Slate Grocery REIT (TSE:SGR.UN) Rating Lowered to Tender at ATB Cormark Capital Markets

Slate Grocery REIT (TSE:SGR.UN) was downgraded by equities researchers at ATB Cormark Capital Markets from an “underperform” rating to a “tender” rating in a research note issued to investors on Wednesday, BayStreet reports. They presently have a C$13.00 price objective on the stock, up from their prior price objective of C$8.00. ATB Cormark Capital Markets’ target price indicates a potential downside of 25.93% from the company’s previous close.

Slate Grocery REIT Price Performance

Shares of TSE SGR.UN opened at C$17.55 on Wednesday. The stock has a market capitalization of C$1.04 billion, a price-to-earnings ratio of 24.73 and a beta of 1.22. Slate Grocery REIT has a 12 month low of C$9.36 and a 12 month high of C$17.87. The firm’s 50 day simple moving average is C$16.00 and its 200-day simple moving average is C$16.32. The company has a debt-to-equity ratio of 133.42, a current ratio of 0.09 and a quick ratio of 0.38.

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

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.