Slate Office REIT (TSE:SOT.UN) Receives Consensus Rating of “Reduce” from Brokerages

Slate Office REIT (TSE:SOT.UN) has earned an average recommendation of “Reduce” from the six research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$1.22.

Several equities research analysts recently commented on the company. Cormark upgraded Slate Office REIT from a “reduce” rating to a “market perform” rating in a report on Friday, March 8th. TD Securities decreased their target price on Slate Office REIT from C$0.80 to C$0.75 in a research report on Wednesday, April 24th.

Slate Office REIT Stock Performance

Slate Office REIT stock opened at C$0.69 on Friday. The firm has a market capitalization of C$55.23 million, a P/E ratio of -0.49 and a beta of 0.94. The stock has a fifty day moving average price of C$0.74 and a 200 day moving average price of C$0.84. Slate Office REIT has a 52 week low of C$0.64 and a 52 week high of C$2.18. The company has a current ratio of 0.56, a quick ratio of 0.14 and a debt-to-equity ratio of 229.55.

About Slate Office REIT

Slate Office REIT is an open-ended real estate investment trust. The REIT's portfolio currently comprises 43 strategic and well-located real estate assets located primarily across Canada's major population centres including one downtown asset in Chicago, Illinois. The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions.