Slate Office REIT (TSE:SOT.UN) Sets New 52-Week Low After Analyst Downgrade

Slate Office REIT (TSE:SOT.UN – Get Rating) shares reached a new 52-week low during mid-day trading on Wednesday after CIBC lowered their price target on the stock from C$3.00 to C$2.50. The company traded as low as C$2.01 and last traded at C$2.01, with a volume of 120699 shares changing hands. The stock had previously closed at C$2.03.

A number of other analysts have also recently weighed in on SOT.UN. TD Securities dropped their target price on shares of Slate Office REIT from C$3.75 to C$2.50 and set a “hold” rating on the stock in a report on Wednesday. National Bankshares lowered their price target on shares of Slate Office REIT from C$2.75 to C$2.50 in a research report on Tuesday, April 18th. Royal Bank of Canada lowered their price target on shares of Slate Office REIT from C$4.75 to C$2.75 and set a “sector perform” rating for the company in a research report on Wednesday. Cormark lowered their price target on shares of Slate Office REIT from C$4.60 to C$3.40 in a research report on Wednesday, April 5th. Finally, Raymond James lowered their price target on shares of Slate Office REIT from C$3.25 to C$2.25 and set a “market perform” rating for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Slate Office REIT presently has a consensus rating of “Hold” and an average price target of C$3.18.

Get Slate Office REIT alerts:

Slate Office REIT Stock Performance

The firm’s fifty day moving average price is C$3.20 and its 200 day moving average price is C$4.04. 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 firm has a market capitalization of C$160.04 million, a PE ratio of -9.52 and a beta of 1.14.

Slate Office REIT Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 15th will be issued a dividend of $0.01 per share. This represents a $0.12 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend is Thursday, April 27th. Slate Office REIT’s dividend payout ratio is currently -57.14%.

Slate Office REIT Company Profile

(Get Rating)

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.

Read More

• Starbucks Stock Becomes a Value Play
• Kraft Heinz Recovery Gains Momentum 
• Here’s Why AMD’s Weak Guidance Is A Blessing In Disguise
• BP Shares Sold Off After Earnings: Here Is What Upset Markets
• Will Forced Divesture Of Grail Boost Illumina Shareholder Value?

Receive News & Ratings for Slate Office REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Slate Office REIT and related companies with MarketBeat.com's FREE daily email newsletter.