Slate Grocery REIT (TSE:SGR.UN) Receives Neutral Rating from CIBC

CIBC reiterated their neutral rating on shares of Slate Grocery REIT (TSE:SGR.UN) in a report published on Thursday, Stock Target Advisor reports. They currently have a C$13.50 price target on the stock.

Separately, Royal Bank of Canada lifted their price objective on Slate Grocery REIT from C$10.25 to C$13.50 and gave the company a sector perform rating in a research note on Thursday, July 29th.

TSE SGR.UN opened at C$13.48 on Thursday. The company’s 50 day moving average price is C$13.42. The company has a market capitalization of C$638.53 million and a price-to-earnings ratio of 7.14. Slate Grocery REIT has a twelve month low of C$10.26 and a twelve month high of C$13.75. The company has a quick ratio of 0.11, a current ratio of 0.77 and a debt-to-equity ratio of 163.24.

The business also recently disclosed a monthly dividend, which was paid on Monday, August 16th. Shareholders of record on Monday, August 16th were paid a dividend of $0.072 per share. This represents a $0.86 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date was Thursday, July 29th. Slate Grocery REIT’s payout ratio is 45.74%.

About Slate Grocery REIT

Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $1.3 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their everyday needs. The REIT's resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term.

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