Slate Office REIT (TSE:SOT.UN) Given Consensus Recommendation of “Strong Sell” by Brokerages

Shares of Slate Office REIT (TSE:SOT.UN) have been assigned a consensus rating of “Strong Sell” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$0.54.

SOT.UN has been the subject of several recent analyst reports. Royal Bank of Canada cut Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from C$0.70 to C$0.30 in a report on Wednesday, June 26th. TD Securities downgraded shares of Slate Office REIT from a “hold” rating to a “sell” rating and lowered their target price for the company from C$0.75 to C$0.25 in a report on Wednesday, June 26th. BMO Capital Markets downgraded shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from C$0.70 to C$0.30 in a research note on Wednesday, June 26th. Finally, CIBC cut shares of Slate Office REIT from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 26th.

Slate Office REIT Stock Up 8.2 %

Shares of TSE SOT.UN opened at C$0.40 on Tuesday. The firm has a market cap of C$31.75 million, a P/E ratio of -0.12 and a beta of 1.29. The company has a debt-to-equity ratio of 329.26, a quick ratio of 0.14 and a current ratio of 0.47. Slate Office REIT has a 1 year low of C$0.21 and a 1 year high of C$1.42. The firm’s 50 day moving average price is C$0.35 and its 200 day moving average price is C$0.50.

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.