Slate Office REIT (TSE:SOT.UN) PT Lowered to C$0.65

Slate Office REIT (TSE:SOT.UN) had its target price cut by equities researchers at Cormark from C$0.80 to C$0.65 in a research report issued on Tuesday, BayStreet.CA reports. Cormark’s price target suggests a potential downside of 4.41% from the stock’s previous close.

Several other equities research analysts also recently weighed in on SOT.UN. CIBC decreased their target price on Slate Office REIT from C$1.00 to C$0.75 and set a “neutral” rating for the company in a research report on Monday. TD Securities reduced their price target on Slate Office REIT from C$0.80 to C$0.75 in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Slate Office REIT currently has an average rating of “Hold” and a consensus price target of C$0.90.

Slate Office REIT Stock Performance

TSE:SOT.UN opened at C$0.68 on Tuesday. Slate Office REIT has a twelve month low of C$0.64 and a twelve month high of C$2.13. The firm’s fifty day simple moving average is C$0.73 and its 200 day simple moving average is C$0.82. The company has a current ratio of 0.52, a quick ratio of 0.14 and a debt-to-equity ratio of 234.35. The firm has a market capitalization of C$54.43 million, a price-to-earnings ratio of -0.48 and a beta of 0.94.

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.