Slate Office REIT (TSE:SOT.UN) PT Set at C$4.75 by Royal Bank of Canada

Royal Bank of Canada set a C$4.75 price target on Slate Office REIT (TSE:SOT.UNGet Rating) in a research note released on Wednesday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other research firms have also recently commented on SOT.UN. Cormark reduced their target price on Slate Office REIT from C$5.45 to C$5.35 in a research report on Friday, August 5th. TD Securities set a C$4.75 target price on Slate Office REIT and gave the stock a neutral rating in a research report on Thursday, October 27th. National Bankshares dropped their price target on Slate Office REIT from C$4.40 to C$4.25 and set a sector perform rating for the company in a research note on Thursday, November 3rd. BMO Capital Markets dropped their price target on Slate Office REIT from C$4.50 to C$4.25 in a research note on Thursday, November 10th. Finally, Raymond James dropped their price target on Slate Office REIT from C$5.00 to C$4.50 and set a market perform rating for the company in a research note on Thursday, November 3rd. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Slate Office REIT has a consensus rating of Hold and an average price target of C$4.76.

Slate Office REIT Price Performance

Slate Office REIT stock opened at C$4.55 on Wednesday. Slate Office REIT has a 52 week low of C$4.21 and a 52 week high of C$5.30. The business has a 50-day simple moving average of C$4.49 and a 200 day simple moving average of C$4.60. The company has a quick ratio of 0.14, a current ratio of 0.15 and a debt-to-equity ratio of 157.97. The stock has a market cap of C$364.79 million and a price-to-earnings ratio of 4.21.

Slate Office REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 15th were paid a $0.0333 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.78%. The ex-dividend date was Friday, October 28th. Slate Office REIT’s dividend payout ratio (DPR) is presently 37.00%.

Insider Activity

In other news, insider Sime Armoyan sold 108,300 shares of the business’s stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of C$4.50, for a total value of C$487,512.45. Following the completion of the sale, the insider now owns 12,703,400 shares of the company’s stock, valued at approximately C$57,184,355.10. In the last quarter, insiders purchased 47,100 shares of company stock valued at $203,575.

Slate Office REIT Company Profile

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

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