Slate Grocery REIT (TSE:SGR.UN) Stock Price Up 0.3% – Here’s Why

Slate Grocery REIT (TSE:SGR.UN) shot up 0.3% on Thursday. The stock traded as high as C$17.57 and last traded at C$17.50. Approximately 139,194 shares changed hands during trading, a decline of 39% from the average daily volume of 228,008 shares. The stock had previously closed at C$17.45.

Wall Street Analyst Weigh In

Several analysts have issued reports on SGR.UN shares. ATB Cormark Capital Markets lowered Slate Grocery REIT from an “underperform” rating to a “tender” rating and boosted their target price for the company from C$8.00 to C$13.00 in a research note on Wednesday, September 30th. TD lowered Slate Grocery REIT from a “hold” rating to a “sell” rating and lifted their price objective for the stock from C$12.00 to C$13.00 in a report on Wednesday, September 30th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, Slate Grocery REIT has a consensus rating of “Sell” and a consensus price target of C$13.00.

Slate Grocery REIT Stock Down 0.1%

The stock’s 50 day moving average is C$16.18 and its 200 day moving average is C$16.62. The company has a market capitalization of C$1.04 billion, a PE ratio of 24.63 and a beta of 0.94. The company has a debt-to-equity ratio of 133.42, a quick ratio of 0.38 and a current ratio of 0.09.

Slate Grocery REIT (TSE:SGR.UN) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.23 earnings per share (EPS) for the quarter. The business had revenue of C$82.31 million for the quarter. Slate Grocery REIT had a return on equity of 5.14% and a net margin of 16.33%. On average, sell-side analysts anticipate that Slate Grocery REIT will post 1.89 EPS for the current fiscal year.

Slate Grocery REIT Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were issued a dividend of $0.0720 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, July 31st. Slate Grocery REIT’s dividend payout ratio (DPR) is currently 121.73%.

About Slate Grocery REIT

Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs. The REIT’s resilient grocery-anchored portfolio and strong credit tenants are expected to provide unitholders with durable cash flows and the potential for capital appreciation over the longer term.