Slate Office REIT (TSE:SOT.UN) Price Target Cut to C$0.75 by Analysts at CIBC

Slate Office REIT (TSE:SOT.UN) had its price objective dropped by equities research analysts at CIBC from C$1.00 to C$0.75 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price target points to a potential upside of 11.94% from the company’s current price.

A number of other research analysts have also issued reports on the company. TD Securities reduced their price objective on Slate Office REIT from C$0.80 to C$0.75 in a research report on Wednesday, April 24th. Cormark upgraded shares of Slate Office REIT from a “reduce” rating to a “market perform” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$0.90.

Slate Office REIT Stock Performance

Shares of TSE SOT.UN opened at C$0.67 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.56 and a debt-to-equity ratio of 229.55. The firm’s 50-day moving average price is C$0.73 and its two-hundred day moving average price is C$0.82. 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 market capitalization of C$53.63 million, a P/E ratio of -0.48 and a beta of 0.94.

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.