Slate Office REIT (TSE:SOT.UN) Receives Average Recommendation of “Strong Sell” from Brokerages

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

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

Slate Office REIT Price Performance

Shares of Slate Office REIT stock opened at C$0.36 on Tuesday. The stock has a market capitalization of C$28.94 million, a P/E ratio of -0.11 and a beta of 1.29. 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 business’s fifty day moving average price is C$0.35 and its 200 day moving average price is C$0.50. Slate Office REIT has a twelve month low of C$0.21 and a twelve month high of C$1.42.

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.