Investment Thesis
Slate Office REIT (SLTTF) (TSX:SOT.UN) delivered solid Q4 2018 result with strong same property net operating income growth. However, its high leverage has forced the company to cut its dividend by 47% and sell some of its properties. Despite these moves, we think it may still take several years for the company’s balance sheet to return to an acceptable level. Therefore, we recommend investors to remain on the sideline and seek opportunities elsewhere.
Source: Investor Presentation
Recent Developments: Q4 2018 Highlights
Slate Office posted strong growth in its Q4 2018 earnings.