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

Slate Office REIT (TSE:SOT.UN) has received a consensus rating of “Strong Sell” from the six brokerages 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 target price among analysts that have issued a report on the stock in the last year is C$0.54.

SOT.UN has been the topic of several research reports. Royal Bank of Canada cut shares of 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. TD Securities downgraded shares of Slate Office REIT from a “hold” rating to a “sell” rating and lowered their price target for the company from C$0.75 to C$0.25 in a report on Wednesday, June 26th. BMO Capital Markets cut Slate Office REIT from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from C$0.70 to C$0.30 in a research note on Wednesday, June 26th. CIBC lowered Slate Office REIT from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 26th. Finally, Cormark decreased their price target on Slate Office REIT from C$0.80 to C$0.65 in a report on Tuesday, May 7th.

Slate Office REIT Price Performance

Shares of TSE:SOT.UN opened at C$0.37 on Monday. 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 market cap of C$29.62 million, a price-to-earnings ratio of -0.23 and a beta of 1.30. The firm has a fifty day moving average price of C$0.37 and a 200 day moving average price of C$0.61. Slate Office REIT has a fifty-two week low of C$0.21 and a fifty-two week high of C$1.72.

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.