Slate Office REIT (TSE:SOT.UN) Shares Pass Below 50-Day Moving Average of $3.74

Slate Office REIT (TSE:SOT.UN)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $3.74 and traded as low as $3.66. Slate Office REIT shares last traded at $3.72, with a volume of 197,455 shares trading hands.

A number of research firms have recently weighed in on SOT.UN. TD Securities raised shares of Slate Office REIT from a “hold” rating to a “buy” rating and reduced their target price for the company from C$6.00 to C$5.00 in a research report on Wednesday, April 1st. BMO Capital Markets cut their price objective on shares of Slate Office REIT from C$5.00 to C$4.00 in a report on Monday, May 18th. CIBC cut their price objective on shares of Slate Office REIT from C$6.00 to C$5.25 in a report on Sunday, May 17th. Canaccord Genuity raised their price objective on shares of Slate Office REIT from C$4.00 to C$4.50 in a report on Monday, May 18th. Finally, National Bank Financial cut their price objective on shares of Slate Office REIT from C$6.25 to C$4.25 and set an “outperform” rating for the company in a report on Tuesday, April 14th.

The company’s fifty day moving average is C$3.74 and its 200 day moving average is C$4.82. The company has a market capitalization of $254.12 million and a P/E ratio of 6.25. The company has a current ratio of 0.06, a quick ratio of 0.04 and a debt-to-equity ratio of 172.01.

The company also recently announced a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were paid a $0.0333 dividend. This represents a $0.40 annualized dividend and a yield of 10.46%. The ex-dividend date was Wednesday, April 29th. Slate Office REIT’s dividend payout ratio is presently 65.47%.

About Slate Office REIT (TSE:SOT.UN)

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.

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