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 equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a report issued on Thursday,BayStreet.CA reports. They presently have a C$2.75 target price on the stock. TD Securities’ target price points to a potential upside of 10.44% from the stock’s current price.

Other research analysts have also issued reports about the company. Royal Bank of Canada reduced their target price on European Residential Real Estate Investment Trust from C$3.90 to C$2.60 in a research report on Tuesday, January 7th. Raymond James reduced their target price 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$3.11.

European Residential Real Estate Investment Trust Stock Down 0.4 %

Shares of ERE.UN traded down C$0.01 during trading hours on Thursday, hitting C$2.49. The company had a trading volume of 53,136 shares, compared to its average volume of 485,534. The company has a market capitalization of C$229.08 million, a PE ratio of 13.11 and a beta of 1.28. The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06. European Residential Real Estate Investment Trust has a one year low of C$2.23 and a one year high of C$3.99. The company’s fifty day moving average price is C$2.83 and its two-hundred day moving average price is C$3.02.

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.