Slate Office REIT (TSE:SOT.UN) Sets New 52-Week Low at $0.24

Slate Office REIT (TSE:SOT.UN)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as C$0.24 and last traded at C$0.26, with a volume of 308954 shares changing hands. The stock had previously closed at C$0.35.

Wall Street Analyst Weigh In

SOT.UN has been the subject of a number of research reports. Royal Bank of Canada cut shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from C$0.70 to C$0.30 in a research note on Wednesday. BMO Capital Markets cut Slate Office REIT from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from C$0.70 to C$0.30 in a research note on Wednesday. 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 lowered Slate Office REIT from a “neutral” rating to an “underperform” rating in a research note on Wednesday. Finally, TD Securities downgraded shares of Slate Office REIT from a “hold” rating to a “sell” rating and decreased their price target for the stock from C$0.75 to C$0.25 in a research note on Wednesday. Five research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, Slate Office REIT currently has an average rating of “Reduce” and a consensus price target of C$0.64.

Slate Office REIT Stock Down 32.9 %

The company has a quick ratio of 0.14, a current ratio of 0.51 and a debt-to-equity ratio of 234.35. The stock has a market capitalization of C$18.81 million, a P/E ratio of -0.14 and a beta of 0.93. The company has a fifty day moving average price of C$0.59 and a 200-day moving average price of C$0.72.

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.