European Residential Real Estate Investment Trust (TSE:ERE.UN) Downgraded to “Hold” Rating by TD Securities

European Residential Real Estate Investment Trust (TSE:ERE.UN) was downgraded by research analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Thursday,BayStreet.CA reports. They presently have a C$2.75 price target on the stock. TD Securities’ price target would suggest a potential upside of 10.44% from the company’s current price.

A number of other brokerages also recently issued reports on ERE.UN. Raymond James lowered their price target 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 research report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on European Residential Real Estate Investment Trust from C$3.90 to C$2.60 in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$3.11.

European Residential Real Estate Investment Trust Stock Performance

Shares of ERE.UN traded down C$0.01 during mid-day trading on Thursday, reaching C$2.49. The company had a trading volume of 53,136 shares, compared to its average volume of 485,534. The stock has a market capitalization of C$229.08 million, a P/E ratio of 13.11 and a beta of 1.28. The stock has a 50 day moving average of C$2.83 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 52-week low of C$2.23 and a 52-week high of C$3.99.

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.