Brokerages Set European Residential Real Estate Investment Trust (TSE:ERE.UN) Target Price at C$3.29

Shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) have received a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$3.18.

Several research firms recently issued reports on ERE.UN. TD Securities cut shares of European Residential Real Estate Investment Trust from a “buy” rating to a “hold” rating and set a C$2.75 target price for the company. in a research note on Thursday, February 20th. Raymond James decreased their price objective on European Residential Real Estate Investment Trust from C$4.50 to C$3.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their target price 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.

European Residential Real Estate Investment Trust Price Performance

Shares of ERE.UN opened at C$2.51 on Wednesday. The company has a 50 day moving average of C$2.75 and a two-hundred day moving average of C$3.02. The company has a quick ratio of 0.20, a current ratio of 0.27 and a debt-to-equity ratio of 256.06. European Residential Real Estate Investment Trust has a twelve month low of C$2.23 and a twelve month high of C$3.99. The company has a market cap of C$230.92 million, a price-to-earnings ratio of 13.21 and a beta of 1.28.

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.