Slate Grocery REIT
Market Cap
CA$471.6m
Last Updated
2021/04/10 22:53 UTC
Data Sources
Company Financials +
Executive Summary
Slate Grocery REIT is an owner and operator of U.S. More Details
Rewards
Risk Analysis
Snowflake Analysis
Solid track record, good value and pays a dividend.
Share Price & News
How has Slate Grocery REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SGR.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: SGR.UN's weekly volatility (2%) has been stable over the past year.
Market Performance
7 Day Return
3.1%
SGR.UN
2.7%
CA REITs
1.0%
CA Market
1 Year Return
74.5%
SGR.UN
17.4%
CA REITs
39.2%
CA Market
Return vs Industry: SGR.UN exceeded the Canadian REITs industry which returned 17.4% over the past year.
Return vs Market: SGR.UN exceeded the Canadian Market which returned 39.2% over the past year.
Shareholder returns
| SGR.UN | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.1% | 2.7% | 1.0% |
| 30 Day | 1.2% | 3.7% | 1.4% |
| 90 Day | 4.7% | 10.2% | 7.5% |
| 1 Year | 94.7%74.5% | 24.0%17.4% | 44.0%39.2% |
| 3 Year | 31.4%-2.2% | 26.8%7.8% | 32.2%19.6% |
| 5 Year | 41.1%-9.9% | 42.6%7.8% | 59.4%35.3% |
Long-Term Price Volatility Vs. Market
How volatile is Slate Grocery REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall St
Slate Grocery REIT (TSE:SGR.UN) Has A ROE Of 9.2%1 month ago | Simply Wall St
Slate Grocery REIT (TSE:SGR.UN) Long Term Shareholders are 28% In The Black3 months ago | Simply Wall St
Did Slate Grocery REIT (TSE:SGR.U) Use Debt To Deliver Its ROE Of 9.0%?Valuation
Is Slate Grocery REIT undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SGR.UN (CA$12.13) is trading below our estimate of fair value (CA$24.87)
Significantly Below Fair Value: SGR.UN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SGR.UN is good value based on its PE Ratio (9.9x) compared to the CA REITs industry average (10.9x).
PE vs Market: SGR.UN is good value based on its PE Ratio (9.9x) compared to the Canadian market (16.5x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate SGR.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: SGR.UN is overvalued based on its PB Ratio (1x) compared to the CA REITs industry average (0.9x).
Future Growth
How is Slate Grocery REIT forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
13.5%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if SGR.UN's forecast earnings growth is above the savings rate (1.5%).
Earnings vs Market: Insufficient data to determine if SGR.UN's earnings are forecast to grow faster than the Canadian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: SGR.UN's revenue (13.5% per year) is forecast to grow faster than the Canadian market (7.2% per year).
High Growth Revenue: SGR.UN's revenue (13.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if SGR.UN's Return on Equity is forecast to be high in 3 years time
Past Performance
How has Slate Grocery REIT performed over the past 5 years?
39.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SGR.UN has high quality earnings.
Growing Profit Margin: SGR.UN's current net profit margins (32.9%) are higher than last year (18.6%).
Past Earnings Growth Analysis
Earnings Trend: SGR.UN's earnings have grown significantly by 39.2% per year over the past 5 years.
Accelerating Growth: SGR.UN's earnings growth over the past year (57.8%) exceeds its 5-year average (39.2% per year).
Earnings vs Industry: SGR.UN earnings growth over the past year (57.8%) exceeded the REITs industry -17.1%.
Return on Equity
High ROE: SGR.UN's Return on Equity (9.2%) is considered low.
Financial Health
How is Slate Grocery REIT's financial position?
Financial Position Analysis
Short Term Liabilities: SGR.UN's short term assets ($36.6M) exceed its short term liabilities ($30.9M).
Long Term Liabilities: SGR.UN's short term assets ($36.6M) do not cover its long term liabilities ($839.9M).
Debt to Equity History and Analysis
Debt Level: SGR.UN's debt to equity ratio (170.7%) is considered high.
Reducing Debt: SGR.UN's debt to equity ratio has reduced from 4195.9% to 170.7% over the past 5 years.
Debt Coverage: SGR.UN's debt is not well covered by operating cash flow (5.1%).
Interest Coverage: SGR.UN's interest payments on its debt are not well covered by EBIT (2.4x coverage).
Balance Sheet
Dividend
What is Slate Grocery REIT current dividend yield, its reliability and sustainability?
8.95%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SGR.UN's dividend (8.95%) is higher than the bottom 25% of dividend payers in the Canadian market (1.47%).
High Dividend: SGR.UN's dividend (8.95%) is in the top 25% of dividend payers in the Canadian market (4.73%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, SGR.UN has been paying a dividend for less than 10 years.
Growing Dividend: SGR.UN's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (77.9%), SGR.UN's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SGR.UN's dividends in 3 years are forecast to be covered by earnings (76.1% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.3yrs
Average management tenure
CEO
David Dunn
1.08yrs
Tenure
US$118,197
Compensation
Mr. David Dunn serves as the Chief Executive Officer at Slate Grocery REIT (formerly known as Slate Retail REIT) since March 12, 2020 and also served as its Chief Operating Officer since December 16, 2019 ...
CEO Compensation Analysis
Compensation vs Market: David's total compensation ($USD118.20K) is below average for companies of similar size in the Canadian market ($USD749.62K).
Compensation vs Earnings: Insufficient data to compare David's compensation with company performance.
Leadership Team
Experienced Management: SGR.UN's management team is considered experienced (3.3 years average tenure).
Board Members
Experienced Board: SGR.UN's board of directors are considered experienced (7.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 15.3%.
Top Shareholders
Company Information
Slate Grocery REIT's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Slate Grocery REIT
- Ticker: SGR.UN
- Exchange: TSX
- Founded: NaN
- Industry: Retail REITs
- Sector: Real Estate
- Implied Market Cap: CA$471.572m
- Market Cap: CA$574.577m
- Shares outstanding: 48.53m
- Website: https://www.slategroceryreit.com
Location
- Slate Grocery REIT
- 121 King Street West
- Suite 200
- Toronto
- Ontario
- M5H 3T9
- Canada
Listings
Biography
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 m...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/04/10 22:53 |
| End of Day Share Price | 2021/04/09 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.