Slate Office REIT (TSE:SOT.UN) Receives C$0.54 Consensus Price Target from Analysts

Shares of Slate Office REIT (TSE:SOT.UN) have earned a consensus rating of “Strong Sell” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$0.54.

Several equities research analysts recently commented on SOT.UN shares. BMO Capital Markets cut Slate Office REIT from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from C$0.70 to C$0.30 in a research note on Wednesday, June 26th. Royal Bank of Canada cut Slate Office REIT from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company from C$0.70 to C$0.30 in a research note on Wednesday, June 26th. CIBC cut Slate Office REIT from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 26th. Finally, TD Securities cut Slate Office REIT from a “hold” rating to a “sell” rating and reduced their price objective for the company from C$0.75 to C$0.25 in a research note on Wednesday, June 26th.

Slate Office REIT Trading Up 1.4 %

TSE SOT.UN opened at C$0.37 on Tuesday. The business has a 50 day simple moving average of C$0.35 and a 200 day simple moving average of C$0.50. Slate Office REIT has a one year low of C$0.21 and a one year high of C$1.42. The stock has a market capitalization of C$29.34 million, a P/E ratio of -0.11 and a beta of 1.29. The company has a debt-to-equity ratio of 329.26, a current ratio of 0.47 and a quick ratio of 0.14.

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.