Slate Office REIT (TSE:SOT.UN) Price Target Lowered to C$0.75 at CIBC

Slate Office REIT (TSE:SOT.UN) had its target price cut by equities research analysts at CIBC from C$1.00 to C$0.75 in a research report issued on Monday, BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price target indicates a potential upside of 7.14% from the company’s previous close.

SOT.UN has been the topic of a number of other research reports. TD Securities dropped their price target on Slate Office REIT from C$0.80 to C$0.75 in a research report on Wednesday, April 24th. Cormark raised Slate Office REIT from a “reduce” rating to a “market perform” rating in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$0.93.

Slate Office REIT Stock Up 4.5 %

Shares of SOT.UN traded up C$0.03 during midday trading on Monday, reaching C$0.70. 22,912 shares of the stock were exchanged, compared to its average volume of 61,548. Slate Office REIT has a 52 week low of C$0.64 and a 52 week high of C$2.13. The company has a current ratio of 0.56, a quick ratio of 0.14 and a debt-to-equity ratio of 229.55. The company’s 50 day moving average is C$0.74 and its two-hundred day moving average is C$0.83. The company has a market capitalization of C$56.04 million, a P/E ratio of -0.50 and a beta of 0.94.

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.