Slate Office REIT to Issue Monthly Dividend of $0.03 (TSE:SOT.UN)

Slate Office REIT (TSE:SOT.UNGet Rating) declared a monthly dividend on Monday, May 30th, TickerTech reports. Investors of record on Wednesday, June 15th will be paid a dividend of 0.0333 per share on Wednesday, June 15th. This represents a $0.40 annualized dividend and a yield of 8.04%. The ex-dividend date of this dividend is Monday, May 30th.

Shares of SOT.UN stock opened at C$4.97 on Friday. The stock has a 50-day simple moving average of C$5.05 and a 200 day simple moving average of C$5.04. Slate Office REIT has a fifty-two week low of C$4.71 and a fifty-two week high of C$5.48. The stock has a market capitalization of C$398.46 million and a P/E ratio of 6.54. The company has a quick ratio of 0.11, a current ratio of 0.14 and a debt-to-equity ratio of 172.33.

Several brokerages recently weighed in on SOT.UN. Canaccord Genuity Group decreased their target price on Slate Office REIT from C$6.00 to C$5.25 in a research note on Friday, May 13th. CIBC decreased their price target on Slate Office REIT from C$5.75 to C$5.25 and set a “neutral” rating for the company in a research report on Friday, May 13th. Finally, Raymond James decreased their price target on Slate Office REIT from C$5.50 to C$5.25 and set a “market perform” rating for the company in a research report on Tuesday, May 17th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, Slate Office REIT currently has a consensus rating of “Hold” and a consensus target price of C$5.38.

In other Slate Office REIT news, insider Sime Armoyan acquired 200,700 shares of Slate Office REIT stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average cost of C$4.80 per share, with a total value of C$962,356.50. Following the purchase, the insider now owns 8,297,600 shares in the company, valued at C$39,786,992.

About Slate Office REIT (Get Rating)

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.

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Dividend History for Slate Office REIT (TSE:SOT.UN)

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