Slate Office REIT (TSE:SOT.UN) Hits New 1-Year Low at $0.24

Slate Office REIT (TSE:SOT.UN) reached a new 52-week low during trading on Wednesday . The company traded as low as C$0.24 and last traded at C$0.26, with a volume of 308954 shares changing hands. The stock had previously closed at C$0.35.

Analyst Ratings Changes

SOT.UN has been the topic of a number of recent analyst reports. CIBC cut Slate Office REIT from a “neutral” rating to an “underperform” rating in a report on Wednesday. TD Securities cut shares of Slate Office REIT from a “hold” rating to a “sell” rating and reduced their price target for the stock from C$0.75 to C$0.25 in a research report on Wednesday. Cormark decreased their price objective on Slate Office REIT from C$0.80 to C$0.65 in a research report on Tuesday, May 7th. Royal Bank of Canada downgraded shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their price objective for the stock from C$0.70 to C$0.30 in a research report on Wednesday. Finally, BMO Capital Markets cut shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and cut their price objective for the company from C$0.70 to C$0.30 in a research report on Wednesday. Five analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of C$0.64.

Slate Office REIT Stock Performance

The stock has a 50 day moving average price of C$0.59 and a two-hundred day moving average price of C$0.72. The company has a market cap of C$18.81 million, a P/E ratio of -0.14 and a beta of 0.93. The company has a quick ratio of 0.14, a current ratio of 0.51 and a debt-to-equity ratio of 234.35.

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.