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

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

A number of brokerages have recently weighed in on SOT.UN. CIBC downgraded Slate Office REIT from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 26th. TD Securities cut Slate Office REIT from a “hold” rating to a “sell” rating and cut their price target for the company from C$0.75 to C$0.25 in a report on Wednesday, June 26th. Royal Bank of Canada lowered Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from C$0.70 to C$0.30 in a report on Wednesday, June 26th. Finally, BMO Capital Markets lowered Slate Office REIT from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from C$0.70 to C$0.30 in a research note on Wednesday, June 26th.

Slate Office REIT Stock Performance

Slate Office REIT stock opened at C$0.46 on Tuesday. The company has a current ratio of 0.47, a quick ratio of 0.14 and a debt-to-equity ratio of 329.26. The stock has a 50 day moving average of C$0.35 and a 200-day moving average of C$0.49. The stock has a market cap of C$36.97 million, a P/E ratio of -0.14 and a beta of 1.29. Slate Office REIT has a 52 week low of C$0.21 and a 52 week high of C$1.42.

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.