Slate Grocery REIT (OTCMKTS:SRRTF) Sees Significant Drop in Short Interest

Slate Grocery REIT (OTCMKTS:SRRTF) was the recipient of a significant drop in short interest during the month of October. As of October 30th, there was short interest totaling 305,308 shares, a drop of 66.1% from the October 15th total of 900,462 shares. Based on an average daily volume of 47,780 shares, the short-interest ratio is presently 6.4 days.

Institutional Investors Weigh In On Slate Grocery REIT

An institutional investor recently bought a new stake in Slate Grocery REIT stock. Compass Financial Management LLC purchased a new stake in Slate Grocery REIT (OTCMKTS:SRRTF) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,500 shares of the company’s stock, valued at approximately $80,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Canadian Imperial Bank of Commerce set a $8.25 price target on Slate Grocery REIT in a research report on Friday, September 25th. TD Securities cut Slate Grocery REIT to a “sell” rating and set a $13.00 price target for the company. in a report on Tuesday, September 29th. Finally, Scotiabank reiterated a “sector perform” rating and set a $13.00 price target on shares of Slate Grocery REIT in a research report on Tuesday, September 29th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $11.42.

Slate Grocery REIT Trading Down 0.0%

SRRTF stock opened at $12.42 on Friday. The business’s 50-day moving average is $11.81 and its 200 day moving average is $11.82. Slate Grocery REIT has a 12-month low of $6.60 and a 12-month high of $13.51.

About Slate Grocery REIT

Slate Grocery REIT is a real estate investment trust focused on owning, operating and managing grocery-anchored retail properties in the United States. Its portfolio is designed to serve everyday consumer needs and is anchored by supermarket tenants, which are supported by complementary retailers such as pharmacies, restaurants, service providers and other convenience-oriented businesses. The trust’s properties are generally located in established communities and metropolitan areas across the United States.