Slate Grocery price target raised to $10 from $9 at Scotiabank

Scotiabank raised the firm’s price target on Slate Grocery (SRRTF) to $10 from $9 and keeps a Sector Perform rating on the shares. Slate Grocery is one of the best-performing Retail REITs listed on TSX this year, the analyst tells investors. The company is a small cap name with higher leverage and has benefited from rate-driven REITs rally in the second half of the year, the firm adds. High distribution yield comes with a high payout ratio and, while management is committed to maintaining the distribution in the near term, the firm does not expect a cut anytime soon.