Slate Office REIT (TSE:SOT.UN) PT Lowered to C$5.25 at Raymond James

Slate Office REIT (TSE:SOT.UNGet Rating) had its price objective decreased by analysts at Raymond James from C$5.50 to C$5.25 in a report issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James’ target price would indicate a potential upside of 5.00% from the stock’s current price.

Several other equities analysts have also commented on the stock. Canaccord Genuity Group decreased their target price on shares of Slate Office REIT from C$6.00 to C$5.25 in a report on Friday. CIBC decreased their price target on shares of Slate Office REIT from C$5.75 to C$5.25 and set a “neutral” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$5.38.

SOT.UN stock traded up C$0.03 during mid-day trading on Tuesday, hitting C$5.00. The stock had a trading volume of 157,664 shares, compared to its average volume of 235,228. The company has a current ratio of 0.65, a quick ratio of 0.09 and a debt-to-equity ratio of 174.09. Slate Office REIT has a 52 week low of C$4.53 and a 52 week high of C$5.48. The firm has a market capitalization of C$400.87 million and a P/E ratio of 7.85. The firm has a fifty day simple moving average of C$5.08 and a 200 day simple moving average of C$5.05.

In other Slate Office REIT news, insider Sime Armoyan bought 200,700 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were acquired at an average cost of C$4.80 per share, for a total transaction of C$962,356.50. Following the transaction, the insider now directly owns 8,297,600 shares in the company, valued at C$39,786,992.

Slate Office REIT Company Profile (Get Rating)

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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