Slate Office REIT (TSE:SOT.UN) Downgraded by CIBC to “Underperform”

CIBC downgraded shares of Slate Office REIT (TSE:SOT.UN) from a neutral rating to an underperform rating in a research note issued to investors on Wednesday, BayStreet.CA reports.

Several other research firms have also recently weighed in on SOT.UN. TD Securities cut their price target on shares of Slate Office REIT from C$0.80 to C$0.75 in a report on Wednesday, April 24th. Cormark cut their target price on Slate Office REIT from C$0.80 to C$0.65 in a research note on Tuesday, May 7th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Reduce and a consensus target price of C$0.64.

Slate Office REIT Trading Down 34.3 %

Shares of Slate Office REIT stock opened at C$0.23 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.14 and a debt-to-equity ratio of 234.35. The stock has a fifty day simple moving average of C$0.58 and a 200 day simple moving average of C$0.72. Slate Office REIT has a 12-month low of C$0.22 and a 12-month high of C$2.02. The company has a market capitalization of C$18.41 million, a P/E ratio of -0.14 and a beta of 0.93.

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.