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 research report released on Monday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other analysts have also recently issued research reports about the company. CIBC reduced their price target on Slate Grocery REIT from C$9.75 to C$9.50 and set a neutral rating for the company in a research report on Thursday, May 2nd. Scotiabank reduced 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. Finally, Raymond James reduced 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 research report on Wednesday, April 24th.

Slate Grocery REIT Price Performance

SGR.UN opened at C$10.73 on Monday. The stock has a market cap of C$634.46 million, a price-to-earnings ratio of 31.56 and a beta of 1.64. 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 fifty day moving average price of C$11.14 and a 200 day moving average price of C$11.35.

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.