European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target Lowered to C$3.00 at Raymond James

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target reduced by investment analysts at Raymond James from C$4.50 to C$3.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target points to a potential upside of 24.48% from the stock’s previous close.

A number of other equities analysts also recently issued reports on ERE.UN. Ventum Financial increased their price target 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. TD Securities increased their target price on European Residential Real Estate Investment Trust from C$3.75 to C$4.25 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Scotiabank raised their target price 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. CIBC reduced their price target on European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada lowered their price objective on European Residential Real Estate Investment Trust from C$3.90 to C$2.60 in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$3.29.

European Residential Real Estate Investment Trust Stock Performance

TSE:ERE.UN opened at C$2.41 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 0.27 and a debt-to-equity ratio of 256.06. The firm’s fifty day simple moving average is C$3.47 and its 200 day simple moving average is C$3.04. The stock has a market cap of C$221.72 million, a P/E ratio of 12.68 and a beta of 1.28. 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.