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

Slate Grocery REIT (TSE:SGR.UN) was downgraded by research analysts at TD from a “hold” rating to a “sell” rating in a report released on Wednesday, BayStreet reports. They currently have a C$13.00 target price on the stock, up from their prior target price of C$12.00. TD’s price target points to a potential downside of 25.93% from the stock’s current price.

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

Slate Grocery REIT Price Performance

Shares of SGR.UN stock opened at C$17.55 on Wednesday. The company has a debt-to-equity ratio of 133.42, a current ratio of 0.09 and a quick ratio of 0.38. The company has a market capitalization of C$1.04 billion, a P/E ratio of 24.73 and a beta of 1.22. The company’s 50-day simple moving average is C$16.00 and its two-hundred day simple moving average is C$16.32. Slate Grocery REIT has a one year low of C$9.36 and a one year high of C$17.87.

Slate Grocery REIT (TSE:SGR.UN) last issued its earnings results 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 business had revenue of C$82.31 million for the quarter. As a group, equities analysts anticipate that Slate Grocery REIT will post 1.8853755 EPS 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.