Slate Grocery REIT (TSE:SGR.UN) Cut to “Sell” at TD

TD cut shares of Slate Grocery REIT (TSE:SGR.UN) from a hold rating to a sell rating in a research note published on Wednesday morning,BayStreet reports. They currently have C$13.00 target price on the stock, up from their previous target price of C$12.00.

Separately, ATB Cormark Capital Markets lowered shares of Slate Grocery REIT from an “underperform” rating to a “tender” rating and increased their target price for the stock from C$8.00 to C$13.00 in a report on Wednesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average target price of C$13.00.

Slate Grocery REIT Stock Performance

TSE SGR.UN opened at C$17.86 on Wednesday. The company has a debt-to-equity ratio of 133.42, a current ratio of 0.09 and a quick ratio of 0.38. The company has a market cap of C$1.06 billion, a P/E ratio of 25.16 and a beta of 1.22. The stock has a 50-day moving average of C$16.02 and a two-hundred day moving average of C$16.36. Slate Grocery REIT has a 1-year low of C$9.36 and a 1-year high of C$17.88.

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

Slate Grocery REIT Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were paid a $0.0720 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.86 dividend on an annualized basis and a yield of 4.8%. Slate Grocery REIT’s payout ratio 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.