Slate Office REIT (TSE:SOT.UN) Sets New 12-Month Low After Analyst Downgrade

Shares of Slate Office REIT (TSE:SOT.UN) reached a new 52-week low during mid-day trading on Wednesday after TD Securities lowered their price target on the stock from C$0.80 to C$0.75. The company traded as low as C$0.64 and last traded at C$0.67, with a volume of 58753 shares traded. 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 report on Friday, March 8th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$1.22.

Slate Office REIT Price Performance

The business’s 50 day moving average price is C$0.77 and its two-hundred day moving average price is C$0.87. The stock has a market cap of C$53.63 million, a P/E ratio of -0.48 and a beta of 0.94. The company has a current ratio of 0.56, a quick ratio of 0.14 and a debt-to-equity ratio of 229.55.

About Slate Office REIT

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.