Slate Retail REIT (TSE:SRT.UN) Senior Officer Gregory Stevenson sold 2,520 shares of Slate Retail REIT stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of C$13.00, for a total value of C$32,760.00. Following the completion of the sale, the insider now owns 35,558 shares of the company’s stock, valued at C$462,254.
Shares of TSE:SRT.UN opened at C$12.84 on Thursday. The stock has a market capitalization of $543.88 million and a price-to-earnings ratio of 166.75. The company has a debt-to-equity ratio of 201.81, a quick ratio of 0.13 and a current ratio of 0.17. The stock’s 50-day simple moving average is C$12.93 and its two-hundred day simple moving average is C$12.75. Slate Retail REIT has a 52-week low of C$11.20 and a 52-week high of C$13.30.
The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be given a $0.0712 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $0.85 annualized dividend and a yield of 6.65%. Slate Retail REIT’s payout ratio is 1,467.53%.
SRT.UN has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Slate Retail REIT from C$9.75 to C$10.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. BMO Capital Markets raised their target price on Slate Retail REIT from C$9.75 to C$10.00 in a research report on Thursday, August 1st. Finally, CIBC dropped their target price on Slate Retail REIT from C$10.25 to C$10.00 in a research report on Thursday, October 31st.
Slate Retail REIT Company Profile
Slate Retail REIT is a real estate investment trust focused on U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $1.4 billion of assets located across the top 50 U.S. metro markets that are visited regularly by consumers for their everyday needs. The REIT's conservative payout ratio, together with its diversified portfolio and quality tenant covenants, provides a strong basis to continue to grow unitholder distributions and the flexibility to capitalize on opportunities that drive value appreciation.
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