Slate Office REIT (TSE:SOT.UN) Shares Up 2.2%

Slate Office REIT (TSE:SOT.UN) was up 2.2% on Tuesday . The stock traded as high as C$0.47 and last traded at C$0.47. Approximately 79,609 shares traded hands during trading, an increase of 11% from the average daily volume of 71,463 shares. The stock had previously closed at C$0.46.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SOT.UN shares. Royal Bank of Canada downgraded Slate Office REIT from a “sector perform” rating to an “underperform” rating and cut their target price for the stock 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. TD Securities lowered Slate Office REIT from a “hold” rating to a “sell” rating and dropped their price target for the company from C$0.75 to C$0.25 in a research report on Wednesday, June 26th. Finally, BMO Capital Markets lowered 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 report on Wednesday, June 26th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of C$0.54.

Slate Office REIT Stock Performance

The business’s 50-day simple moving average is C$0.36 and its 200 day simple moving average is C$0.49. The firm has a market cap of C$45.82 million, a P/E ratio of -0.14 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.

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.