Slate Grocery REIT (TSE:SGR.UN) Price Target Cut to C$9.00 by Analysts at Raymond James

Slate Grocery REIT (TSE:SGR.UN) had its price objective lowered by Raymond James from C$10.00 to C$9.00 in a research report released on Wednesday, BayStreet.CA reports. The brokerage currently has a market perform rating on the stock.

Slate Grocery REIT Stock Performance

Shares of SGR.UN opened at C$11.04 on Wednesday. The stock’s 50-day simple moving average is C$11.26 and its 200 day simple moving average is C$11.34. The stock has a market capitalization of C$652.80 million, a price-to-earnings ratio of 32.47 and a beta of 1.64. The company has a debt-to-equity ratio of 134.91, a quick ratio of 0.38 and a current ratio of 0.17. Slate Grocery REIT has a 52-week low of C$9.56 and a 52-week high of C$13.75.

Slate Grocery REIT Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 15th were issued a $0.072 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $0.86 annualized dividend and a dividend yield of 7.83%. Slate Grocery REIT’s payout ratio is currently 344.12%.

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.