Slate Grocery REIT (TSE:SGR.UN) Stock Price Up 63% – Should You Buy?

Slate Grocery REIT (TSE:SGR.UN)’s stock price traded up 63% during mid-day trading on Monday. The stock traded as high as C$17.75 and last traded at C$17.52. Approximately 5,145,345 shares changed hands during trading, an increase of 2,717% from the average daily volume of 182,670 shares. The stock had previously closed at C$10.75.

Slate Grocery REIT Price Performance

The company has a market cap of C$1.04 billion, a PE ratio of 24.68 and a beta of 1.22. The stock has a fifty day moving average price of C$16.00 and a 200-day moving average price of C$16.29. 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 issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.23 earnings per share for the quarter. The business had revenue of C$82.31 million for the quarter. Slate Grocery REIT had a return on equity of 5.14% and a net margin of 16.33%. On average, equities analysts expect that Slate Grocery REIT will post 1.8853755 earnings per share for the current year.

Slate Grocery REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were given a dividend of $0.0720 per share. The ex-dividend date was Friday, July 31st. This represents a $0.86 dividend on an annualized basis and a yield of 4.9%. Slate Grocery REIT’s dividend payout ratio (DPR) is presently 121.73%.

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.