Slate Office REIT (TSE:SOT.UN) Trading 16.3% Higher

Slate Office REIT (TSE:SOT.UN)’s share price was 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 were traded during trading, an increase of 123% from the average daily volume of 67,274 shares. The stock had previously closed at C$0.22.

Analyst Upgrades and Downgrades

Several analysts recently commented on SOT.UN shares. Cormark lowered their target price on Slate Office REIT from C$0.80 to C$0.65 in a research report on Tuesday, May 7th. Royal Bank of Canada cut Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from C$0.70 to C$0.30 in a research report on Wednesday, June 26th. CIBC cut Slate Office REIT from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 26th. TD Securities cut Slate Office REIT from a “hold” rating to a “sell” rating and lowered their target price for the company from C$0.75 to C$0.25 in a research report on Wednesday, June 26th. Finally, BMO Capital Markets lowered 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 note on Wednesday, June 26th. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of C$0.64.

Slate Office REIT Trading Up 18.6 %

The business has a 50-day moving average of C$0.55 and a 200-day moving average of C$0.70. The stock has a market cap of C$20.41 million, a price-to-earnings ratio of -0.13 and a beta of 0.93. The company has a quick ratio of 0.14, a current ratio of 0.51 and a debt-to-equity ratio of 234.35.

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.