European Residential Real Estate Investment Trust (TSE:ERE.UN) PT Lowered to C$3.00

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price objective lowered by equities researchers at CIBC from C$3.50 to C$3.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price target indicates a potential downside of 6.83% from the stock’s current price.

Several other equities research analysts have also recently commented on ERE.UN. Ventum Financial upped their price target on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank upped their price target on 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. Raymond James upgraded European Residential Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and upped their price target for the stock from C$2.75 to C$3.25 in a research note on Tuesday, July 16th. Finally, TD Securities upped their price target on European Residential Real Estate Investment Trust from C$3.50 to C$3.75 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, European Residential Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average target price of C$3.47.

European Residential Real Estate Investment Trust Price Performance

European Residential Real Estate Investment Trust stock opened at C$3.22 on Wednesday. European Residential Real Estate Investment Trust has a 12 month low of C$2.12 and a 12 month high of C$3.27. 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 business has a 50 day simple moving average of C$2.75 and a 200-day simple moving average of C$2.48. The stock has a market capitalization of C$296.24 million, a PE ratio of 16.95 and a beta of 1.25.

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.