CIBC Lowers Slate Office REIT (TSE:SOT.UN) to Underperform

CIBC downgraded shares of Slate Office REIT (TSE:SOT.UN) from a neutral rating to an underperform rating in a report released on Wednesday, BayStreet.CA reports.

Other analysts also recently issued reports about the stock. TD Securities decreased their target price on shares of Slate Office REIT from C$0.80 to C$0.75 in a research report on Wednesday, April 24th. Cormark decreased their price objective on shares of Slate Office REIT from C$0.80 to C$0.65 in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, Slate Office REIT has a consensus rating of Reduce and an average target price of C$0.64.

Slate Office REIT Stock Performance

Shares of SOT.UN opened at C$0.22 on Wednesday. The company’s 50 day moving average price is C$0.56 and its 200 day moving average price is C$0.71. Slate Office REIT has a 52 week low of C$0.21 and a 52 week high of C$2.02. The company has a market capitalization of C$17.21 million, a PE ratio of -0.13 and a beta of 0.93. The company has a debt-to-equity ratio of 234.35, a quick ratio of 0.14 and a current ratio of 0.51.

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.