TSX:SGR.UN - Post by User
Post by
logicandinertiaon May 12, 2021 10:04pm
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Post# 33189179
Q1 Highlights
Q1 HighlightsCall was encouraging. Talked up us market and role that anchor tenant grocers are playing today and going forward. Believe that they likely will post a gain on the acquisition closing in q3 due to falling cap rates and given that half the acquired portfolio is in Dallas/New York markets, the $127/foot pricing likely lower than current market conditions. Steady as she goes…
CEO on rents and spreads:
“We believe we are entering an environment now, where spreads and rents are going to go up. It is something we are talking about with our team these days. We worked with tenants throughout the pandemic, we limited rent increases to help the tenants we think are viable and will be around for the long haul. So, we feel the environment is changing now, to where we can push spreads, there are good tenants out there. The $5 trillion of stimulus that has been injected from the feds, the vaccine rollout in America is strong and America is open for business. And tenants are doing well. So, we feel like we are entering an environment where we can push spreads and bring them at or above our historical run rate.”