Slate Grocery REIT (TSE:SGR.UN) Reaches New 1-Year High - What's Next?

Key Points

• Shares hit a new 52-week high, trading intraday as high as C$16.49 and last at C$16.35, with a market cap of about C$973 million and the 50/200-day moving averages at C$15.72/C$15.44.
• Monthly dividend announced of C$0.072 per share payable May 15 (ex-dividend April 30), implying a 5.3% yield but a concerning payout ratio of 127.84%.
• The REIT reported quarterly revenue of C$71.79 million and a net margin of 16.33%, but carries high leverage (debt-to-equity of 133.42) and very low liquidity ratios (current ratio 0.09, quick ratio 0.38), signalling potential financial risk despite stable grocery-anchored assets.

Slate Grocery REIT (TSE:SGR.UN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$16.49 and last traded at C$16.35, with a volume of 11533 shares traded. The stock had previously closed at C$16.42.

Slate Grocery REIT Stock Performance

The firm has a market cap of C$973.10 million, a P/E ratio of 24.30 and a beta of 1.29. The company has a current ratio of 0.09, a quick ratio of 0.38 and a debt-to-equity ratio of 133.42. The business's fifty day simple moving average is C$15.72 and its 200-day simple moving average is C$15.44.

Slate Grocery REIT (TSE:SGR.UN - Get Free Report) last announced its earnings results on Tuesday, February 10th. The company reported C$229.28 earnings per share for the quarter. The firm had revenue of C$71.79 million for the quarter. Slate Grocery REIT had a net margin of 16.33% and a return on equity of 5.14%. As a group, sell-side analysts expect that Slate Grocery REIT will post 1.8853755 earnings per share for the current year.

Slate Grocery REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.072 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. Slate Grocery REIT's payout ratio is presently 127.84%.

About Slate Grocery REIT

Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs. The REIT's resilient grocery-anchored portfolio and strong credit tenants are expected to provide unitholders with durable cash flows and the potential for capital appreciation over the longer term.

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