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Slate Retail REIT

OTCPK:SRRT.F
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SRRT.F
OTCPK
CA$419M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Slate Retail REIT is a real estate investment trust focused on U.S. The last earnings update was 23 days ago. More info.


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SRRT.F Share Price and Events
7 Day Returns
0%
OTCPK:SRRT.F
-0.3%
US REITs
0.2%
US Market
1 Year Returns
-9.6%
OTCPK:SRRT.F
13.3%
US REITs
2.9%
US Market
SRRT.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Slate Retail REIT (SRRT.F) 0% -2.6% -6.3% -9.6% -14.5% -
US REITs -0.3% 3.5% 3.2% 13.3% 11.3% 24.8%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • SRRT.F underperformed the REITs industry which returned 13.3% over the past year.
  • SRRT.F underperformed the Market in United States of America which returned 2.9% over the past year.

SRRT.F Value

 Is Slate Retail REIT undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Slate Retail REIT to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Slate Retail REIT.

OTCPK:SRRT.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:SRRT.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 26.5%) (283.05%))
1.422
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.42
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.422 * 5.96%)
11.21%

Discounted Cash Flow Calculation for OTCPK:SRRT.F using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Slate Retail REIT is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Slate Retail REIT is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

OTCPK:SRRT.F DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 11.21%)
2019 35.55 Analyst x2 31.97
2020 36.03 Analyst x2 29.13
2021 37.42 Est @ 3.87% 27.21
2022 38.75 Est @ 3.53% 25.33
2023 40.02 Est @ 3.29% 23.53
2024 41.27 Est @ 3.12% 21.82
2025 42.51 Est @ 3% 20.21
2026 43.75 Est @ 2.92% 18.70
2027 45.01 Est @ 2.86% 17.30
2028 46.28 Est @ 2.82% 16.00
Present value of next 10 years cash flows $231.20
OTCPK:SRRT.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $46.28 × (1 + 2.73%) ÷ (11.21% – 2.73%)
$560.78
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $560.78 ÷ (1 + 11.21%)10
$193.85
OTCPK:SRRT.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $231.20 + $193.85
$425.05
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $425.05 / 43.99
$17.1
OTCPK:SRRT.F Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:SRT.UN)
1.342
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $12.42 x 1.342
CA$16.67
Non-primary Listing Adjustment Factor 1 share in OTCPK:SRRT.F represents 0.72633x of TSX:SRT.UN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.72633x
Value per Share
(Listing Adjusted, USD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 16.67 x 0.72633
$12.10
Value per share (USD) From above. $12.10
Current discount Discount to share price of $9.13
= -1 x ($9.13 - $12.10) / $12.10
24.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Slate Retail REIT is available for.
Intrinsic value
25%
Share price is $9.13 vs Future cash flow value of $12.1
Current Discount Checks
For Slate Retail REIT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Slate Retail REIT's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Slate Retail REIT's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Slate Retail REIT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Slate Retail REIT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:SRRT.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.54
TSX:SRT.UN Share Price ** TSX (2019-05-08) in CAD CA$12.57
TSX:SRT.UN Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.745 $9.37
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.92x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Slate Retail REIT.

OTCPK:SRRT.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:SRT.UN Share Price ÷ EPS (both in USD)

= 9.37 ÷ -0.54

-17.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Slate Retail REIT is loss making, we can't compare its value to the US REITs industry average.
  • Slate Retail REIT is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Slate Retail REIT's expected growth come at a high price?
Raw Data
OTCPK:SRRT.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -17.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
39.2%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Slate Retail REIT, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Slate Retail REIT's assets?
Raw Data
OTCPK:SRRT.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $10.08
TSX:SRT.UN Share Price * TSX (2019-05-08) in CAD CA$12.57
TSX:SRT.UN Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.745 $9.37
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
OTCPK:SRRT.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:SRT.UN Share Price ÷ Book Value per Share (both in USD)

