Slate Grocery REIT (OTCMKTS:SRRTF) Stock Price Up 0.3% – Here’s Why

Slate Grocery REIT (OTCMKTS:SRRTF) rose 0.3% during trading on Friday. The company traded as high as $12.48 and last traded at $12.48. Approximately 12,000 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 40,468 shares. The stock had previously closed at $12.44.

Analyst Ratings Changes

Several research firms recently commented on SRRTF. Canadian Imperial Bank of Commerce set a $8.25 price target on shares of Slate Grocery REIT in a research note on Friday, September 25th. Scotiabank reissued a “sector perform” rating and issued a $13.00 price objective on shares of Slate Grocery REIT in a research report on Tuesday, September 29th. Finally, TD Securities downgraded shares of Slate Grocery REIT to a “sell” rating and set a $13.00 target price on the stock. in a research note on Tuesday, September 29th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Slate Grocery REIT currently has an average rating of “Reduce” and a consensus price target of $11.42.

Slate Grocery REIT Price Performance

The company has a fifty day simple moving average of $11.46 and a two-hundred day simple moving average of $11.79.

Institutional Trading of Slate Grocery REIT

An institutional investor recently bought a new position in Slate Grocery REIT stock. Compass Financial Management LLC acquired a new position in Slate Grocery REIT (OTCMKTS:SRRTF) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,500 shares of the company’s stock, valued at approximately $80,000.

Slate Grocery REIT Company Profile

Slate Grocery REIT is a Canadian real estate investment trust focused on owning and operating grocery-anchored and necessity-based retail properties in the United States. Its properties are designed to serve everyday consumer needs and are generally anchored by supermarket operators, which can help support regular customer traffic.

The REIT’s portfolio includes shopping centers and other retail properties leased to grocery stores, pharmacies, restaurants, service providers and other complementary tenants.