Slate Office REIT (OTCMKTS:SLTTF – Get Rating) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totalling 47,700 shares, a drop of 71.2% from the April 30th total of 165,700 shares. Based on an average daily trading volume, of 100 shares, the days-to-cover ratio is presently 477.0 days.
Slate Office REIT Stock Performance
Shares of SLTTF stock remained flat at $1.53 during trading hours on Friday. 3,273 shares of the stock traded hands, compared to its average volume of 8,831. The firm has a 50 day moving average price of $1.81 and a 200 day moving average price of $2.75. Slate Office REIT has a 12-month low of $1.50 and a 12-month high of $3.95.
Wall Street Analysts Forecast Growth
SLTTF has been the topic of several research analyst reports. National Bank Financial reduced their price objective on Slate Office REIT from C$2.75 to C$2.50 in a research note on Tuesday, April 18th. Raymond James dropped their price objective on shares of Slate Office REIT from C$4.25 to C$3.25 in a research note on Thursday, April 6th. TD Securities dropped their price objective on shares of Slate Office REIT from C$3.75 to C$2.50 in a research note on Wednesday, May 3rd. Royal Bank of Canada dropped their price objective on shares of Slate Office REIT from C$4.75 to C$2.75 in a research note on Wednesday, May 3rd. Finally, CIBC lowered their target price on Slate Office REIT from C$5.00 to C$3.00 in a report on Thursday, April 13th.
About Slate Office REIT
Slate Office REIT engages in investment in a diversified portfolio of income-producing real property investments used for office purposes. It office properties include buildings and complexes providing office space for federal and provincial governments and various service companies. The company was founded on August 27, 2012 and is headquartered in Toronto, Canada.
- Get a free copy of the StockNews.com research report on Slate Office REIT (SLTTF)
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