Slate Office REIT (TSE:SOT.UN) Hits New 52-Week Low on Analyst Downgrade

Slate Office REIT (TSE:SOT.UN) hit a new 52-week low during mid-day trading on Wednesday after TD Securities lowered their price target on the stock from C$0.80 to C$0.75. The company traded as low as C$0.64 and last traded at C$0.67, with a volume of 58753 shares traded. The stock had previously closed at C$0.71.

Separately, Cormark raised shares of Slate Office REIT from a “reduce” rating to a “market perform” rating in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, Slate Office REIT presently has a consensus rating of “Hold” and a consensus price target of C$1.22.

Slate Office REIT Price Performance

The stock’s 50 day simple moving average is C$0.76 and its 200-day simple moving average is C$0.86. The firm has a market cap of C$54.43 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 quick ratio of 0.14 and a current ratio of 0.56.

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.