European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Price Up 1.3%

European Residential Real Estate Investment Trust (TSE:ERE.UN) was up 1.3% during trading on Monday . The company traded as high as C$2.37 and last traded at C$2.37. Approximately 116,744 shares changed hands during trading, an increase of 116% from the average daily volume of 54,010 shares. The stock had previously closed at C$2.34.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ERE.UN. Echelon Wealth Partners raised European Residential Real Estate Investment Trust from a “hold” rating to a “speculative buy” rating and reduced their price target for the stock from C$3.30 to C$3.00 in a research note on Friday, February 23rd. Desjardins reduced their target price on European Residential Real Estate Investment Trust from C$3.00 to C$2.75 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Finally, Raymond James lowered their price target on European Residential Real Estate Investment Trust from C$2.85 to C$2.75 and set a “market perform” rating for the company in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$3.19.

European Residential Real Estate Investment Trust Price Performance

The company has a market cap of C$216.78 million, a price-to-earnings ratio of -3.29 and a beta of 1.21. The company’s 50-day simple moving average is C$2.35 and its 200-day simple moving average is C$2.37. The company has a debt-to-equity ratio of 290.94, a current ratio of 0.09 and a quick ratio of 0.20.

European Residential Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be paid a $0.01 dividend. This represents a $0.12 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Tuesday, April 30th. European Residential Real Estate Investment Trust’s dividend payout ratio (DPR) is -23.61%.

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.