Royal Bank of Canada Forecasts Strong Price Appreciation for European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock

European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) had its price target increased by research analysts at Royal Bank of Canada from C$2.50 to C$3.90 in a research note issued on Friday,BayStreet.CA reports. Royal Bank of Canada's target price points to a potential upside of 11.43% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Raymond James increased their price objective on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a research note on Thursday, September 19th. TD Securities upped their price objective on shares of European Residential Real Estate Investment Trust from C$3.50 to C$3.75 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Ventum Financial upped their price objective on shares of 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. Scotiabank increased their price target on shares of European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the stock a "sector perform" rating in a research note on Wednesday, September 18th. Finally, CIBC cut their price objective on European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, European Residential Real Estate Investment Trust presently has a consensus rating of "Moderate Buy" and an average target price of C$3.57.

European Residential Real Estate Investment Trust Stock Performance

Shares of ERE.UN traded down C$0.14 during mid-day trading on Friday, reaching C$3.50. The company's stock had a trading volume of 245,767 shares, compared to its average volume of 128,999. The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06. The business has a 50-day simple moving average of C$3.08 and a two-hundred day simple moving average of C$2.67. European Residential Real Estate Investment Trust has a 1-year low of C$2.17 and a 1-year high of C$3.65. The stock has a market cap of C$322 million, a P/E ratio of 18.42 and a beta of 1.28.

European Residential Real Estate Investment Trust Company Profile

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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