Slate Office REIT (TSE:SOT.UN) Rating Lowered to Underperform at CIBC

Slate Office REIT (TSE:SOT.UN) was downgraded by CIBC from a “neutral” rating to an “underperform” rating in a report released on Wednesday, BayStreet.CA reports.

A number of other equities analysts also recently issued reports on SOT.UN. Cormark cut their price target on Slate Office REIT from C$0.80 to C$0.65 in a research note on Tuesday, May 7th. TD Securities lowered their price target on shares of Slate Office REIT from C$0.80 to C$0.75 in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, Slate Office REIT currently has a consensus rating of “Reduce” and a consensus price target of C$0.64.

Slate Office REIT Stock Down 34.3 %

SOT.UN traded down C$0.12 on Wednesday, hitting C$0.23. 406,488 shares of the company were exchanged, compared to its average volume of 63,077. Slate Office REIT has a 12 month low of C$0.22 and a 12 month high of C$2.02. The company has a market cap of C$18.41 million, a PE ratio of -0.13 and a beta of 0.93. The company has a debt-to-equity ratio of 234.35, a quick ratio of 0.14 and a current ratio of 0.51. The stock’s fifty day moving average is C$0.59 and its 200-day moving average is C$0.72.

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.