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Slate Grocery REIT (SRRTF)
OTHER OTC:SRRTF
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.08Same Quarter Last Year
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2018
|% Change Since: -6.08%
|Next Earnings Date:Jul 31, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a strong operational performance with significant growth in leasing activity and successful debt refinancing, positioning the company well for future opportunities. However, challenges such as the units trading below net asset value and high costs remain. Overall, the positive aspects significantly outweigh the lowlights.Company Guidance
During the Q3 2024 earnings call for Slate Grocery REIT, the management provided strong guidance, highlighting significant financial and operational achievements. They reported a 6.2% year-over-year increase in same-property net operating income, adjusted for completed redevelopments, amounting to an additional $2.4 million. The team successfully completed over 850,000 square feet of leasing, with new deals executed at 24.8% above average in-place rents and non-option renewals at 14.1% above expiring rates. The REIT also refinanced $500 million of debt at favorable terms, with plans to refinance an additional $138 million. Following these efforts, the weighted average interest rate is projected to be 4.8%, indicating strong financial positioning. The management emphasized the ongoing demand for retail space, which allowed them to maintain pricing power and achieve rental increases, with the average in-place rent of $12.61 per square foot significantly below the market average of $23.58. Despite trading at a discount to net asset value, the REIT remains optimistic about growth opportunities in the grocery-anchored sector, which continues to present tailwinds for their portfolio.Strong Leasing Activity
The company completed over 850,000 square feet of total leasing in the quarter, with new deals completed at 24.8% above comparable average in-place rents and non-option renewals at 14.1% above expiring rents.
Same-Property Net Operating Income Growth
Same-property net operating income increased by $2.4 million or 6.2% year-over-year in the third quarter.
Successful Debt Refinancing
Refinanced $500 million of debt at favorable terms and is in advanced stages to refinance another $138 million of upcoming debt maturities. The forecasted weighted average interest rate will be 4.8%.
Limited New Supply
High construction and borrowing costs have limited new retail development, with less than 0.5% of new supply added in the last 12 months, supporting landlords' pricing power.
Future Investment Opportunities
Management sees compelling investment opportunities and is considering capital redeployment and redevelopment to drive growth.
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SRRTF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SRRTF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $9.77 | $9.82 | +0.45% |
| Aug 08, 2024 | $8.30 | $8.30 | -0.06% |
| May 01, 2024 | $7.45 | $7.56 | +1.52% |
| Feb 15, 2024 | $8.02 | $8.20 | +2.28% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Slate Grocery REIT (SRRTF) report earnings?
Slate Grocery REIT (SRRTF) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Slate Grocery REIT (SRRTF) earnings time?
Slate Grocery REIT (SRRTF) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SRRTF EPS forecast?
Currently, no data Available
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