Slate Office REIT (TSE:SOT.UN) Rating Lowered to Underperform at CIBC

CIBC cut shares of Slate Office REIT (TSE:SOT.UN) from a neutral rating to an underperform rating in a research note published on Wednesday morning, BayStreet.CA reports.

A number of other research analysts have also recently weighed in on the company. Cormark lowered their price objective on Slate Office REIT from C$0.80 to C$0.65 in a research report on Tuesday, May 7th. TD Securities lowered their price target on Slate Office REIT from C$0.80 to C$0.75 in a report on Wednesday, April 24th. Five equities 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, Slate Office REIT currently has an average rating of Reduce and a consensus target price of C$0.64.

Slate Office REIT Stock Down 34.3 %

SOT.UN stock opened at C$0.23 on Wednesday. Slate Office REIT has a twelve month low of C$0.22 and a twelve month high of C$2.02. The company has a quick ratio of 0.14, a current ratio of 0.51 and a debt-to-equity ratio of 234.35. The stock has a market cap of C$18.41 million, a P/E ratio of -0.14 and a beta of 0.93. The business’s 50-day moving average price is C$0.58 and its 200-day moving average price is C$0.72.

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.