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 REIT has a portfolio that spans 15.2 million square feet of GLA and consists of 116 critical real estate properties located in the United States of America. The REIT owns and operates real estate infrastructure across United States 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, Hocking Valley Mall, North Lake Commons, Eastpointe Shopping Center, Flower Mound Crossing, North Augusta Plaza, among others. The REIT's investment manager is Slate Asset Management (Canada) L.P.

TSX:SGR.UN - Post by User

Slate Grocery REIT > Should I add more of this or hold?

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Post by canadianon Sep 09, 2024 3:43pm

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Post# 36215332

Should I add more of this or hold?

I own few shares but not sure if I should buy more.

Average Mortgage interest rate of SGR currently is around 4.5%. All of their debt is in USA. Projected five year bond yield is between 3 and 3.5% for the foreseeable future. So SGR will be renewing mortgages at around 5 to 5.5%. Their payout ratio is almost 100%. With 10% rent increases every year, they will not be able to sustain their dividend. They might need to cut the dividend may be in end of 2025 or 2026 if US 5 year bond stays around 3.5%. What are your thoughts on this?

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