Slate Office REIT (TSE:SOT.UN) Sets New 12-Month Low After Analyst Downgrade

Slate Office REIT (TSE:SOT.UN) shares hit a new 52-week low during mid-day trading on Wednesday after TD Securities lowered their price target on the stock from C$0.80 to C$0.75. The stock traded as low as C$0.64 and last traded at C$0.67, with a volume of 58753 shares changing hands. The stock had previously closed at C$0.71.

Separately, Cormark upgraded Slate Office REIT from a “reduce” rating to a “market perform” rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$1.22.

Slate Office REIT Stock Down 5.6 %

The company has a debt-to-equity ratio of 229.55, a current ratio of 0.56 and a quick ratio of 0.14. The company has a market capitalization of C$53.63 million, a price-to-earnings ratio of -0.48 and a beta of 0.94. The firm has a 50-day moving average price of C$0.77 and a two-hundred day moving average price of C$0.87.

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.