Slate Office REIT (TSE:SOT.UN) Given New C$0.65 Price Target at Cormark

Slate Office REIT (TSE:SOT.UN) had its target price lowered by analysts at Cormark from C$0.80 to C$0.65 in a research note issued to investors on Tuesday, BayStreet.CA reports. Cormark’s target price points to a potential downside of 2.99% from the company’s current price.

Several other research analysts have also commented on SOT.UN. TD Securities cut their price target on Slate Office REIT from C$0.80 to C$0.75 in a research report on Wednesday, April 24th. CIBC cut their price target on Slate Office REIT from C$1.00 to C$0.75 and set a “neutral” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$0.90.

Slate Office REIT Stock Up 1.5 %

Shares of TSE SOT.UN traded up C$0.01 during midday trading on Tuesday, hitting C$0.67. 23,738 shares of the company’s stock were exchanged, compared to its average volume of 61,208. The company has a market cap of C$53.63 million, a PE ratio of -0.48 and a beta of 0.94. Slate Office REIT has a twelve month low of C$0.64 and a twelve month high of C$2.13. The firm’s fifty day simple moving average is C$0.73 and its 200-day simple moving average is C$0.82. The company has a debt-to-equity ratio of 229.55, a current ratio of 0.56 and a quick ratio of 0.14.

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.