Slate Grocery REIT (TSE:SGR.UN) Cut to “Tender” at ATB Cormark Capital Markets

Slate Grocery REIT (TSE:SGR.UN) was downgraded by equities researchers at ATB Cormark Capital Markets from an “underperform” rating to a “tender” rating in a research note issued to investors on Wednesday, BayStreet reports. They currently have a C$13.00 target price on the stock, up from their previous target price of C$8.00. ATB Cormark Capital Markets’ price target indicates a potential downside of 25.93% from the stock’s current price.

Slate Grocery REIT Stock Performance

Shares of TSE SGR.UN opened at C$17.55 on Wednesday. The company has a 50 day simple moving average of C$16.00 and a two-hundred day simple moving average of C$16.32. The stock has a market cap of C$1.04 billion, a price-to-earnings ratio of 24.73 and a beta of 1.22. The company has a current ratio of 0.09, a quick ratio of 0.38 and a debt-to-equity ratio of 133.42. Slate Grocery REIT has a 12 month low of C$9.36 and a 12 month high of C$17.87.

Slate Grocery REIT (TSE:SGR.UN) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.23 earnings per share for the quarter. Slate Grocery REIT had a net margin of 16.33% and a return on equity of 5.14%. The firm had revenue of C$82.31 million for the quarter. As a group, analysts predict that Slate Grocery REIT will post 1.8853755 earnings per share for the current year.

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 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.