Slate Office REIT (TSE:SOT.UN) was downgraded by National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued on Tuesday. They presently have a C$8.25 price target on the stock, down from their previous price target of C$8.60. National Bank Financial’s price objective indicates a potential upside of 7.98% from the stock’s previous close.
Separately, BMO Capital Markets set a C$8.25 price target on Slate Office REIT and gave the stock a “market perform” rating in a research report on Thursday, January 4th.
Shares of Slate Office REIT (TSE SOT.UN) traded down C$0.12 during midday trading on Tuesday, hitting C$7.64. The stock had a trading volume of 96,227 shares, compared to its average volume of 257,428. Slate Office REIT has a 1-year low of C$7.48 and a 1-year high of C$8.46. The company has a market cap of $435.11 and a P/E ratio of 8.13.
Slate Office REIT, formerly FAM Real Estate Investment Trust, is a Canada-based open-ended investment trust. The Trust focuses on acquiring, owning and leasing a portfolio of diversified revenue-producing commercial real estate properties in Canada with an emphasis on office properties. The Trust has a portfolio that spans approximately four million square feet (sq.ft.) of gross leasable area (GLA) and consists of over 30 properties located across Canada.
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