European Residential Real Estate Investment Trust (TSE:ERE.UN - Free Report) had its price target lowered by Royal Bank of Canada from C$3.90 to C$2.60 in a research note published on Tuesday morning,BayStreet.CA reports.
A number of other brokerages have also commented on ERE.UN. Raymond James raised their price target on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a research note on Thursday, September 19th. CIBC reduced their price objective on European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set an "outperform" rating for the company in a report on Wednesday, September 18th. Scotiabank lifted their price objective on European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the company a "sector perform" rating in a research report on Wednesday, September 18th. TD Securities boosted their price target on European Residential Real Estate Investment Trust from C$3.75 to C$4.25 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Ventum Financial upped their price objective on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$3.42.
Check Out Our Latest Research Report on ERE.UN
European Residential Real Estate Investment Trust Price Performance
Shares of ERE.UN traded up C$0.01 during mid-day trading on Tuesday, reaching C$2.48. The company had a trading volume of 821,347 shares, compared to its average volume of 1,263,312. The company's 50 day simple moving average is C$3.51 and its 200 day simple moving average is C$3.04. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27. European Residential Real Estate Investment Trust has a 1-year low of C$2.23 and a 1-year high of C$3.99. The company has a market capitalization of C$228.16 million, a price-to-earnings ratio of 13.05 and a beta of 1.28.
About European Residential Real Estate Investment Trust
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European Residential Real Estate Investment Trust - ERES is an unincorporated, open-ended real estate investment trust. ERES's REIT units are listed on the TSX under the symbol ERE.UN. ERES is Canada's only European-focused multi-residential REIT, with a current initial focus on investing in high-quality multi-residential real estate properties in the Netherlands.
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