Slate Office REIT (TSE:SOT.UN – Get Free Report) had its price objective lowered by research analysts at Royal Bank of Canada from C$1.75 to C$1.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 6.38% from the company’s previous close.
Other research analysts also recently issued research reports about the company. CIBC reduced their price objective on Slate Office REIT from C$1.50 to C$1.00 and set a “neutral” rating on the stock in a report on Thursday. TD Securities cut their price target on Slate Office REIT from C$1.40 to C$1.00 and set a “hold” rating on the stock in a research note on Thursday. National Bankshares downgraded Slate Office REIT from a “sector perform” rating to an “underperform” rating and cut their price target for the company from C$1.90 to C$1.25 in a research note on Friday, August 4th. Cormark downgraded Slate Office REIT from a “market perform” rating to a “reduce” rating and cut their price target for the company from C$2.20 to C$1.20 in a research note on Monday, August 21st. Finally, Raymond James cut their price target on Slate Office REIT from C$1.50 to C$1.10 in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, Slate Office REIT has a consensus rating of “Hold” and an average price target of C$1.26.
Slate Office REIT Price Performance
Insider Activity at Slate Office REIT
In other news, insider Slate Asset Management LP acquired 20,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of C$1.59 per share, for a total transaction of C$31,700.00. Insiders bought a total of 27,300 shares of company stock worth $42,307 in the last quarter. Corporate insiders own 18.36% of the company’s stock.
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.
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