Slate Office REIT (TSE:SOT.UN) Lowered to “Underperform” at BMO Capital Markets

BMO Capital Markets cut shares of Slate Office REIT (TSE:SOT.UN) from a sector perform rating to an underperform rating in a research report released on Wednesday morning, BayStreet.CA reports. They currently have C$0.30 target price on the stock, down from their prior target price of C$0.70.

Several other equities research analysts have also commented on the stock. TD Securities lowered their price target on shares of Slate Office REIT from C$0.80 to C$0.75 in a report on Wednesday, April 24th. Royal Bank of Canada lowered shares of Slate Office REIT from a sector perform rating to an underperform rating and lowered their price target for the company from C$0.70 to C$0.30 in a report on Wednesday. Cormark lowered their price target on shares of Slate Office REIT from C$0.80 to C$0.65 in a report on Tuesday, May 7th. Finally, CIBC lowered shares of Slate Office REIT from a neutral rating to an underperform rating in a report on Wednesday. Five investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Reduce and an average price target of C$0.64.

Slate Office REIT Price Performance

TSE:SOT.UN opened at C$0.23 on Wednesday. Slate Office REIT has a one year low of C$0.22 and a one year high of C$2.02. The company has a debt-to-equity ratio of 234.35, a quick ratio of 0.14 and a current ratio of 0.51. The firm has a market cap of C$18.41 million, a price-to-earnings ratio of -0.14 and a beta of 0.93. The firm’s fifty day moving average is C$0.58 and its two-hundred day moving average is C$0.72.

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.