Slate Grocery REIT (TSE:SGR.UN) PT Lowered to C$9.50 at CIBC

Slate Grocery REIT (TSE:SGR.UN) had its price target cut by investment analysts at CIBC from C$9.75 to C$9.50 in a report released on Thursday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s price target would indicate a potential downside of 14.41% from the stock’s previous close.

SGR.UN has been the topic of several other research reports. Scotiabank cut their target price on Slate Grocery REIT from C$9.50 to C$9.00 and set a “sector perform” rating on the stock in a research note on Thursday. Raymond James dropped their price objective on Slate Grocery REIT from C$10.00 to C$9.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th.

Slate Grocery REIT Stock Up 0.5 %

Shares of SGR.UN traded up C$0.05 on Thursday, hitting C$11.10. The company’s stock had a trading volume of 41,400 shares, compared to its average volume of 96,462. The company has a quick ratio of 0.38, a current ratio of 0.17 and a debt-to-equity ratio of 134.91. The firm’s fifty day moving average price is C$11.20 and its 200-day moving average price is C$11.34. Slate Grocery REIT has a fifty-two week low of C$9.56 and a fifty-two week high of C$13.75. The firm has a market capitalization of C$656.34 million, a price-to-earnings ratio of 32.65 and a beta of 1.64.

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.