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

Shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$3.29.

A number of brokerages have issued reports on ERE.UN. TD Securities raised their price objective on shares of European Residential Real Estate Investment Trust from C$3.75 to C$4.25 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reduced 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. Finally, Raymond James dropped their price objective 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 report on Wednesday, January 8th.

European Residential Real Estate Investment Trust Price Performance

ERE.UN opened at C$2.40 on Friday. 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$220.80 million, a P/E ratio of 12.63 and a beta of 1.28. The company’s 50 day simple moving average is C$3.17 and its 200-day simple moving average is C$3.04. European Residential Real Estate Investment Trust has a one year low of C$2.23 and a one year 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.