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    REIT - Retail
Slate Grocery REIT

Slate Grocery REIT

SGR-U.TO
Slate Grocery REITCA flagToronto Stock Exchange
12.60
USD
+0.04
- -
746.16MMarket Cap
Slate Grocery REIT
SGR-U.TO
(Toronto Stock Exchange)

Recent

price

12.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.22
0.93
2.32
3.14
3.07
2.7
3.16
3.45
2.66
2.35
2.94
3.43
3.54
3.6
3.73
Revenue per Share
-0.06
- -
0.93
0.99
0.82
1.22
-0.15
0.75
0.87
1.55
2.13
0.23
0.67
0.73
0.75
Basic EPS, GAAP
-0.03
0.2
0.55
1.31
1.23
0.86
0.93
1.08
0.83
0.86
0.98
1.29
1.2
1.13
1.18
Free Cash Flow per Basic Share
- -
0.1
0.51
0.78
0.82
0.77
0.82
0.92
0.77
0.75
0.86
0.87
0.86
0.86
0.85
Dividend per Share
4.16
- -
1.19
0.74
-0.09
1.09
10.4
9.84
9.56
10.53
12.27
11.6
11.39
11.12
11.16
Book Value per Share
4.16
- -
1.19
0.74
-0.09
1.09
10.4
9.84
9.56
10.53
12.27
11.6
11.39
11.12
11.16
Tangible Book Value per Share
14
14
18
25
32
44
46
41
47
59
60
59
59
59
60
Basic Weighted Avg Shares
3
13
41
80
97
119
144
141
126
138
177
203
209
213
225
Sales/Revenue/Turnover
45.48
61.21
67.46
68.29
66.52
68.57
65.53
64.01
65.69
65.9
63.86
61.43
61.99
62.03
61.8
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
-1
- -
17
25
26
54
-7
31
41
91
129
14
40
43
46
Net Income, GAAP
151.77
90.52
47.34
41.55
30.69
- -
- -
23.7
25.33
28.16
19.59
6.01
13.73
10.55
11.67
Effective Tax Rate (%)
-26.03
- -
40.15
31.62
26.9
45.12
-4.78
21.79
32.71
65.72
72.57
6.69
18.97
20.33
20.23
Profit Margin (%)
5
10
13
8
7
8
-2
-88
6
-13
-79
-300
-43
-71
-15
Working Capital
85
105
368
579
623
880
869
709
721
929
1,040
860
1,121
1,225
1,278
LT Debt
57
1
21
22
-3
48
438
403
453
624
931
867
854
836
841
Total Equity
- -
0.59
5.94
6.41
7.31
- -
- -
5.52
5.22
4.78
5.03
5.74
5.53
5.7
5.91
Return on Invested Capital (%)
- -
-0.37
7.28
6.82
6.36
- -
- -
4.73
4.87
7.82
8.34
3.34
4.26
4.37
4.4
Return on Capital (%)
- -
- -
156.02
116.97
- -
- -
-2.84
7.32
9.64
16.96
18.95
1.9
5.83
6.51
6.86
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
78
8
25
LT Borrowings
1,225
1,295
1,278
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
59
59
59
Market Capitalization
668
636
730

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
59
74
71
Cash, Cash Equivalents & STI
22
25
25
Accounts Receivable, Net
10
8
7
Inventories
- -
- -
- -
Total Current Liabilities
131
63
86
Payables & Accruals
36
39
44
ST Debt
78
8
25
Deferred Revenue
8
8
8

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-95.03%
15.31%
-2.09%
Free Cash Flow
8.2%
12.39%
-5.65%
Net Income, GAAP
-24.32%
54.73%
9.38%
Sales/Revenue/Turnover
11.01%
11.48%
2.02%
Total Cash Common Dividend
10.73%
7.49%
0.05%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
52
52
52
53
209
2025
53
52
53
55
213
2026
59
58
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.17
0.17
0.13
- -
0.67
2025
0.21
0.18
0.14
- -
0.73
2026
0.24
0.19
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.21
0.21
0.21
- -
0.86
2025
0.21
0.21
0.21
- -
0.86
2026
0.21
0.21
- -
- -
- -
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Business
Slate Grocery REIT is an unincorporated, open-ended real estate investment trust that owns, operates and manages U.S. grocery-anchored retail real estate. The REIT’s principal business is to generate rental income and long-term value from a portfolio of neighbourhood and community shopping centres, retail plazas and grocery-anchored properties located in high-growth U.S. markets with favourable demographics. Its services include retail-property ownership; asset and portfolio management; leasing, lease renewals and tenant merchandising; redevelopment and value-add capital projects; financing and refinancing activities; and property-management oversight, including the outsourcing of certain property-management and real estate functions. The portfolio is anchored by major grocery retailers and includes complementary tenants providing essential goods and services, such as pharmacies, restaurants, fitness operators, discount retailers, apparel stores, home and personal services, and other necessity-based retailers. Slate Grocery REIT operates as a pure-play U.S. grocery-anchored real estate owner, with 115 properties that were approximately 96% grocery-anchored as of December 31, 2025, while its head office is located at 121 King Street West, Suite 1600, Toronto, Ontario, Canada. The REIT was founded in 2012 and is externally managed by Slate Management ULC, an affiliate of Slate Asset Management. In recent strategic developments, Slate Grocery REIT acquired on December 1, 2025 the remaining minority interest in its 10-property Tom Thumb joint-venture portfolio for US$5.7 million, increasing its ownership to 100% and improving refinancing flexibility and future mark-to-market potential. The REIT also disposed of Flower Mound Crossing, a non-grocery-anchored property in Flower Mound, Texas, on December 9, 2025 for US$16.5 million, applying the proceeds toward debt reduction and further concentrating its portfolio on grocery-anchored assets. In January 2026, it entered into a US$90.0 million mortgage secured by eight properties, with a maturity in July 2027 and an extension option, as part of its ongoing refinancing and balance-sheet management initiatives.