Royal Bank of Canada Issues Pessimistic Forecast for European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Price

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price objective decreased by Royal Bank of Canada from C$3.90 to C$2.60 in a research note released on Tuesday,BayStreet.CA reports.

ERE.UN has been the topic of a number of other research reports. Raymond James upped their price target on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a research note on Thursday, September 19th. Ventum Financial upped their target price on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. CIBC dropped their price target 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. Scotiabank boosted their price objective 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, September 18th. Finally, 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$3.42.

European Residential Real Estate Investment Trust Stock Up 0.4 %

Shares of ERE.UN opened at C$2.48 on Tuesday. 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 stock has a market capitalization of C$228.16 million, a price-to-earnings ratio of 13.05 and a beta of 1.28. European Residential Real Estate Investment Trust has a 1 year low of C$2.23 and a 1 year high of C$3.99. The business’s 50 day simple moving average is C$3.51 and its 200-day simple moving average is C$3.04.

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.