Slate Office REIT (TSE:SOT.UN) was downgraded by investment analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They presently have a C$7.75 price target on the stock, down from their previous price target of C$8.50. Canaccord Genuity’s price objective would suggest a potential upside of 1.57% from the company’s previous close.
A number of other research firms have also weighed in on SOT.UN. CIBC raised their target price on shares of Slate Office REIT from C$8.00 to C$8.25 in a report on Wednesday, August 8th. TD Securities dropped their price objective on shares of Slate Office REIT from C$9.00 to C$8.50 and set a “buy” rating for the company in a research note on Wednesday, August 8th. Finally, National Bank Financial lifted their price objective on shares of Slate Office REIT from C$7.75 to C$8.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 8th. Five analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus price target of C$8.00.
Shares of SOT.UN stock traded down C$0.13 on Wednesday, reaching C$7.63. The company’s stock had a trading volume of 263,617 shares, compared to its average volume of 219,817. Slate Office REIT has a 1 year low of C$7.48 and a 1 year high of C$8.42.
Slate Office REIT, formerly FAM Real Estate Investment Trust, is a Canada-based open-ended investment trust. The Trust focuses on acquiring, owning and leasing a portfolio of diversified revenue-producing commercial real estate properties in Canada with an emphasis on office properties. The Trust has a portfolio that spans approximately four million square feet (sq.ft.) of gross leasable area (GLA) and consists of over 30 properties located across Canada.
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