Slate Grocery REIT (OTCMKTS:SRRTF) Sees Large Drop in Short Interest

Slate Grocery REIT (OTCMKTS:SRRTF) saw a significant decline in short interest in the month of October. As of October 30th, there was short interest totaling 305,308 shares, a decline of 66.1% from the October 15th total of 900,462 shares. Based on an average daily volume of 47,780 shares, the days-to-cover ratio is presently 6.4 days.

Slate Grocery REIT Trading Down 0.0%

Shares of SRRTF opened at $12.42 on Friday. Slate Grocery REIT has a fifty-two week low of $6.60 and a fifty-two week high of $13.51. The firm has a 50-day simple moving average of $11.81 and a 200-day simple moving average of $11.82.

Institutional Inflows and Outflows

A hedge fund 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 second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,500 shares of the company’s stock, valued at approximately $80,000.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SRRTF shares. Canadian Imperial Bank of Commerce set a $8.25 price target on Slate Grocery REIT in a research report on Friday, September 25th. Scotiabank reiterated a “sector perform” rating and issued a $13.00 price target on shares of Slate Grocery REIT in a research note on Tuesday, September 29th. Finally, TD Securities downgraded Slate Grocery REIT to a “sell” rating and set a $13.00 price objective on the stock. in a report on Tuesday, September 29th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $11.42.

Slate Grocery REIT Company Profile

Slate Grocery REIT is a real estate investment trust focused on owning, operating and managing grocery-anchored retail properties in the United States. Its portfolio is designed to serve everyday consumer needs and is anchored by supermarket tenants, which are supported by complementary retailers such as pharmacies, restaurants, service providers and other convenience-oriented businesses. The trust’s properties are generally located in established communities and metropolitan areas across the United States.