= 9.37 ÷ 10.08

0.93x

* Primary Listing of Slate Retail REIT.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Slate Retail REIT is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Slate Retail REIT's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Slate Retail REIT has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SRRT.F Future Performance

 How is Slate Retail REIT expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

  • No analysts cover Slate Retail REIT, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
39.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Slate Retail REIT expected to grow at an attractive rate?
  • Slate Retail REIT's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Slate Retail REIT's earnings growth is expected to exceed the United States of America market average.
  • Slate Retail REIT's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:SRRT.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:SRRT.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 39.2%
OTCPK:SRRT.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -6.2%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:SRRT.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:SRRT.F Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 129 47 2
2019-12-31 138 43 2
OTCPK:SRRT.F Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 144 50 -23
2018-12-31 144 58 2
2018-09-30 143 62 43
2018-06-30 137 59 35
2018-03-31 128 52 65
2017-12-31 119 50 47
2017-09-30 109 41 3
2017-06-30 103 42 -3
2017-03-31 100 41 -20
2016-12-31 97 39 -29
2016-09-30 95 43 -18
2016-06-30 94 41 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Slate Retail REIT's earnings are expected to grow significantly at over 20% yearly.
  • Slate Retail REIT's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:SRRT.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Slate Retail REIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:SRRT.F Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
OTCPK:SRRT.F Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.54
2018-12-31 0.06
2018-09-30 0.99
2018-06-30 0.80
2018-03-31 1.49
2017-12-31 1.07
2017-09-30 0.08
2017-06-30 -0.07
2017-03-31 -0.51
2016-12-31 -0.88
2016-09-30 -0.54
2016-06-30 0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Slate Retail REIT will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Slate Retail REIT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Slate Retail REIT has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SRRT.F Past Performance

  How has Slate Retail REIT performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Slate Retail REIT's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Slate Retail REIT does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Slate Retail REIT's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Slate Retail REIT's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Slate Retail REIT's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Slate Retail REIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:SRRT.F Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 144.12 -22.64
2018-12-31 144.21 2.46
2018-09-30 142.77 42.90
2018-06-30 137.10 35.11
2018-03-31 128.05 65.36
2017-12-31 118.74 47.31
2017-09-30 108.92 3.49
2017-06-30 102.59 -3.01
2017-03-31 100.06 -19.66
2016-12-31 97.04 -29.07
2016-09-30 95.10 -17.73
2016-06-30 93.81 0.51
2016-03-31 87.64 -15.84
2015-12-31 79.78 0.47
2015-09-30 71.18 -2.78 -0.86
2015-06-30 60.15 17.04 1.41
2015-03-31 52.13 32.90 1.70
2014-12-31 41.44 22.76 2.11
2014-09-30 32.29 19.60 3.87
2014-06-30 25.27 -0.73 1.92
2014-03-31 16.81 5.40 1.99
2013-12-31 12.57 0.00 1.92
2012-12-31 0.72 -14.65 0.49

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Slate Retail REIT has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Slate Retail REIT used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • It is difficult to establish if Slate Retail REIT improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Slate Retail REIT's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Slate Retail REIT has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SRRT.F Health

 How is Slate Retail REIT's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Slate Retail REIT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Slate Retail REIT's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Slate Retail REIT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Slate Retail REIT's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Slate Retail REIT Company Filings, last reported 1 month ago.

