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Slate Grocery REIT (SRRTF)
OTHER OTC:SRRTF
Earnings Data
Report Date
May 12, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.22Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple operational and strategic positives: sustained strong leasing performance (14.9% renewal spreads; 34.9% new-lease spreads), stable 94.4% occupancy, a pipeline of redevelopments contributing to NOI, successful JV consolidation and a $90M portfolio refinance at favorable pricing (SOFR+180, ~5.3% all-in), and a balance sheet with ~87% fixed-rate debt. Lowlights were largely timing and transitional — modest trailing NOI growth (+2%), some lingering vacancies from earlier 2025, and a temporary uptick in reported leverage due to consolidation and refinancing timing. Overall, the highlights and strategic actions to delever and simplify structure outweigh the challenges, and management expressed confidence in continued rent growth and transaction opportunities in 2026.Company Guidance
Robust Leasing Activity and Strong Spreads
Completed over 1.7 million square feet of leasing during the year; renewal spreads averaged 14.9% above expiring rents and new deals were completed at 34.9% above comparable average in-place rent, marking 11 straight quarters of strong leasing performance.
Same-Property NOI Growth
Adjusting for completed redevelopments, same-property net operating income increased by $3.3 million, or 2% on a trailing 12-month basis.
High and Stable Occupancy
Portfolio occupancy remained stable at 94.4%, supporting cash flow stability and leasing leverage.
Significant Rent Upside Opportunity
Portfolio average in-place rent is $12.86 per square foot versus a market average of $24.34 per square foot — approximately 47% below market — providing substantial runway for future rent increases.
Favorable Debt Profile and Recent Refinance
Weighted average interest rate is 5% with over 87% of debt at fixed rates, limiting near-term financing risk. Subsequent to quarter end the REIT refinanced an 8-property portfolio for $90 million (SOFR + 180bps; with a 12-month pay-fixed swap bringing the all-in to ~5.3%).
Positive Leverage and Lending Demand
Management notes the REIT's weighted average cap rate remains above its weighted average interest rate, preserving positive leverage. Lender demand for grocery-anchored real estate is described as strong and competitive.
Strategic JV Consolidation
Acquired the remaining minority interest in a 10-asset joint venture for $5.7 million, bringing ownership to 100%, enhancing refinancing flexibility and allowing capture of mark-to-market opportunities.
Non-Core Disposition to Delever
Sold a non-grocery-anchored property in Flower Mound, Texas at about a mid-7% cap rate, using proceeds to further delever the portfolio and simplify capital structure.
Low Rollover Risk in 2026
Less than 10% of gross leasable area (GLA) is expiring in 2026, reducing near-term renewal risk and supporting occupancy stability.
Asset Redevelopment Nearing Contribution
Redevelopment at Culver Ridge expected to bring the third and final tenant online later in 2026, contributing to NOI in the second half of the year.
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
SRRTF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | $11.80 | $11.87 | +0.61% |
Nov 05, 2025 | $10.24 | $10.31 | +0.67% |
Aug 06, 2025 | $9.98 | $9.84 | -1.45% |
May 05, 2025 | $9.69 | $9.81 | +1.31% |
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.
FAQ
When does Slate Grocery REIT (SRRTF) report earnings?
Slate Grocery REIT (SRRTF) is schdueled to report earning on May 12, 2026, Before Open (Confirmed).
What is Slate Grocery REIT (SRRTF) earnings time?
Slate Grocery REIT (SRRTF) earnings time is at May 12, 2026, Before Open (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