Slate Office REIT (TSE:SOT.UN) Stock Rating Lowered by TD Securities

TD Securities lowered shares of Slate Office REIT (TSE:SOT.UN) from a hold rating to a sell rating in a report published on Wednesday morning, BayStreet.CA reports. The brokerage currently has C$0.25 target price on the stock, down from their previous target price of C$0.75.

Several other equities analysts have also recently commented on the company. Royal Bank of Canada cut Slate Office REIT from a sector perform rating to an underperform rating and cut their price target for the company from C$0.70 to C$0.30 in a report on Wednesday. Cormark dropped their target price on Slate Office REIT from C$0.80 to C$0.65 in a report on Tuesday, May 7th. BMO Capital Markets cut Slate Office REIT from a sector perform rating to an underperform rating and dropped their target price for the stock from C$0.70 to C$0.30 in a report on Wednesday. Finally, CIBC cut Slate Office REIT from a neutral rating to an underperform rating in a report on Wednesday. Five equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Reduce and a consensus target price of C$0.64.

Slate Office REIT Trading Down 4.4 %

Slate Office REIT stock opened at C$0.22 on Wednesday. The business has a 50 day moving average price of C$0.56 and a two-hundred day moving average price of C$0.71. The company has a quick ratio of 0.14, a current ratio of 0.51 and a debt-to-equity ratio of 234.35. The stock has a market cap of C$17.21 million, a price-to-earnings ratio of -0.13 and a beta of 0.93. Slate Office REIT has a 12 month low of C$0.21 and a 12 month high of C$2.02.

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.