Slate Grocery REIT T.SGR.UN

Alternate Symbol(s): SRRTF

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Slate Grocery REIT (the REIT) is a Canada-based open-ended mutual fund trust. The REIT focuses on acquiring, owning, and leasing a portfolio of grocery-anchored real estate properties (the properties) in the United States of America (the U.S.). Its objectives are to provide unitholders with stable cash distributions from a portfolio of grocery-anchored real estate properties in the United States. The REIT owns and operates real estate infrastructure across U.S. metro markets. The Company's properties include Centerplace of Greeley, River Run, Sheridan Square, Flamingo Falls, Northlake Commons, Countryside Shoppes, Creekwood Crossing, Skyview Plaza, Riverstone Plaza, Fayetteville Pavilion, Clayton Corners, Apple Blossom Corners, Hillard Rome Commons and Riverdale Shops, among others. The REIT's investment manager is Slate Asset Management (Canada) L.P.

TSX:SGR.UN - Post by User

Slate Grocery REIT

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Post by CDNplungeron Aug 06, 2022 1:29am

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Post# 34875983

RBC comments

Setting up well for a weaker backdrop

Sector Perform, Price Target raised to $12 from $11.50

Our view: Our stable view on SGR is unchanged, post Q2/22 results that were a bit short of our call.

As economic traction dials back, we believe the portfolio is in good form to navigate, supported by its predominantly essential needs tenant base.

Leasing spreads are tracking well in the low-double digit range, which coupled with rising market rents and stable occupancy should setup SGR for steady, low-single digit organic growth.

As well, its recently created strategic JV provides a new source of private capital to fund growth initiatives.

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