Shares of Slate Office REIT (TSE:SOT.UN – Get Free Report) were up 16.3% during trading on Tuesday . The company traded as high as C$0.29 and last traded at C$0.25. Approximately 149,840 shares traded hands during mid-day trading, an increase of 123% from the average daily volume of 67,274 shares. The stock had previously closed at C$0.22.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on SOT.UN shares. TD Securities lowered shares of Slate Office REIT from a “hold” rating to a “sell” rating and reduced their price target for the stock from C$0.75 to C$0.25 in a research note on Wednesday, June 26th. Cormark lowered their price target on shares of Slate Office REIT from C$0.80 to C$0.65 in a report on Tuesday, May 7th. CIBC downgraded shares of Slate Office REIT from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 26th. Royal Bank of Canada downgraded shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from C$0.70 to C$0.30 in a report on Wednesday, June 26th. Finally, BMO Capital Markets downgraded shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from C$0.70 to C$0.30 in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of C$0.64.
View Our Latest Analysis on Slate Office REIT
Slate Office REIT Price Performance
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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