Slate Office REIT (TSE:SOT.UN) Price Target Cut to C$4.00

Slate Office REIT (TSE:SOT.UN) had its price target lowered by equities researchers at National Bank Financial from C$4.25 to C$4.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. National Bank Financial’s target price indicates a potential upside of 6.10% from the stock’s previous close.

A number of other brokerages have also recently issued reports on SOT.UN. CIBC reduced their target price on shares of Slate Office REIT from C$6.00 to C$5.25 in a research report on Sunday, May 17th. BMO Capital Markets reduced their target price on shares of Slate Office REIT from C$5.00 to C$4.00 in a research report on Monday, May 18th. TD Securities raised shares of Slate Office REIT from a “hold” rating to a “buy” rating and reduced their target price for the company from C$6.00 to C$5.00 in a research report on Wednesday, April 1st. Finally, Canaccord Genuity boosted their target price on shares of Slate Office REIT from C$4.00 to C$4.50 in a research report on Monday, May 18th.

SOT.UN stock opened at C$3.77 on Thursday. The company has a debt-to-equity ratio of 172.01, a current ratio of 0.06 and a quick ratio of 0.04. The company has a fifty day moving average price of C$3.75 and a two-hundred day moving average price of C$4.68. Slate Office REIT has a one year low of C$2.50 and a one year high of C$6.40. The stock has a market cap of $250.05 million and a price-to-earnings ratio of 6.17.

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.

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