Slate Office REIT (TSE:SOT.UN) Rating Lowered to Underperform at BMO Capital Markets

Slate Office REIT (TSE:SOT.UN) was downgraded by stock analysts at BMO Capital Markets from a “sector perform” rating to an “underperform” rating in a report issued on Wednesday, BayStreet.CA reports. They presently have a C$0.30 price target on the stock, down from their prior price target of C$0.70. BMO Capital Markets’ target price would indicate a potential upside of 33.33% from the stock’s current price.

Several other brokerages have also recently commented on SOT.UN. TD Securities decreased their price target on shares of Slate Office REIT from C$0.80 to C$0.75 in a research report on Wednesday, April 24th. CIBC cut shares of Slate Office REIT from a “neutral” rating to an “underperform” rating in a research report on Wednesday. Cormark decreased their price target on shares of Slate Office REIT from C$0.80 to C$0.65 in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada cut shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from C$0.70 to C$0.30 in a research report on Wednesday. Five analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of C$0.64.

Slate Office REIT Stock Down 2.2 %

Slate Office REIT stock opened at C$0.23 on Wednesday. Slate Office REIT has a fifty-two week low of C$0.21 and a fifty-two week high of C$2.02. The company has a debt-to-equity ratio of 234.35, a quick ratio of 0.14 and a current ratio of 0.51. The firm has a 50 day moving average price of C$0.57 and a 200 day moving average price of C$0.71. The company has a market capitalization of C$18.01 million, a PE ratio of -0.14 and a beta of 0.93.

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.