Slate Grocery REIT Q2 rental revenue rises

Overview

• Slate Grocery Q2 rental revenue rises 1.1% yr/yr

• Net income for Q2 declines 6.6% yr/yr

• Co completed 423,894 sq ft of total leasing in qtr, renewals completed at 13.8%, above expiring rents

Outlook

• Slate Grocery REIT expects stable growth in grocery-anchored real estate sector

• Company anticipates increased portfolio valuation over time

• Slate Grocery REIT sees significant runway for rent increases

• Company highlights stable financing costs with low debt maturity

Result Drivers

• LEASING SPREADS - Renewals completed at 13.8% above expiring rents and new deals 28.8% above comparable average in-place rent

• OCCUPANCY STABILITY - Portfolio occupancy remained stable at 94.0% as of June 30, 2025

• DEBT MANAGEMENT - Refinanced a four-property portfolio for $39.3 mln and entered into a $17.4 mln credit facility at attractive spreads

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy."

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nBw39x8hqa