CIBC Trims Slate Office REIT (TSE:SOT.UN) Target Price to C$0.75

Slate Office REIT (TSE:SOT.UN) had its price target reduced by CIBC from C$1.00 to C$0.75 in a research note released on Monday, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on SOT.UN. Cormark upgraded Slate Office REIT from a reduce rating to a market perform rating in a report on Friday, March 8th. TD Securities reduced their price objective on Slate Office REIT from C$0.80 to C$0.75 in a research report on Wednesday, April 24th. One equities research 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, the stock currently has an average rating of Hold and an average target price of C$0.90.

Slate Office REIT Stock Performance

Shares of TSE SOT.UN opened at C$0.68 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.52 and a debt-to-equity ratio of 234.35. The stock has a market capitalization of C$54.43 million, a price-to-earnings ratio of -0.48 and a beta of 0.94. The stock’s fifty day simple moving average is C$0.73 and its 200 day simple moving average is C$0.82. Slate Office REIT has a 52-week low of C$0.64 and a 52-week high of C$2.13.

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.