Slate Grocery REIT (TSE:SGR.UN) Price Target Cut to C$9.00

Slate Grocery REIT (TSE:SGR.UN) had its price objective lowered by stock analysts at Royal Bank of Canada from C$9.50 to C$9.00 in a research report issued on Monday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential downside of 15.81% from the stock’s current price.

A number of other research firms have also recently weighed in on SGR.UN. Raymond James dropped their price target on Slate Grocery REIT from C$10.00 to C$9.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. CIBC decreased their price objective on shares of Slate Grocery REIT from C$9.75 to C$9.50 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, Scotiabank dropped their target price on shares of Slate Grocery REIT from C$9.50 to C$9.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd.

Slate Grocery REIT Price Performance

TSE:SGR.UN opened at C$10.69 on Monday. The firm has a market cap of C$632.10 million, a PE ratio of 31.44 and a beta of 1.64. The company’s 50-day moving average price is C$11.16 and its two-hundred day moving average price is C$11.35. The company has a quick ratio of 0.38, a current ratio of 0.17 and a debt-to-equity ratio of 134.91. Slate Grocery REIT has a 12 month low of C$9.56 and a 12 month high of C$13.75.

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 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.