Slate Office REIT (TSE:SOT.UN – Get Free Report) was downgraded by equities researchers at BMO Capital Markets from a “sector perform” rating to an “underperform” rating in a research note issued on Wednesday, BayStreet.CA reports. They currently have a C$0.30 price target on the stock, down from their previous price target of C$0.70. BMO Capital Markets’ price target suggests a potential upside of 30.43% from the company’s previous close.
SOT.UN has been the subject of a number of other research reports. Royal Bank of Canada downgraded Slate Office REIT from a “sector perform” rating to an “underperform” rating and decreased their target price for the company from C$0.70 to C$0.30 in a report on Wednesday. CIBC cut Slate Office REIT from a “neutral” rating to an “underperform” rating in a research note on Wednesday. TD Securities cut their target price on Slate Office REIT from C$0.80 to C$0.75 in a research note on Wednesday, April 24th. Finally, Cormark dropped their price objective on Slate Office REIT from C$0.80 to C$0.65 in a research 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 company. According to MarketBeat.com, Slate Office REIT currently has an average rating of “Reduce” and an average target price of C$0.64.
Read Our Latest Stock Report on SOT.UN
Slate Office REIT Trading Down 34.3 %
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.
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