Slate Office REIT (TSE:SOT.UN) Trading Down 5.9% – What’s Next?

Slate Office REIT (TSE:SOT.UN)’s share price fell 5.9% on Friday . The company traded as low as C$0.79 and last traded at C$0.80. 240,941 shares were traded during trading, an increase of 216% from the average session volume of 76,367 shares. The stock had previously closed at C$0.85.

Analyst Upgrades and Downgrades

SOT.UN has been the subject of a number of research analyst reports. CIBC cut Slate Office REIT from a “neutral” rating to an “underperform” rating 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 decreased their price target for the company from C$0.70 to C$0.30 in a report on Wednesday, June 26th. BMO Capital Markets downgraded shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from C$0.70 to C$0.30 in a research note on Wednesday, June 26th. Finally, TD Securities lowered 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 report on Wednesday, June 26th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of C$0.54.

Slate Office REIT Trading Down 10.6 %

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 company has a market cap of C$61.09 million, a price-to-earnings ratio of -0.23 and a beta of 1.29. The firm’s 50-day moving average price is C$0.38 and its 200 day moving average price is C$0.49.

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.