Slate Office REIT (TSE:SOT.UN – Get Free Report) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$1.76 and traded as low as C$1.58. Slate Office REIT shares last traded at C$1.58, with a volume of 119,501 shares.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. TD Securities cut their target price on Slate Office REIT from C$2.25 to C$1.90 and set a “hold” rating for the company in a research note on Thursday, August 3rd. Royal Bank of Canada lowered their price target on shares of Slate Office REIT from C$2.75 to C$1.75 and set a “sector perform” rating for the company in a report on Thursday, August 3rd. National Bankshares downgraded shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their price target for the stock from C$1.90 to C$1.25 in a report on Friday, August 4th. Raymond James lowered their price target on shares of Slate Office REIT from C$11.25 to C$11.00 and set a “market perform” rating for the company in a report on Tuesday, August 8th. Finally, Cormark downgraded shares of Slate Office REIT from a “market perform” rating to a “reduce” rating and lowered their price target for the stock from C$2.20 to C$1.20 in a report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$3.33.
Slate Office REIT Stock Down 4.2 %
Insider Buying and Selling at Slate Office REIT
In related news, insider Slate Asset Management LP acquired 20,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were bought at an average price of C$1.59 per share, with a total value of C$31,700.00. 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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