OTCPK:SRRT.F Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 421.17 884.33 2.53
2018-12-31 437.80 890.61 1.11
2018-09-30 478.58 896.97 8.64
2018-06-30 493.50 885.78 7.45
2018-03-31 77.66 1,312.16 12.97
2017-12-31 47.86 1,364.71 7.38
2017-09-30 13.14 1,344.27 17.60
2017-06-30 21.47 1,094.96 14.31
2017-03-31 6.20 1,047.29 12.17
2016-12-31 -2.93 1,022.33 13.43
2016-09-30 5.12 978.59 16.07
2016-06-30 20.43 964.65 17.09
2016-03-31 21.04 928.50 13.65
2015-12-31 21.80 913.55 11.86
2015-09-30 22.85 872.57 12.84
2015-06-30 19.92 827.60 15.96
2015-03-31 36.87 596.88 13.76
2014-12-31 21.33 580.82 13.17
2014-09-30 25.63 463.82 6.44
2014-06-30 2.88 424.91 13.88
2014-03-31 0.64 180.47 10.96
2013-12-31 0.64 180.47 10.96
2012-12-31 68.49 0.00 40.00
  • Slate Retail REIT's level of debt (210%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (27435.8% vs 210% today).
  • Debt is not well covered by operating cash flow (5.6%, less than 20% of total debt).
  • Slate Retail REIT is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Slate Retail REIT's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Slate Retail REIT has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SRRT.F Dividends

 What is Slate Retail REIT's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.13%
Current annual income from Slate Retail REIT dividends. Estimated to be 9.17% next year.
If you bought $2,000 of Slate Retail REIT shares you are expected to receive $183 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Slate Retail REIT's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Slate Retail REIT's dividend is above the markets top 25% of dividend payers in United States of America (3.7%).
Upcoming dividend payment

Purchase Slate Retail REIT before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:SRRT.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:SRRT.F Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.86 4.00
2019-12-31 0.86 4.00
OTCPK:SRRT.F Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-15 0.855 9.182
2019-04-15 0.855 9.227
2019-03-15 0.855 8.927
2019-02-15 0.855 8.900
2019-01-15 0.855 9.003
2018-12-17 0.855 9.695
2018-11-15 0.855 9.466
2018-10-15 0.840 8.666
2018-09-17 0.840 8.621
2018-08-15 0.840 8.542
2018-07-16 0.840 8.680
2018-06-15 0.840 8.595
2018-05-15 0.840 8.492
2018-04-16 0.840 8.647
2018-03-15 0.840 8.681
2018-02-15 0.840 8.892
2018-01-15 0.840 8.565
2017-12-15 0.840 8.192
2017-11-15 0.840 8.193
2017-10-16 0.810 7.796
2017-09-14 0.810 7.520
2017-08-15 0.810 7.589
2017-07-17 0.810 7.573
2017-06-15 0.810 7.719
2017-05-15 0.810 7.407
2017-04-17 0.810 7.340
2017-03-15 0.804 7.362
2017-02-15 0.810 7.512
2017-01-16 0.810 7.449
2016-12-15 0.810 7.307
2016-11-15 0.810 7.547
2016-10-17 0.810 7.838
2016-09-15 0.810 7.529
2016-08-16 0.779 7.124
2016-07-15 0.779 7.172
2016-06-15 0.779 7.413
2016-05-16 0.779 7.327
2016-04-15 0.779 7.510
2016-03-16 0.779 7.340
2016-02-16 0.779 7.407
2016-01-15 0.779 7.931
2015-12-15 0.779 7.700
2015-11-16 0.756 7.275
2015-10-15 0.756 7.383
2015-09-15 0.756 7.275
2015-08-17 0.756 7.285
2015-07-15 0.756 6.939
2015-06-16 0.756 7.220
2015-05-19 0.756 7.178
2015-04-17 0.756 7.221
2015-03-17 0.756 7.465
2015-02-17 0.756 7.272
2015-01-16 0.756 7.110
2014-12-15 0.756 7.395
2014-11-12 0.756 7.369
2014-10-16 0.720 7.300
2014-09-15 0.720 6.896
2014-08-15 0.720 6.343
2014-07-15 0.720 6.189
2014-06-19 0.720 6.078
2014-04-29 0.720 6.543

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Slate Retail REIT has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Slate Retail REIT only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Slate Retail REIT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Slate Retail REIT's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Slate Retail REIT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Slate Retail REIT has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SRRT.F Management

 What is the CEO of Slate Retail REIT's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Greg Stevenson
COMPENSATION $700,000
TENURE AS CEO 3.8 years
CEO Bio

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 since 2013 and played a pivotal role in the REIT’s ongoing growth and development. Mr. Stevenson is a Managing Director of Slate Asset Management, with significant experience in the real estate industry Prior to joining Slate, Mr. Stevenson held positions with a global real estate asset manager and a Canadian mutual fund manager. Mr. Stevenson received a Bachelor of Commerce degree (Honors) in economics from the University of Guelph and is a CFA charterholder.

