Slate Office REIT (TSE:SOT.UN) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Shares of Slate Office REIT (TSE:SOT.UN) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$0.47 and traded as high as C$0.70. Slate Office REIT shares last traded at C$0.69, with a volume of 23,655 shares.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SOT.UN shares. CIBC lowered shares of Slate Office REIT from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 26th. TD Securities lowered shares of Slate Office REIT from a “hold” rating to a “sell” rating and lowered their price target for the company from C$0.75 to C$0.25 in a report on Wednesday, June 26th. Royal Bank of Canada lowered shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from C$0.70 to C$0.30 in a report on Wednesday, June 26th. Finally, BMO Capital Markets lowered shares of Slate Office REIT from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from C$0.70 to C$0.30 in a report on Wednesday, June 26th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, Slate Office REIT presently has an average rating of “Reduce” and a consensus target price of C$0.54.

Slate Office REIT Stock Down 6.1 %

The company has a quick ratio of 0.14, a current ratio of 0.47 and a debt-to-equity ratio of 329.26. The company has a market capitalization of C$49.84 million, a price-to-earnings ratio of -0.19 and a beta of 1.35. The stock’s fifty day moving average price is C$0.48 and its 200-day moving average price is C$0.49.

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.