Slate Office REIT (TSE:SOT.UN) Stock Price Passes Above 50-Day Moving Average of $0.34

Slate Office REIT (TSE:SOT.UN) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$0.34 and traded as high as C$0.37. Slate Office REIT shares last traded at C$0.36, with a volume of 55,981 shares.

Analysts Set New Price Targets

Several brokerages recently commented on SOT.UN. Royal Bank of Canada lowered shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from C$0.70 to C$0.30 in a report on Wednesday, June 26th. BMO Capital Markets downgraded shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from C$0.70 to C$0.30 in a research report on Wednesday, June 26th. Cormark decreased their price target on shares of Slate Office REIT from C$0.80 to C$0.65 in a research note on Tuesday, May 7th. TD Securities lowered Slate Office REIT from a “hold” rating to a “sell” rating and cut their price objective for the stock from C$0.75 to C$0.25 in a research note on Wednesday, June 26th. Finally, CIBC downgraded Slate Office REIT from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 26th. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, Slate Office REIT has a consensus rating of “Reduce” and an average price target of C$0.54.

Slate Office REIT Trading Up 4.3 %

The business has a fifty day moving average price of C$0.34 and a two-hundred day moving average price of C$0.58. The company has a current ratio of 0.47, a quick ratio of 0.14 and a debt-to-equity ratio of 329.26. The firm has a market capitalization of C$28.94 million, a PE ratio of -0.11 and a beta of 1.30.

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.