Slate Grocery REIT (TSE:SGR.UN) Reaches New 52-Week High – Still a Buy?

Slate Grocery REIT (TSE:SGR.UN)’s share price hit a new 52-week high during trading on Thursday. The company 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.

Analyst Upgrades and Downgrades

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

Slate Grocery REIT Stock Down 0.1%

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 has a market capitalization of C$1.06 billion, a PE ratio of 25.16 and a beta of 1.22. The business has a 50-day moving average price of C$16.02 and a 200-day moving average price of C$16.36.

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

Slate Grocery REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were issued 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 dividend payout ratio is currently 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.