Strawberry Fields REIT Inc. Announces Board Of Directors Has Authorized The Repurchase Of Up To $5M Of The Company's Common Stock
Strawberry Fields REIT, Inc. (NYSE:STRW) ("Strawberry Fields" or the "Company") today announced that on November 9, 2023 its Board of Directors has authorized the repurchase of up to $5 million of the Company's common stock.
Moishe Gubin, the Company's Chairman & CEO, said: "We are pleased to announce the approval of a share repurchase program by our Board of Directors. We do not believe our current share price accurately reflects the true value of each share. We plan on executing the share repurchase program, taking into consideration market conditions, our business outlook, and liquidity, all while maintaining our strong balance sheet. Additionally, with our strong cash flow, we have the ability to invest in strategic acquisitions, continue increasing our dividend, and take this action to deliver strong shareholder returns and drive long-term growth."
Repurchases may be made at management's discretion from time to time on the open market or through privately negotiated transactions. The repurchase program has no time limit and may be suspended for periods or discontinued at any time.