Slate Grocery REIT (OTCMKTS:SRRTF) Shares Climb 0.5% – Still a Buy?

Slate Grocery REIT (OTCMKTS:SRRTF) shot up 0.5% during mid-day trading on Friday. The company traded as high as $12.51 and last traded at $12.51. Approximately 22,645 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 40,056 shares. The stock had previously closed at $12.45.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Canadian Imperial Bank of Commerce set a $8.25 price target on Slate Grocery REIT in a research note on Friday, September 25th. Scotiabank reaffirmed a “sector perform” rating and issued a $13.00 price objective on shares of Slate Grocery REIT in a research note on Tuesday, September 29th. Finally, TD Securities downgraded Slate Grocery REIT to a “sell” rating and set a $13.00 price objective on the stock. in a report on Tuesday, September 29th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $11.42.

Slate Grocery REIT Stock Up 0.5%

The company’s 50 day moving average price is $11.61 and its 200 day moving average price is $11.77.

Hedge Funds Weigh In On Slate Grocery REIT

An institutional investor recently bought a new position in Slate Grocery REIT stock. Compass Financial Management LLC purchased a new position in Slate Grocery REIT (OTCMKTS:SRRTF) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,500 shares of the company’s stock, valued at approximately $80,000.

About Slate Grocery REIT

Slate Grocery REIT (OTCMKTS:SRRTF) is a real estate investment trust focused on owning and managing grocery-anchored shopping centers in the United States. Its properties are typically anchored by supermarkets and supported by tenants such as pharmacies, restaurants, service providers and other retailers that meet consumers’ everyday needs.

The REIT generates rental income by leasing space to grocery operators and other commercial tenants. Its portfolio strategy emphasizes well-located properties in established communities, with a focus on essential retail, convenient access and markets supported by stable consumer demand.

The trust was established as Slate Retail REIT and later adopted the Slate Grocery REIT name to reflect its grocery-focused investment strategy.