CIBC Trims Slate Office REIT (TSE:SOT.UN) Target Price to C$0.75

Slate Office REIT (TSE:SOT.UN) had its price objective dropped by analysts at CIBC from C$1.00 to C$0.75 in a report released on Monday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price objective suggests a potential upside of 7.14% from the stock’s current price.

Several other analysts have also issued reports on SOT.UN. Cormark raised shares of Slate Office REIT from a “reduce” rating to a “market perform” rating in a research report on Friday, March 8th. TD Securities cut their target price on shares of Slate Office REIT from C$0.80 to C$0.75 in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, Slate Office REIT has a consensus rating of “Hold” and an average target price of C$0.93.

Slate Office REIT Stock Up 4.5 %

SOT.UN stock traded up C$0.03 during mid-day trading on Monday, reaching C$0.70. The company had a trading volume of 22,912 shares, compared to its average volume of 61,548. The company has a market capitalization of C$56.04 million, a price-to-earnings ratio of -0.50 and a beta of 0.94. Slate Office REIT has a 52 week low of C$0.64 and a 52 week high of C$2.13. The stock has a 50 day simple moving average of C$0.74 and a two-hundred day simple moving average of C$0.83. The company has a debt-to-equity ratio of 229.55, a current ratio of 0.56 and a quick ratio of 0.14.

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.