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Slate Grocery REIT (SGR-UN) investor relations material
Slate Grocery REIT Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Portfolio valued at $2.4B with 116 properties totaling 15.2M SF across 23 states, 95% grocery-anchored and 94.3% occupied as of September 30, 2025.
Achieved strong leasing momentum with 417,145 sq. ft. leased in Q3 2025 at double-digit rental spreads, supporting robust performance.
Focus on necessity-based, defensive grocery real estate with strong tenant demand and limited new supply.
Top tenants include six of the top seven US grocers by market share, with 69% essential tenancies.
Portfolio concentrated in high-growth US Sunbelt markets, with 57% of assets in this region.
Financial highlights
Average in-place rent is $12.82 per sq ft, significantly below the market average of $24.09, indicating potential for future rent growth.
Rental revenue increased 1.9% year-over-year to $53.3 million for Q3 2025.
Net operating income (NOI) rose 2.6% year-over-year to $43.0 million; same-property NOI up 2.8% on a trailing 12-month basis.
Net income surged 55.0% year-over-year to $11.2 million.
Weighted average interest rate stands at 5%, with over 90% of debt at fixed rates.
Outlook and guidance
Expectation of 3%-4% organic growth in net operating income to continue into 2026, driven by expiring leases and market rent growth.
Management expects continued growth, supported by below-market rents and resilient grocery-anchored demand.
In-place rents below market provide runway for long-term revenue growth and value creation.
Online grocery sales projected to grow to 12.4% of total sales by 2027, supporting omnichannel distribution strategies.
Continued conviction in the resilience and growth potential of grocery-anchored real estate.
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- DANSKE
Record core income and strong credit quality drove DKK 23.0bn net profit; 2026 outlook positive. - DANSKE
Record core income, strong credit quality, and 100% profit distribution define 2025 results. - 7211
Net sales and profits fell year-over-year, but recent earnings show gradual recovery. - 524742
Strong revenue and profit growth with robust margins and expanding global presence in Q3 FY26. - ANTHEM
Q3 FY26 saw robust revenue, profit growth, and capital increase post-IPO and ESOP allotments. - AFRY
Margin and utilization gains in Q4 offset lower sales and profit amid market challenges. - 8111
Sales and operating profit rose, but net profit fell on lower affiliate gains; outlook steady. - 7731
Large impairment in Digital Manufacturing and weak sales led to sharp losses and a weaker outlook. - 6370
Profits and sales rose, led by General Industry, with robust capital actions and a positive outlook. - 9312
Profits and dividends rose on strong domestic logistics, with improved financial stability.
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