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

Shares of Slate Office REIT (TSE:SOT.UN) have earned an average rating of “Strong Sell” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$0.54.

Several equities research analysts have commented on the company. BMO Capital Markets lowered Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their price objective for the stock from C$0.70 to C$0.30 in a research report on Wednesday, June 26th. 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. Cormark decreased their price objective on Slate Office REIT from C$0.80 to C$0.65 in a report on Tuesday, May 7th. CIBC cut shares of Slate Office REIT from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 26th. Finally, TD Securities downgraded Slate Office REIT from a “hold” rating to a “sell” rating and lowered their price objective for the stock from C$0.75 to C$0.25 in a research report on Wednesday, June 26th.

Slate Office REIT Stock Performance

SOT.UN stock opened at C$0.37 on Monday. Slate Office REIT has a twelve month low of C$0.21 and a twelve month high of C$1.72. The firm has a market cap of C$29.62 million, a price-to-earnings ratio of -0.23 and a beta of 1.30. The business’s fifty day simple moving average is C$0.38 and its two-hundred day simple moving average is C$0.62. The company has a quick ratio of 0.14, a current ratio of 0.51 and a debt-to-equity ratio of 234.35.

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.