European Residential Real Estate Investment Trust (TSE:ERE.UN) Receives Average Recommendation of “Moderate Buy” from Analysts

European Residential Real Estate Investment Trust (TSE:ERE.UN) has received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$3.19.

A number of analysts have weighed in on the stock. Echelon Wealth Partners upgraded shares of European Residential Real Estate Investment Trust from a “hold” rating to a “speculative buy” rating and reduced their price objective for the company from C$3.30 to C$3.00 in a research note on Friday, February 23rd. Raymond James dropped their price target on shares of European Residential Real Estate Investment Trust from C$2.85 to C$2.75 and set a “market perform” rating on the stock in a report on Friday, February 23rd. Finally, Desjardins dropped their price target on shares of European Residential Real Estate Investment Trust from C$3.00 to C$2.75 and set a “hold” rating on the stock in a report on Friday, February 23rd.

European Residential Real Estate Investment Trust Stock Performance

Shares of ERE.UN opened at C$2.37 on Thursday. The company has a quick ratio of 0.20, a current ratio of 0.09 and a debt-to-equity ratio of 290.94. European Residential Real Estate Investment Trust has a twelve month low of C$2.12 and a twelve month high of C$3.44. The stock has a market capitalization of C$216.78 million, a P/E ratio of -3.29 and a beta of 1.21. The firm has a fifty day simple moving average of C$2.35 and a two-hundred day simple moving average of C$2.37.

European Residential Real Estate Investment Trust Dividend Announcement

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

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.