Q: Hi Gang
Would you buy Slate at this time
Thanks Mike B
Would you buy Slate at this time
Thanks Mike B
5i Research Answer:
SGR is fairly small, and hardly exciting, but cash flow increased slightly in the recent quarter and the business is inherently stable. It is trading at a discount valuation to peers. Occupancy is good and rents are increasing. The payout ratio remains high (adjusted at 97%) and we would like to see this lower. We would give it an "ok" rating, with the valuation offsetting some of the mentioned risks.