Slate Grocery REIT (SGR.UN:CA) — TD Securities downgraded the stock to Sell and raised its price target to C$13.00 from C$12.00. The target change represents a 8.3% increase. Slate announced a September 28 agreement to be acquired by a Brixmor–Everview joint venture for US$13.00 per unit in cash. The supplied analyst update quotes a C$13.00 target, whereas the announced offer is US$13.00; those amounts are not equivalent and the target currency needs confirmation against the original broker note. Looking ahead, investors will be watching the approval process, closing timetable and risk that the transaction does not complete on its announced terms, rather than assuming the offer is already realized.
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