$40.76$42.84$45.00
Upside / Downside231.40%248.30%265.88%

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