Royal Bank of Canada Cuts Slate Grocery REIT (TSE:SGR.UN) Price Target to C$9.00

Slate Grocery REIT (TSE:SGR.UN) had its target price reduced by Royal Bank of Canada from C$9.50 to C$9.00 in a report released on Monday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other brokerages also recently issued reports on SGR.UN. Scotiabank cut their price objective on shares of Slate Grocery REIT from C$9.50 to C$9.00 and set a sector perform rating on the stock in a research report on Thursday, May 2nd. Raymond James cut their price objective 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 research report on Wednesday, April 24th. Finally, CIBC lowered their target price on shares of Slate Grocery REIT from C$9.75 to C$9.50 and set a neutral rating for the company in a research note on Thursday, May 2nd.

Slate Grocery REIT Stock Up 0.4 %

Shares of Slate Grocery REIT stock opened at C$10.73 on Monday. The firm’s 50 day moving average price is C$11.14 and its 200-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 52-week low of C$9.56 and a 52-week high of C$13.75. The company has a market cap of C$634.46 million, a P/E ratio of 31.56 and a beta of 1.64.

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.