Slate Office REIT is an owner and operator of North American office real estate. More Details
Average dividend payer and slightly overvalued.
Share Price & News
How has Slate Office REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SOT.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: SOT.UN's weekly volatility (2%) has been stable over the past year.
7 Day Return
1 Year Return
Return vs Industry: SOT.UN underperformed the Canadian REITs industry which returned 17.4% over the past year.
Return vs Market: SOT.UN underperformed the Canadian Market which returned 39.2% over the past year.
Long-Term Price Volatility Vs. Market
How volatile is Slate Office REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall StWhat Type Of Returns Would Slate Office REIT's(TSE:SOT.UN) Shareholders Have Earned If They Purchased Their SharesThree Years Ago?
6 months ago | Simply Wall StIf You Had Bought Slate Office REIT's (TSE:SOT.UN) Shares Three Years Ago You Would Be Down 52%
10 months ago | Simply Wall StDoes The Slate Office REIT (TSE:SOT.UN) Share Price Fall With The Market?
Is Slate Office REIT undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SOT.UN (CA$4.46) is trading below our estimate of fair value (CA$5.35)
Significantly Below Fair Value: SOT.UN is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: SOT.UN is poor value based on its PE Ratio (22.2x) compared to the CA REITs industry average (10.9x).
PE vs Market: SOT.UN is poor value based on its PE Ratio (22.2x) compared to the Canadian market (16.5x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate SOT.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: SOT.UN is good value based on its PB Ratio (0.5x) compared to the CA REITs industry average (0.9x).
How is Slate Office REIT forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if SOT.UN's forecast earnings growth is above the savings rate (1.5%).
Earnings vs Market: Insufficient data to determine if SOT.UN's earnings are forecast to grow faster than the Canadian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: SOT.UN's revenue (0.4% per year) is forecast to grow slower than the Canadian market (7.2% per year).
High Growth Revenue: SOT.UN's revenue (0.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if SOT.UN's Return on Equity is forecast to be high in 3 years time
How has Slate Office REIT performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SOT.UN has a large one-off gain of CA$7.7M impacting its December 31 2020 financial results.
Growing Profit Margin: SOT.UN's current net profit margins (7.4%) are lower than last year (28.9%).
Past Earnings Growth Analysis
Earnings Trend: SOT.UN's earnings have grown by 4.9% per year over the past 5 years.
Accelerating Growth: SOT.UN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SOT.UN had negative earnings growth (-78.1%) over the past year, making it difficult to compare to the REITs industry average (-17.1%).
Return on Equity
High ROE: SOT.UN's Return on Equity (2.3%) is considered low.
How is Slate Office REIT's financial position?
Financial Position Analysis
Short Term Liabilities: SOT.UN's short term assets (CA$25.7M) do not cover its short term liabilities (CA$206.4M).
Long Term Liabilities: SOT.UN's short term assets (CA$25.7M) do not cover its long term liabilities (CA$868.0M).
Debt to Equity History and Analysis
Debt Level: SOT.UN's debt to equity ratio (170.4%) is considered high.
Reducing Debt: SOT.UN's debt to equity ratio has reduced from 212.6% to 170.4% over the past 5 years.
Debt Coverage: SOT.UN's debt is not well covered by operating cash flow (4.7%).
Interest Coverage: SOT.UN's interest payments on its debt are not well covered by EBIT (1.1x coverage).
What is Slate Office REIT current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SOT.UN's dividend (8.96%) is higher than the bottom 25% of dividend payers in the Canadian market (1.47%).
High Dividend: SOT.UN's dividend (8.96%) is in the top 25% of dividend payers in the Canadian market (4.73%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, SOT.UN has been paying a dividend for less than 10 years.
Growing Dividend: SOT.UN has only been paying a dividend for 8 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (62.4%), SOT.UN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SOT.UN's dividends in 3 years are forecast to be covered by earnings (60.2% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mr. Steve Hodgson serves as the Chief Executive Officer of Slate Office REIT since June 3, 2020. He had been Chief Operating Officer of Slate Office REIT since November 03, 2016 until June 3, 2020 and also...
CEO Compensation Analysis
Compensation vs Market: Steve's total compensation ($USD398.14K) is about average for companies of similar size in the Canadian market ($USD420.34K).
Compensation vs Earnings: Steve's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Experienced Management: SOT.UN's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.
Experienced Board: SOT.UN's board of directors are considered experienced (3.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Slate Office REIT's company bio, employee growth, exchange listings and data sources
- Name: Slate Office REIT
- Ticker: SOT.UN
- Exchange: TSX
- Founded: NaN
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: CA$325.806m
- Market Cap: CA$302.234m
- Shares outstanding: 73.05m
- Website: https://www.slateofficereit.com
- Slate Office REIT
- 121 King Street West
- Suite 200
- M5H 3T9
Slate Office REIT is an owner and operator of North American office real estate. The REIT owns interests in and operates a portfolio of 35 strategic and well-located real estate assets across Canada's majo...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/04/11 00:14|
|End of Day Share Price||2021/04/09 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.