Slate Grocery REIT (TSE:SGR.UN) PT Lowered to C$9.00 at Royal Bank of Canada

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

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

Slate Grocery REIT Price Performance

Shares of TSE:SGR.UN opened at C$10.69 on Monday. Slate Grocery REIT has a 1-year low of C$9.56 and a 1-year high of C$13.75. The company has a current ratio of 0.17, a quick ratio of 0.38 and a debt-to-equity ratio of 134.91. The stock has a market cap of C$632.10 million, a PE ratio of 31.44 and a beta of 1.64. The stock’s fifty day simple moving average is C$11.16 and its two-hundred day simple moving average is C$11.35.

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.