European Residential Real Estate Investment Trust (TSE:ERE.UN) Trading 1.2% Higher - Here's What Happened

Shares of European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) shot up 1.2% during mid-day trading on Thursday . The company traded as high as C$2.52 and last traded at C$2.51. 77,281 shares were traded during trading, a decline of 80% from the average session volume of 391,236 shares. The stock had previously closed at C$2.48.

Analyst Upgrades and Downgrades

A number of analysts have commented on ERE.UN shares. TD Securities downgraded European Residential Real Estate Investment Trust from a "buy" rating to a "hold" rating and set a C$2.75 price objective for the company. in a research report on Thursday, February 20th. Raymond James reduced their target price on European Residential Real Estate Investment Trust from C$4.50 to C$3.00 and set an "outperform" rating for the company in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their price target on shares of European Residential Real Estate Investment Trust from C$3.90 to C$2.60 in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$3.18.

European Residential Real Estate Investment Trust Trading Up 0.8 %

The business's 50 day simple moving average is C$2.45 and its 200-day simple moving average is C$3.00. The company has a debt-to-equity ratio of 256.06, a current ratio of 0.27 and a quick ratio of 0.20. The stock has a market capitalization of C$233.68 million, a P/E ratio of 13.37 and a beta of 1.28.

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About European Residential Real Estate Investment Trust

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.