CEO Compensation
  • Greg's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Greg's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Slate Retail REIT management team in years:

3.3
Average Tenure
  • The tenure for the Slate Retail REIT management team is about average.
Management Team

Greg Stevenson

TITLE
Chief Executive Officer
COMPENSATION
$700K
TENURE
3.8 yrs

Robert Armstrong

TITLE
Chief Financial Officer
COMPENSATION
$400K
TENURE
2.2 yrs

Katie Fasken

TITLE
Director of Business Development & Investor Relations
TENURE
3.3 yrs

Ramsey Ali

TITLE
Corporate Secretary & General Counsel of Slate Asset Management LP
TENURE
6.3 yrs

Lisa Rowe

TITLE
Senior Vice President of Finance & Taxation - Slate Asset Management LP
TENURE
6.3 yrs

Andrew Agatep

TITLE
Director & Controller
TENURE
4.3 yrs

David Dunn

TITLE
Vice President of Asset Management
TENURE
1.4 yrs

Will Miller

TITLE
Vice President of Asset Management
TENURE
1.4 yrs

Madeline Sarracini

TITLE
Analyst

Amanda Giardino

TITLE
Manager of Financial Analysis & Reporting
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure and age of the Slate Retail REIT board of directors in years:

7.3
Average Tenure
54
Average Age
  • The tenure for the Slate Retail REIT board of directors is about average.
Board of Directors

Tom Farley

TITLE
Chair of the Board
COMPENSATION
$96K
AGE
62
TENURE
4.9 yrs

Colum Bastable

TITLE
Independent Trustee
COMPENSATION
$65K
AGE
71
TENURE
5.2 yrs

Andrea Stephen

TITLE
Independent Trustee
COMPENSATION
$56K
AGE
54
TENURE
1.9 yrs

Sam Altman

TITLE
Independent Trustee
COMPENSATION
$51K
AGE
59
TENURE
7.3 yrs

Brady Welch

TITLE
AGE
48
TENURE
7.3 yrs

Pat Flatley

TITLE
Independent Trustee
COMPENSATION
$42K
AGE
54
TENURE
7.3 yrs

Blair Welch

TITLE
AGE
45
TENURE
7.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
22. Dec 18 Buy Blair Welch Individual 17. Dec 18 18. Dec 18 5,050 $8.67 $43,695
13. Dec 18 Buy Lisa Rowe Individual 12. Dec 18 12. Dec 18 1,770 $8.78 $15,533
17. Aug 18 Buy Brady Welch Individual 17. Aug 18 17. Aug 18 3,825 $9.90 $37,859
03. Aug 18 Buy Greg Stevenson Individual 03. Aug 18 03. Aug 18 5,090 $9.83 $50,025
X
Management checks
We assess Slate Retail REIT's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Slate Retail REIT has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SRRT.F News

Simply Wall St News

SRRT.F Company Info

Description

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. $1.4 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.

Details
Name: Slate Retail REIT
SRRT.F
Exchange: OTCPK
Founded:
CA$312,433,782
CA$391,413,880
43,990,985
Website: http://www.slateretailreit.com
Address: Slate Retail REIT
121 King Street West,
Suite 200,
Toronto,
Ontario, M5H 3T9,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX SRT.UN Class U Units The Toronto Stock Exchange CA CAD 22. Apr 2014
OTCPK SRRT.F Class U Units Pink Sheets LLC US USD 22. Apr 2014
Number of employees
Current staff
Staff numbers
0
Slate Retail REIT employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 06:32
End of day share price update: 2019/05/08 00:00
Last estimates confirmation: 2019/05/02
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.