Slate Retail REIT is a real estate investment trust focused on U.S.
Average dividend payer and fair value.
Share Price & News
How has Slate Retail REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SRT.UN has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: SRT.UN underperformed the Canadian REITs industry which returned 13.2% over the past year.
Return vs Market: SRT.UN exceeded the Canadian Market which returned 0.5% over the past year.
Price Volatility Vs. Market
How volatile is Slate Retail REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall StA Closer Look At Slate Retail REIT's (TSE:SRT.UN) Uninspiring ROE
2 months ago | Simply Wall StDid Slate Retail REIT's (TSE:SRT.UN) Share Price Deserve to Gain 11%?
4 months ago | Simply Wall StWe Wouldn't Be Too Quick To Buy Slate Retail REIT (TSE:SRT.UN) Before It Goes Ex-Dividend
Is Slate Retail REIT undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SRT.UN (CA$13.35) is trading below our estimate of fair value (CA$17.19)
Significantly Below Fair Value: SRT.UN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SRT.UN is poor value based on its PE Ratio (131x) compared to the REITs industry average (10.7x).
PE vs Market: SRT.UN is poor value based on its PE Ratio (131x) compared to the Canadian market (15.4x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate SRT.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: SRT.UN is good value based on its PB Ratio (1x) compared to the CA REITs industry average (1.1x).
How is Slate Retail REIT forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if SRT.UN's forecast earnings growth is above the savings rate (1.4%).
Earnings vs Market: Insufficient data to determine if SRT.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: SRT.UN's revenue is expected to decline over the next 3 years (-1.8% per year).
High Growth Revenue: SRT.UN's revenue is forecast to decline over the next 3 years (-1.8% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if SRT.UN's Return on Equity is forecast to be high in 3 years time
How has Slate Retail REIT performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SRT.UN has a large one-off loss of $45.3M impacting its September 30 2019 financial results.
Growing Profit Margin: SRT.UN's current net profit margins (2.3%) are lower than last year (30%).
Past Earnings Growth Analysis
Earnings Trend: SRT.UN's earnings have grown by 1.2% per year over the past 5 years.
Accelerating Growth: SRT.UN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SRT.UN had negative earnings growth (-92.3%) over the past year, making it difficult to compare to the REITs industry average (9.2%).
Return on Equity
High ROE: SRT.UN's Return on Equity (0.8%) is considered low.
Return on Assets
Return on Capital Employed
How is Slate Retail REIT's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: SRT.UN has a high level of physical assets or inventory.
Debt Coverage by Assets: SRT.UN's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: SRT.UN's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if SRT.UN has a sufficient allowance for bad loans.
Low Risk Liabilities: SRT.UN reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if SRT.UN has an acceptable proportion of non-loan assets held.
Low Risk Deposits: SRT.UN has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if SRT.UN has an appropriate level of bad loans.
What is Slate Retail REIT's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: SRT.UN's dividend (8.6%) is higher than the bottom 25% of dividend payers in the Canadian market (2.02%).
High Dividend: SRT.UN's dividend (8.6%) is in the top 25% of dividend payers in the Canadian market (5.7%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, SRT.UN has been paying a dividend for less than 10 years.
Growing Dividend: SRT.UN's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (67%), SRT.UN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SRT.UN's dividends in 3 years are forecast to be thoroughly covered by earnings (1.7% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Greg Stevenson 0
Mr. Greg Stevenson has been Chief Executive Officer of the Slate Retail REIT on August 12, 2015. Mr. Stevenson had been responsible for asset management and operational oversight of the REIT’s portfolio si ...
CEO Compensation Analysis
Compensation vs Market: Greg's total compensation ($USD526.78K) is below average for companies of similar size in the Canadian market ($USD1.01M).
Compensation vs Earnings: Greg's compensation has been consistent with company performance over the past year.
|Chief Executive Officer||4.5yrs||US$700.00k||0.11% $469.2k|
|Chief Financial Officer||0.2yrs||no data||0.00034% $1.4k|
|Chief Operating Officer||0.2yrs||no data||no data|
|Director of Business Development & Investor Relations||4.1yrs||no data||no data|
|Corporate Secretary & General Counsel of Slate Canada||7.1yrs||no data||no data|
|Senior Vice President of Finance & Taxation of Slate Canada||7.1yrs||no data||0.017% $71.0k|
|Managing Director of Development||0yrs||no data||no data|
|Vice President of Asset Management||2.2yrs||no data||no data|
|Analyst||0yrs||no data||no data|
|Manager of Financial Analysis & Reporting||2.2yrs||no data||no data|
Experienced Management: SRT.UN's management team is considered experienced (3.1 years average tenure).
|Independent Trustee||8yrs||US$51.00k||0.82% $3.5m|
|Independent Trustee||5.9yrs||US$64.50k||0.0093% $39.5k|
|Chair of the Board||5.7yrs||US$96.00k||0.24% $1.0m|
|Independent Trustee||2.7yrs||US$56.00k||0.025% $105.0k|
|Independent Trustee||8yrs||US$42.00k||0.0098% $41.9k|
|8.1yrs||no data||no data|
|8yrs||no data||0.058% $248.7k|
Experienced Board: SRT.UN's board of directors are considered experienced (8 years average tenure).
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
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Slate Retail REIT's company bio, employee growth, exchange listings and data sources
- Name: Slate Retail REIT
- Ticker: SRT.UN
- Exchange: TSX
- Industry: Retail REITs
- Sector: Real Estate
- Implied Market Cap: CA$426.421m
- Market Cap: CA$538.856m
- Shares outstanding: 42.09m
- Website: https://www.slateretailreit.com
- Slate Retail REIT
- 121 King Street West
- Suite 200
- M5H 3T9
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|SRT.UN||TSX (The Toronto Stock Exchange)||Yes||Class U Units||CA||CAD||Apr 2014|
|SRRT.F||OTCPK (Pink Sheets LLC)||Yes||Class U Units||US||USD||Apr 2014|
Slate Retail REIT is a real estate investment trust focused on U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $1.3 billion of assets located across the top 50 U.S. metro markets that are visited regularly by consumers for their everyday needs. The REIT’s diversified portfolio and quality tenant covenants, provides a strong basis to continue to grow unitholder distributions and the flexibility to capitalize on opportunities that drive value appreciation.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/27 02:44|
|End of Day Share Price||2020/02/26 00:00|
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.