Slate Office REIT (TSE:SOT.UN) Given Average Rating of “Strong Sell” by Brokerages

Slate Office REIT (TSE:SOT.UN) has earned a consensus recommendation of “Strong Sell” from the six ratings firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$0.54.

Several equities research analysts recently commented on SOT.UN shares. BMO Capital Markets lowered shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from C$0.70 to C$0.30 in a research note on Wednesday, June 26th. TD Securities cut Slate Office REIT from a “hold” rating to a “sell” rating and decreased their target price for the company from C$0.75 to C$0.25 in a research report on Wednesday, June 26th. Royal Bank of Canada lowered Slate Office REIT from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from C$0.70 to C$0.30 in a research report on Wednesday, June 26th. Finally, CIBC downgraded Slate Office REIT from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 26th.

Slate Office REIT Price Performance

SOT.UN stock opened at C$0.40 on Tuesday. The stock has a market cap of C$31.75 million, a price-to-earnings ratio of -0.12 and a beta of 1.29. Slate Office REIT has a fifty-two week low of C$0.21 and a fifty-two week high of C$1.42. The company has a quick ratio of 0.14, a current ratio of 0.47 and a debt-to-equity ratio of 329.26. The business has a 50 day moving average price of C$0.35 and a 200 day moving average price of C$0.50.

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.