Slate Grocery REIT (TSE:SGR.UN) Hits New 1-Year High – Here’s What Happened

Slate Grocery REIT (TSE:SGR.UN) hit a new 52-week high on Thursday. The stock traded as high as C$17.87 and last traded at C$17.87, with a volume of 969243 shares changing hands. The stock had previously closed at C$17.61.

Wall Street Analysts Forecast Growth

SGR.UN has been the topic of several research reports. ATB Cormark Capital Markets lowered Slate Grocery REIT from an “underperform” rating to a “tender” rating and boosted their target price for the company from C$8.00 to C$13.00 in a research note on Wednesday. TD downgraded Slate Grocery REIT from a “hold” rating to a “sell” rating and increased their price target for the stock from C$12.00 to C$13.00 in a research note on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell” and a consensus target price of C$13.00.

Slate Grocery REIT Trading Up 1.5%

The company has a market cap of C$1.06 billion, a P/E ratio of 25.18 and a beta of 1.22. The company has a quick ratio of 0.38, a current ratio of 0.09 and a debt-to-equity ratio of 133.42. The firm’s 50-day moving average price is C$16.00 and its 200-day moving average price is C$16.34.

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

Slate Grocery REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were paid a dividend of $0.0720 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, July 31st. Slate Grocery REIT’s payout ratio is presently 121.73%.

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.