Analysts Set Slate Office REIT (TSE:SOT.UN) PT at C$0.54

Shares of Slate Office REIT (TSE:SOT.UN) have received an average rating of “Strong Sell” from the six analysts that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$0.54.

A number of analysts recently issued reports on SOT.UN shares. Royal Bank of Canada downgraded shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and decreased their price objective for the stock from C$0.70 to C$0.30 in a report on Wednesday, June 26th. TD Securities downgraded Slate Office REIT from a “hold” rating to a “sell” rating and dropped their price objective for the company from C$0.75 to C$0.25 in a research note on Wednesday, June 26th. Cormark decreased their target price on Slate Office REIT from C$0.80 to C$0.65 in a research report on Tuesday, May 7th. BMO Capital Markets lowered Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from C$0.70 to C$0.30 in a research note on Wednesday, June 26th. Finally, CIBC downgraded Slate Office REIT from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 26th.

Slate Office REIT Stock Performance

TSE:SOT.UN opened at C$0.36 on Friday. Slate Office REIT has a 52 week low of C$0.21 and a 52 week high of C$1.63. The firm has a 50-day moving average price of C$0.33 and a two-hundred day moving average price of C$0.55. The company has a debt-to-equity ratio of 329.26, a quick ratio of 0.14 and a current ratio of 0.47. The firm has a market cap of C$28.53 million, a price-to-earnings ratio of -0.11 and a beta of 1.30.

Slate Office REIT Company Profile

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.