Slate Office REIT (TSE:SOT.UN) Hits New 1-Year Low Following Analyst Downgrade

Shares of Slate Office REIT (TSE:SOT.UN) reached a new 52-week low during trading on Wednesday after TD Securities lowered their price target on the stock from C$0.80 to C$0.75. The stock traded as low as C$0.64 and last traded at C$0.67, with a volume of 58753 shares changing hands. The stock had previously closed at C$0.71.

Separately, Cormark raised shares of Slate Office REIT from a “reduce” rating to a “market perform” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$1.22.

Slate Office REIT Price Performance

The business’s 50 day moving average price is C$0.76 and its 200 day moving average price is C$0.86. The stock has a market capitalization of C$54.43 million, a P/E ratio of -0.48 and a beta of 0.94. The company has a debt-to-equity ratio of 229.55, a current ratio of 0.56 and a quick ratio of 0.14.

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.