National Bankshares Trims Slate Office REIT (TSE:SOT.UN) Target Price to C$2.75

Posted by Defense World Staff on Apr 9th, 2023

Slate Office REIT (TSE:SOT.UN – Get Rating) had its price target reduced by National Bankshares from C$4.25 to C$2.75 in a research note released on Thursday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

SOT.UN has been the subject of several other research reports. Cormark reduced their target price on shares of Slate Office REIT from C$4.60 to C$3.40 in a research note on Wednesday. TD Securities reduced their price objective on shares of Slate Office REIT from C$4.50 to C$3.75 and set a hold rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of C$4.05.

Slate Office REIT Stock Down 4.0 %

SOT.UN stock opened at C$2.42 on Thursday. The company’s 50 day moving average is C$4.01 and its two-hundred day moving average is C$4.31. Slate Office REIT has a twelve month low of C$2.17 and a twelve month high of C$5.22. The company has a current ratio of 0.09, a quick ratio of 0.14 and a debt-to-equity ratio of 182.52. The stock has a market cap of C$193.65 million, a P/E ratio of -11.52 and a beta of 1.12.

Slate Office REIT Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, May 15th. Investors of record on Monday, May 15th will be paid a $0.01 dividend. This represents a $0.12 annualized dividend and a yield of 4.96%. The ex-dividend date is Thursday, April 27th. Slate Office REIT’s payout ratio is -190.48%.

Slate Office REIT Company Profile

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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.