Slate Office REIT (TSE:SOT.UN) Stock Rating Lowered by TD Securities

TD Securities downgraded shares of Slate Office REIT (TSE:SOT.UN) from a hold rating to a sell rating in a report published on Wednesday, BayStreet.CA reports. They currently have C$0.25 price target on the stock, down from their previous price target of C$0.75.

Several other research analysts have also commented on SOT.UN. CIBC lowered Slate Office REIT from a neutral rating to an underperform rating in a research report on Wednesday. BMO Capital Markets lowered Slate Office REIT from a sector perform rating to an underperform rating and dropped their target price for the company from C$0.70 to C$0.30 in a report on Wednesday. Royal Bank of Canada lowered Slate Office REIT from a sector perform rating to an underperform rating and dropped their target price for the company from C$0.70 to C$0.30 in a report on Wednesday. Finally, Cormark dropped their target price on Slate Office REIT from C$0.80 to C$0.65 in a report on Tuesday, May 7th. Five research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Slate Office REIT presently has a consensus rating of Reduce and a consensus target price of C$0.64.

Slate Office REIT Trading Down 4.4 %

SOT.UN opened at C$0.22 on Wednesday. The firm has a market cap of C$17.21 million, a price-to-earnings ratio of -0.13 and a beta of 0.93. Slate Office REIT has a 52 week low of C$0.21 and a 52 week high of C$2.02. The business’s 50 day moving average is C$0.56 and its two-hundred day moving average is C$0.71. The company has a quick ratio of 0.14, a current ratio of 0.51 and a debt-to-equity ratio of 234.35.

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.