Stock price when the opinion was issued
SGR's small size adds some risk, but it is priced well enough and cash flow is stable.
3% to 5% growth is expected.
We would prefer DIR.UN but if industrial sector exposure is not needed we would be fine with SGR.
Our January 23 comments still apply, but the valuation is better today.
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Trades on the TSX, but owns retail exclusively in the US. Grocery-anchored is quite defensive. In southern US and secondary markets. Not seeing the same growth as peers. Occupancy down. Look elsewhere.