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

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $52.38

Rental mln

Revenue

Q2 Net $13.08

Income mln

Q2 $12.62

Adjusted mln

FFO

Q2 FFO $15.88

mln

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:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)