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Slate Grocery REIT (TSE:SGR.UN)
TSX:SGR.UN
Earnings Data
Report Date
Jul 30, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 05, 2025
|% Change Since: 2.96%
|Next Earnings Date:Jul 30, 2025
Earnings Call Sentiment|Positive
The earnings call for Slate Grocery REIT's Q1 2025 was predominantly positive, with significant achievements in leasing volumes, rental spreads, and net operating income growth. The REIT's stable occupancy and proactive debt management further bolster its position. Although there was a temporary setback due to a tenant bankruptcy, it is viewed as an opportunity to capture higher market rents. Overall, the favorable market conditions and strategic management decisions outweigh the minor challenges faced.Company Guidance
During the Slate Grocery REIT Q1 2025 conference call, the management provided optimistic guidance, highlighting robust leasing performance with double-digit rental spreads contributing to a 4.3% increase in same-property net operating income, equivalent to $6.8 million on a trailing 12-month basis. Leasing activity was strong, with over 220,000 square feet completed, and renewal spreads achieved a record high of 17% above expiring rents, while new deals were 22% above comparable in-place rents. Portfolio occupancy was stable at 94.4%, and the average rent of $12.72 per square foot remains significantly below the market average of $23.85, indicating potential for further rent increases. The REIT has only $179 million of debt maturing in 2025, constituting less than 13% of total debt, and productive refinancing discussions are underway. The management expressed confidence in the grocery-anchored sector's resilience amidst economic uncertainties, citing limited new retail development and high construction costs as factors bolstering the value of existing well-located centers. They also noted that recent tenant bankruptcies are creating opportunities to mark spaces to market, potentially yielding higher rents. Overall, the management remains positive about the REIT's growth prospects and its ability to generate long-term value for unitholders.Record Leasing Volumes and Rental Spreads
Slate Grocery REIT completed over 220,000 square feet of total leasing in Q1 2025, with renewal spreads reaching a record high of 17% above expiring rents and new deals completed at over 22% above comparable average in-place rents.
Increase in Net Operating Income
Adjusting for completed redevelopments, same-property net operating income increased by $6.8 million or 4.3% on a trailing 12-month basis.
Stable Portfolio Occupancy
Portfolio occupancy remained stable at 94.4%, with average in-place rent at $12.72 per square foot, significantly below the market average of $23.85 per square foot.
Debt Management
Slate Grocery REIT has only $179 million of debt maturing in 2025, representing less than 13% of the total debt. Post-quarter end, $17 million of debt was financed at attractive terms, with positive discussions underway for the remaining 2025 debt maturities.
Favorable Market Conditions
High construction costs and tight lending conditions limit new retail development, reinforcing the value of existing centers and providing a favorable environment for rent increases.
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TSE:SGR.UN 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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TSE:SGR.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| May 05, 2025 | C$14.21 | C$14.41 | +1.41% |
| Feb 12, 2025 | C$13.51 | C$13.57 | +0.44% |
| Nov 06, 2024 | C$13.12 | C$13.30 | +1.37% |
| Aug 08, 2024 | C$11.06 | C$11.08 | +0.18% |
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 (TSE:SGR.UN) report earnings?
Slate Grocery REIT (TSE:SGR.UN) is schdueled to report earning on Jul 30, 2025, TBA Not Confirmed.
What is Slate Grocery REIT (TSE:SGR.UN) earnings time?
Slate Grocery REIT (TSE:SGR.UN) earnings time is at Jul 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:SGR.UN EPS forecast?
Currently, no data Available
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