Slate Grocery REIT (OTCMKTS:SRRTF) Stock Jumps 0.5% – Here’s What Happened

Slate Grocery REIT (OTCMKTS:SRRTF)’s stock price shot up 0.5% during trading on Friday. The stock traded as high as $12.51 and last traded at $12.51. Approximately 22,645 shares were traded during trading, a decline of 43% from the average daily volume of 40,056 shares. The stock had previously closed at $12.45.

Analyst Upgrades and Downgrades

SRRTF has been the topic of a number of recent research reports. TD Securities lowered 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. Scotiabank reaffirmed 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, Canadian Imperial Bank of Commerce set a $8.25 price target on shares of Slate Grocery REIT in a research report on Friday, September 25th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $11.42.

Slate Grocery REIT Stock Up 0.5%

The company has a 50 day moving average of $11.61 and a 200 day moving average of $11.77.

Institutional Investors Weigh In On 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 shares of Slate Grocery REIT (OTCMKTS:SRRTF) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,500 shares of the company’s stock, valued at approximately $80,000.

Slate Grocery REIT Company Profile

Slate Grocery REIT (OTCMKTS:SRRTF) is a real estate investment trust focused on owning and managing grocery-anchored shopping centers in the United States. Its properties are typically anchored by supermarkets and supported by tenants such as pharmacies, restaurants, service providers and other retailers that meet consumers’ everyday needs.

The REIT generates rental income by leasing space to grocery operators and other commercial tenants. Its portfolio strategy emphasizes well-located properties in established communities, with a focus on essential retail, convenient access and markets supported by stable consumer demand.

The trust was established as Slate Retail REIT and later adopted the Slate Grocery REIT name to reflect its grocery-focused investment strategy.