European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target Cut to C$2.60 by Analysts at Royal Bank of Canada

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its target price reduced by analysts at Royal Bank of Canada from C$3.90 to C$2.60 in a research note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 5.26% from the stock’s previous close.

A number of other research analysts also recently commented on ERE.UN. TD Securities increased their target price on European Residential Real Estate Investment Trust from C$3.75 to C$4.25 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Raymond James upped their target price on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a research report on Thursday, September 19th. Scotiabank raised their price objective on European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the company a “sector perform” rating in a research note on Wednesday, September 18th. Ventum Financial lifted their price objective on shares of 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, September 18th. Finally, CIBC dropped their target price on European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set an “outperform” rating for the company in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$3.42.

European Residential Real Estate Investment Trust Price Performance

TSE:ERE.UN remained flat at C$2.47 on Tuesday. The company’s stock had a trading volume of 568,213 shares, compared to its average volume of 1,199,228. The stock has a market capitalization of C$227.24 million, a price-to-earnings ratio of 13.00 and a beta of 1.28. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27. The stock’s 50 day moving average is C$3.51 and its 200-day moving average is C$3.04. European Residential Real Estate Investment Trust has a twelve month low of C$2.23 and a twelve month high of C$3.99.

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.