Slate Grocery REIT (TSE:SGR.UN) Stock Rating Cut to Sell at TD

Slate Grocery REIT (TSE:SGR.UN) was downgraded by analysts at TD from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, BayStreet reports. They currently have a C$13.00 price objective on the stock, up from their previous price objective of C$12.00. TD’s price objective indicates a potential downside of 25.93% from the company’s previous close.

Separately, ATB Cormark Capital Markets downgraded shares of Slate Grocery REIT from an “underperform” rating to a “tender” rating and increased their target price for the company from C$8.00 to C$13.00 in a research note on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus target price of C$13.00.

Slate Grocery REIT Stock Performance

TSE SGR.UN opened at C$17.55 on Wednesday. The business’s 50 day moving average price is C$16.00 and its 200-day moving average price is C$16.32. Slate Grocery REIT has a fifty-two week low of C$9.36 and a fifty-two week high of C$17.87. The company has a market cap of C$1.04 billion, a P/E ratio of 24.73 and a beta of 1.22. 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 results on Thursday, August 6th. The company reported C$0.23 earnings per share (EPS) for the quarter. The company had revenue of C$82.31 million during the quarter. Slate Grocery REIT had a return on equity of 5.14% and a net margin of 16.33%. Sell-side analysts predict that Slate Grocery REIT will post 1.8853755 earnings per share for the current year.

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.