Slate Office REIT (TSE:SOT.UN) Stock Price Crosses Below 200 Day Moving Average of $0.65

Shares of Slate Office REIT (TSE:SOT.UN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.65 and traded as low as C$0.32. Slate Office REIT shares last traded at C$0.34, with a volume of 29,750 shares changing hands.

Wall Street Analyst Weigh In

SOT.UN has been the subject of several research reports. TD Securities lowered Slate Office REIT from a “hold” rating to a “sell” rating and reduced their price objective for the company from C$0.75 to C$0.25 in a report on Wednesday, June 26th. CIBC lowered Slate Office REIT from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 26th. Royal Bank of Canada lowered Slate Office REIT from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company from C$0.70 to C$0.30 in a report on Wednesday, June 26th. Cormark reduced their price objective on Slate Office REIT from C$0.80 to C$0.65 in a report on Tuesday, May 7th. Finally, BMO Capital Markets lowered Slate Office REIT from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of C$0.64.

Slate Office REIT Stock Up 3.0 %

The stock has a 50-day moving average of C$0.42 and a 200-day moving average of C$0.65. The company has a quick ratio of 0.14, a current ratio of 0.51 and a debt-to-equity ratio of 234.35. The company has a market cap of C$27.22 million, a PE ratio of -0.21 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.