Slate Office REIT (TSE:SOT.UN) Shares Cross Above 50-Day Moving Average – Should You Sell?

Slate Office REIT (TSE:SOT.UN) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$0.42 and traded as high as C$0.68. Slate Office REIT shares last traded at C$0.67, with a volume of 200,591 shares traded.

Analyst Ratings Changes

Several brokerages have issued reports on SOT.UN. BMO Capital Markets downgraded Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their price target for the stock 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 dropped their target price for the stock from C$0.75 to C$0.25 in a report on Wednesday, June 26th. Royal Bank of Canada lowered shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and cut their price target for the company from C$0.70 to C$0.30 in a research note on Wednesday, June 26th. Finally, CIBC downgraded shares of Slate Office REIT from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 26th. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of C$0.54.

Slate Office REIT Stock Up 3.1 %

The company has a current ratio of 0.47, a quick ratio of 0.14 and a debt-to-equity ratio of 329.26. The firm’s 50 day moving average price is C$0.42 and its two-hundred day moving average price is C$0.49. The company has a market capitalization of C$53.85 million, a price-to-earnings ratio of -0.20 and a beta of 1.35.

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.