Slate Office REIT (TSE:SOT.UN) Price Target Cut to C$0.75 by Analysts at TD Securities

Slate Office REIT (TSE:SOT.UN) had its price target cut by equities researchers at TD Securities from C$0.80 to C$0.75 in a note issued to investors on Wednesday, BayStreet.CA reports. TD Securities’ price target suggests a potential upside of 11.94% from the company’s previous close.

Separately, Cormark upgraded shares of Slate Office REIT from a “reduce” rating to a “market perform” rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$1.22.

Slate Office REIT Trading Down 5.6 %

Slate Office REIT stock traded down C$0.04 during mid-day trading on Wednesday, reaching C$0.67. 58,753 shares of the company traded hands, compared to its average volume of 65,674. Slate Office REIT has a 52-week low of C$0.64 and a 52-week high of C$2.21. The firm has a market capitalization of C$53.63 million, a price-to-earnings ratio of -0.48 and a beta of 0.94. 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 firm’s 50 day moving average price is C$0.77 and its 200 day moving average price is C$0.87.

Slate Office REIT Company Profile

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.