Slate Office REIT is an open-ended real estate investment trust.
Undervalued average dividend payer.
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: SLTT.F has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: SLTT.F underperformed the US REITs industry which returned 12.8% over the past year.
Return vs Market: SLTT.F underperformed the US Market which returned 10.5% over the past year.
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
No news available
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: SLTT.F ($4.37) is trading below our estimate of fair value ($10.13)
Significantly Below Fair Value: SLTT.F is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SLTT.F is good value based on its PE Ratio (5.6x) compared to the REITs industry average (36.3x).
PE vs Market: SLTT.F is good value based on its PE Ratio (5.6x) compared to the US market (17.2x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate SLTT.F's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: SLTT.F is good value based on its PB Ratio (0.6x) compared to the US REITs industry average (2x).
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 SLTT.F's forecast earnings growth is above the savings rate (1.7%).
Earnings vs Market: Insufficient data to determine if SLTT.F's earnings are forecast to grow faster than the US market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: SLTT.F's revenue is expected to decline over the next 3 years (-2% per year).
High Growth Revenue: SLTT.F's revenue is forecast to decline over the next 3 years (-2% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if SLTT.F'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: SLTT.F has a large one-off gain of CA$54.6M impacting its September 30 2019 financial results.
Growing Profit Margin: SLTT.F's current net profit margins (31.6%) are lower than last year (32.8%).
Past Earnings Growth Analysis
Earnings Trend: SLTT.F's earnings have grown significantly by 36.9% per year over the past 5 years.
Accelerating Growth: SLTT.F's earnings growth over the past year (11.4%) is below its 5-year average (36.9% per year).
Earnings vs Industry: SLTT.F earnings growth over the past year (11.4%) exceeded the REITs industry 5.9%.
Return on Equity
High ROE: SLTT.F's Return on Equity (11.5%) is considered low.
Return on Assets
Return on Capital Employed
How is Slate Office REIT's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: SLTT.F has a high level of physical assets or inventory.
Debt Coverage by Assets: SLTT.F's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: SLTT.F's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if SLTT.F has a sufficient allowance for bad loans.
Low Risk Liabilities: SLTT.F reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if SLTT.F has an acceptable proportion of non-loan assets held.
Low Risk Deposits: SLTT.F has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if SLTT.F has an appropriate level of bad loans.
What is Slate Office REIT's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: SLTT.F's dividend (7.02%) is higher than the bottom 25% of dividend payers in the US market (1.52%).
High Dividend: SLTT.F's dividend (7.02%) is in the top 25% of dividend payers in the US market (3.9%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, SLTT.F has been paying a dividend for less than 10 years.
Growing Dividend: SLTT.F has only been paying a dividend for 7 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (76.6%), SLTT.F's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SLTT.F's dividends in 3 years are forecast to be thoroughly covered by earnings (0.7% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Scott Antoniak 0
Mr. Scott Raymond Antoniak has been the Chief Executive Officer of Slate Office REIT (Formerly FAM Real Estate Investment Trust) since January 22, 2015. Mr. Antoniak also serves as a Chief Operating Office ...
CEO Compensation Analysis
Compensation vs Market: Scott's total compensation ($USD526.78K) is below average for companies of similar size in the US market ($USD1.73M).
Compensation vs Earnings: Scott's compensation has been consistent with company performance over the past year.
|Chief Executive Officer||5.1yrs||CA$700.00k||0.039% CA$120.6k|
|Chief Operating Officer||3.3yrs||CA$400.00k||0.014% CA$44.0k|
|Chief Financial Officer||0.2yrs||no data||0.0016% CA$5.1k|
|Associate||4.1yrs||no data||no data|
|General Counsel of Slate Asset Management LP||0yrs||no data||0.017% CA$54.7k|
|Senior Vice President of Finance & Taxation||7.1yrs||no data||no data|
|Managing Director of Development of Slate Asset Management L.P.||0yrs||no data||no data|
|Director of Acquisitions||0yrs||no data||no data|
|Chief Executive Officer of Slate Retail REIT||4.5yrs||no data||no data|
|Vice President of Asset Management||4.1yrs||no data||no data|
Experienced Management: SLTT.F's management team is considered experienced (4.1 years average tenure).
|Independent Trustee||2.8yrs||CA$79.50k||0.10% CA$322.7k|
|Independent Chairman of the Board||4.5yrs||CA$103.50k||0.039% CA$123.2k|
|Independent Trustee||4.7yrs||CA$76.75k||0.021% CA$65.0k|
|Independent Trustee||1.1yrs||no data||0.0044% CA$13.8k|
|4.8yrs||no data||0.030% CA$95.1k|
|5.3yrs||no data||0.15% CA$461.2k|
|Independent Trustee||2.1yrs||CA$86.50k||no data|
Experienced Board: SLTT.F's board of directors are considered experienced (4.5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: SLTT.F insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.7%.
Slate Office REIT's company bio, employee growth, exchange listings and data sources
- Name: Slate Office REIT
- Ticker: SLTT.F
- Exchange: OTCPK
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: CA$416.301m
- Market Cap: CA$288.814m
- Listing Market Cap: CA$312.952m
- Shares outstanding: 73.16m
- Website: https://www.slateofficereit.com
- Slate Office REIT
- 121 King Street West
- Suite 200
- M5H 3T9
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|SOT.UN||TSX (The Toronto Stock Exchange)||Yes||Trust Units||CA||CAD||Dec 2012|
|SLTT.F||OTCPK (Pink Sheets LLC)||Yes||Trust Units||US||USD||Dec 2012|
Slate Office REIT is an open-ended real estate investment trust. The REIT's portfolio comprises 38 strategic and well located real estate assets located primarily across Canada's major population centres and includes two downtown assets in Chicago, Illinois. The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/27 02:55|
|End of Day Share Price||2020/02/24 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.