Slate Office REIT (TSE:SOT.UN) Downgraded to “Underperform” at BMO Capital Markets

BMO Capital Markets cut shares of Slate Office REIT (TSE:SOT.UN) from a sector perform rating to an underperform rating in a research report report published on Wednesday morning, BayStreet.CA reports. They currently have C$0.30 target price on the stock, down from their previous target price of C$0.70.

SOT.UN has been the subject of several other research reports. TD Securities decreased their price target on shares of Slate Office REIT from C$0.80 to C$0.75 in a report on Wednesday, April 24th. CIBC lowered shares of Slate Office REIT from a neutral rating to an underperform rating in a report on Wednesday. Cormark decreased their price target on shares of Slate Office REIT from C$0.80 to C$0.65 in a report on Tuesday, May 7th. Finally, Royal Bank of Canada lowered shares of Slate Office REIT from a sector perform rating to an underperform rating and decreased their price target for the company from C$0.70 to C$0.30 in a report on Wednesday. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Slate Office REIT has an average rating of Reduce and an average price target of C$0.64.

Slate Office REIT Price Performance

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

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.