Slate Office REIT (TSE:SOT.UN) Stock Price Up 16.3%

Shares of Slate Office REIT (TSE:SOT.UN) were up 16.3% on Tuesday . The company traded as high as C$0.29 and last traded at C$0.25. Approximately 149,840 shares changed hands during trading, an increase of 123% from the average daily volume of 67,274 shares. The stock had previously closed at C$0.22.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SOT.UN shares. Cormark reduced their price objective on shares of Slate Office REIT from C$0.80 to C$0.65 in a research note on Tuesday, May 7th. Royal Bank of Canada lowered Slate Office REIT from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from C$0.70 to C$0.30 in a research report on Wednesday, June 26th. BMO Capital Markets lowered Slate Office REIT from a “sector perform” rating to an “underperform” rating and cut their target price for the company from C$0.70 to C$0.30 in a research note on Wednesday, June 26th. TD Securities downgraded shares of Slate Office REIT from a “hold” rating to a “sell” rating and cut their price target for the company from C$0.75 to C$0.25 in a research report on Wednesday, June 26th. Finally, CIBC cut shares of Slate Office REIT from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, Slate Office REIT has a consensus rating of “Reduce” and a consensus target price of C$0.64.

Slate Office REIT Stock Performance

The stock has a market capitalization of C$33.62 million, a price-to-earnings ratio of -0.26 and a beta of 0.93. The company’s fifty day simple moving average is C$0.54 and its 200 day simple moving average is C$0.70. The company has a quick ratio of 0.14, a current ratio of 0.51 and a debt-to-equity ratio of 234.35.

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.