Slate Office REIT (TSE:SOT.UN) Upgraded to Market Perform at Cormark

Slate Office REIT (TSE:SOT.UN) was upgraded by equities researchers at Cormark from a “reduce” rating to a “market perform” rating in a report issued on Friday, BayStreet.CA reports.

SOT.UN has been the topic of a number of other research reports. CIBC reduced their target price on Slate Office REIT from C$1.50 to C$1.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. TD Securities reduced their target price on Slate Office REIT from C$1.40 to C$1.00 and set a “hold” rating for the company in a research note on Thursday, November 16th. Royal Bank of Canada lowered their target price on shares of Slate Office REIT from C$1.75 to C$1.00 and set a “sector perform” rating on the stock in a report on Monday, November 20th. Finally, Raymond James dropped their price objective on Slate Office REIT from C$1.10 to C$1.00 and set a “market perform” rating on the stock in a research note on Monday, November 20th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$1.26.

Slate Office REIT Stock Up 1.3 %

Shares of SOT.UN traded up C$0.01 during mid-day trading on Friday, hitting C$0.81. 26,088 shares of the company’s stock were exchanged, compared to its average volume of 78,285. The company has a debt-to-equity ratio of 229.55, a current ratio of 0.56 and a quick ratio of 0.14. Slate Office REIT has a 52 week low of C$0.68 and a 52 week high of C$4.28. The company has a 50-day simple moving average of C$0.84 and a 200 day simple moving average of C$1.05. The company has a market cap of C$64.84 million, a PE ratio of -0.57 and a beta of 0.94.

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.