Slate Office REIT (TSE:SOT.UN) Downgraded to “Sell” at TD Securities

TD Securities cut shares of Slate Office REIT (TSE:SOT.UN) from a hold rating to a sell rating in a report released on Wednesday morning, BayStreet.CA reports. They currently have C$0.25 target price on the stock, down from their prior target price of C$0.75.

Other equities analysts have also recently issued research reports about the company. CIBC cut Slate Office REIT from a neutral rating to an underperform rating in a report on Wednesday. BMO Capital Markets cut Slate Office REIT from a sector perform rating to an underperform rating and lowered their price target for the stock from C$0.70 to C$0.30 in a report on Wednesday. Cormark lowered their target price on Slate Office REIT from C$0.80 to C$0.65 in a report on Tuesday, May 7th. Finally, Royal Bank of Canada cut Slate Office REIT from a sector perform rating to an underperform rating and lowered their target price for the stock from C$0.70 to C$0.30 in a report on Wednesday. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Reduce and a consensus target price of C$0.64.

Slate Office REIT Price Performance

Shares of TSE SOT.UN opened at C$0.23 on Wednesday. The stock has a market capitalization of C$18.41 million, a PE ratio of -0.14 and a beta of 0.93. The company has a debt-to-equity ratio of 234.35, a current ratio of 0.51 and a quick ratio of 0.14. The business has a fifty day moving average price of C$0.58 and a two-hundred day moving average price of C$0.72. Slate Office REIT has a fifty-two week low of C$0.22 and a fifty-two week high of C$2.02.

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.