Slate Grocery REIT (TSE:SGR.UN) Price Target Lowered to C$9.00 at Royal Bank of Canada

Slate Grocery REIT (TSE:SGR.UN) had its price target dropped by stock analysts at Royal Bank of Canada from C$9.50 to C$9.00 in a report released on Monday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential downside of 17.96% from the stock’s current price.

Several other research analysts also recently issued reports on SGR.UN. Scotiabank lowered their price objective on shares of Slate Grocery REIT from C$9.50 to C$9.00 and set a “sector perform” rating on the stock in a research report on Thursday. CIBC lowered their price objective on shares of Slate Grocery REIT from C$9.75 to C$9.50 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Raymond James lowered their price objective on shares of Slate Grocery REIT from C$10.00 to C$9.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th.

Slate Grocery REIT Stock Down 0.4 %

TSE:SGR.UN traded down C$0.04 during midday trading on Monday, hitting C$10.97. 51,640 shares of the company were exchanged, compared to its average volume of 97,381. The company has a fifty day simple moving average of C$11.17 and a 200 day simple moving average of C$11.35. Slate Grocery REIT has a fifty-two week low of C$9.56 and a fifty-two week high of C$13.75. The company has a current ratio of 0.17, a quick ratio of 0.38 and a debt-to-equity ratio of 134.91. The company has a market capitalization of C$648.66 million, a PE ratio of 32.29 and a beta of 1.64.

Slate Grocery REIT Company Profile

Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $1.3 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their everyday needs. The REIT's resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term.