Brokerages Set Slate Office REIT (TSE:SOT.UN) PT at C$1.44

Slate Office REIT (TSE:SOT.UNGet Free Report) has earned a consensus rating of “Reduce” from the six analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$1.44.

A number of research firms recently weighed in on SOT.UN. Raymond James reduced their price objective on shares of Slate Office REIT from C$1.50 to C$1.10 in a research report on Wednesday, October 25th. CIBC reduced their price objective on shares of Slate Office REIT from C$1.50 to C$1.00 and set a “neutral” rating on the stock in a research report on Thursday. Royal Bank of Canada dropped their target price on shares of Slate Office REIT from C$2.75 to C$1.75 and set a “sector perform” rating on the stock in a research note on Thursday, August 3rd. TD Securities dropped their target price on shares of 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. Finally, Cormark downgraded shares of Slate Office REIT from a “market perform” rating to a “reduce” rating and dropped their price objective for the company from C$2.20 to C$1.20 in a research note on Monday, August 21st.

View Our Latest Report on SOT.UN

Insider Buying and Selling

In other news, insider Slate Asset Management LP purchased 20,000 shares of the stock in a transaction on Thursday, August 24th. The stock was bought at an average price of C$1.59 per share, for a total transaction of C$31,700.00. Insiders have acquired a total of 27,300 shares of company stock valued at $42,307 in the last ninety days. Company insiders own 18.36% of the company’s stock.

Slate Office REIT Stock Down 3.1 %

Shares of SOT.UN stock opened at C$0.94 on Thursday. The stock has a market cap of C$75.22 million, a P/E ratio of -0.80 and a beta of 1.17. Slate Office REIT has a 52 week low of C$0.77 and a 52 week high of C$4.67. The company has a quick ratio of 0.14, a current ratio of 0.13 and a debt-to-equity ratio of 194.26. The company’s fifty day simple moving average is C$1.26 and its two-hundred day simple moving average is C$1.65.

About Slate Office REIT

(Get Free Report

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.

Featured Stories

Analyst Recommendations for Slate Office REIT (TSE:SOT.UN)

Receive News & Ratings for Slate Office REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Slate Office REIT and related companies with MarketBeat.com's FREE daily email newsletter.