- Slate's portfolio consists of stable, defensive, grocery-anchored shopping centers.
- The portfolio is well-located in higher growth, smaller markets.
- Acquisition going-in cap rates at wide cost of capital spread, generating accretive earnings growth.
- Slate trades at a steep discount to peer shopping center REITs, as the private and public markets undervalue their assets.
- High leverage, e-commerce penetration in the grocery business, and low growth potential remain concerns.
For further details see:
Slate Grocery REIT: An Undervalued 8.5% Yield In An Overvalued Sector