European Residential Real Estate Investment Trust (TSE:ERE.UN) Trading Down 0.5% – What’s Next?

European Residential Real Estate Investment Trust (TSE:ERE.UN)’s stock price fell 0.5% during trading on Friday . The stock traded as low as C$3.77 and last traded at C$3.82. 272,038 shares traded hands during mid-day trading, an increase of 59% from the average session volume of 171,136 shares. The stock had previously closed at C$3.84.

Wall Street Analyst Weigh In

ERE.UN has been the subject of a number of recent analyst reports. TD Securities raised their price objective 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 note on Tuesday, November 12th. Royal Bank of Canada raised their price target on shares of European Residential Real Estate Investment Trust from C$2.50 to C$3.90 in a research report on Friday, November 8th. Scotiabank upped their price target on shares of European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the company a “sector perform” rating in a report on Wednesday, September 18th. CIBC decreased their price objective on shares of European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set an “outperform” rating for the company in a report on Wednesday, September 18th. Finally, Raymond James boosted 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, European Residential Real Estate Investment Trust presently has an average rating of “Moderate Buy” and an average target price of C$3.58.

European Residential Real Estate Investment Trust Price Performance

The stock has a market capitalization of C$351.44 million, a P/E ratio of 20.11 and a beta of 1.28. The company has a 50 day moving average of C$3.50 and a 200-day moving average of C$3.00. The company has a quick ratio of 0.20, a current ratio of 0.27 and a debt-to-equity ratio of 256.06.

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.