Slate Grocery REIT
TSX:SGR.UN

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Slate Grocery REIT
TSX:SGR.UN
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Price: 14.95 CAD 1.08% Market Closed
Market Cap: 884.3m CAD

Slate Grocery REIT
Investor Relations

Slate Grocery REIT operates as a real estate investment trust, which engages in acquiring, owning, and leasing a portfolio of diversified revenue-producing commercial real estate properties. The company is headquartered in Toronto, Ontario. The company went IPO on 2014-04-22. 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.). The REIT owns and operates approximately U.S. $2.4 billion of real estate infrastructure across U.S. metro markets. Its 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. The REIT's investment manager is Slate Asset Management (Canada) L.P.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 6, 2025
AI Summary
Q3 2025

Leasing Momentum: Slate Grocery REIT completed over 417,000 square feet of leasing in Q3, with renewal deals at 15% above expiring rents and new leases at 35% above average in-place rent.

Occupancy: Portfolio occupancy remained stable at 94%, supported by continued leasing activity across junior anchor and small shop spaces.

Organic Growth: Same-property net operating income increased by $4.3 million or 2.7% on a trailing 12-month basis; management expects 3% to 4% organic growth to continue into 2026.

Rent Growth Opportunity: In-place rents of $12.82 per square foot remain well below the $24.09 market average, providing further runway for increases.

Debt & Leverage: Over 90% of the REIT's debt is fixed at a 5% average interest rate, with about 200 basis points of positive leverage between cap rate and financing costs.

Market Conditions: Management highlighted resilient demand for grocery-anchored retail, tight new supply, and a strong transaction pipeline, expecting continued stability and value growth.

Key Financials
Total Leasing Completed
417,000 sq ft
Renewal Rental Spread
15% above expiring rents
New Lease Rental Spread
35% above comparable average in-place rent
Same-Property Net Operating Income
$4.3M increase
Portfolio Occupancy
94%
Average In-Place Rent
$12.82 per sq ft
Market Average Rent
$24.09 per sq ft
Weighted Average Interest Rate
5%
Proportion of Debt Fixed
over 90%
Positive Leverage (Cap Rate vs. Financing Cost)
200 bps
Other Earnings Calls

Management

Mr. Blair Welch C.A.
CEO & Trustee
No Bio Available
Mr. Joseph Pleckaitis
Chief Financial Officer
No Bio Available
Ms. Billie McCormick
Director of Human Resources & Operations
No Bio Available
Mr. Matt Edgar
Chief Technology Officer
No Bio Available
Ms. Katie Fasken
Managing Director of Investor Relations
No Bio Available
Mr. Ramsey Ali J.D.
Corporate Secretary & General Counsel
No Bio Available
Ms. Karolina Kmiecik
Senior VP & Head of Communications
No Bio Available
Ms. Lisa Rowe
Partner
No Bio Available
Mr. John Murray
Senior Vice President of Legal
No Bio Available
Ms. Bozena Maria Jankowska
MD & Global Head of ESG
No Bio Available

Contacts

Address
ONTARIO
TORONTO
121 King Street West, Suite 200
Contacts