European Residential Real Estate Investment Trust (TSE:ERE.UN) Downgraded to Sector Perform at Scotiabank

Scotiabank downgraded shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) from an outperform rating to a sector perform rating in a research note released on Monday morning, BayStreet.CA reports. They currently have C$3.00 price objective on the stock, down from their previous price objective of C$3.50.

A number of other research firms also recently commented on ERE.UN. Desjardins decreased their price target on European Residential Real Estate Investment Trust from C$3.00 to C$2.75 and set a hold rating for the company in a research note on Friday, February 23rd. Echelon Wealth Partners raised European Residential Real Estate Investment Trust from a hold rating to a speculative buy rating and dropped their price target for the company from C$3.30 to C$3.00 in a research report on Friday, February 23rd. Finally, Raymond James decreased their price objective on shares of European Residential Real Estate Investment Trust from C$2.85 to C$2.75 and set a market perform rating for the company in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, European Residential Real Estate Investment Trust has a consensus rating of Hold and an average price target of C$3.14.

European Residential Real Estate Investment Trust Price Performance

Shares of ERE.UN stock opened at C$2.30 on Monday. The firm has a fifty day moving average of C$2.35 and a two-hundred day moving average of C$2.38. The firm has a market cap of C$211.05 million, a P/E ratio of -3.19 and a beta of 1.21. European Residential Real Estate Investment Trust has a 1-year low of C$2.12 and a 1-year high of C$3.24. The company has a debt-to-equity ratio of 272.09, a current ratio of 0.04 and a quick ratio of 0.20.

European Residential Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be paid a $0.01 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Tuesday, April 30th. European Residential Real Estate Investment Trust’s payout ratio is -23.61%.

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.