European Residential Real Estate Investment Trust (TSE:ERE.UN) Cut to “Sector Perform” at Scotiabank

Scotiabank lowered shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) from an outperform rating to a sector perform rating in a research report report published on Monday, BayStreet.CA reports. Scotiabank currently has C$3.00 target price on the stock, down from their previous target price of C$3.50.

Other analysts have also issued reports about the stock. Raymond James cut their target price 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 research note on Friday, February 23rd. Desjardins decreased their price objective on shares of European Residential Real Estate Investment Trust from C$3.00 to C$2.75 and set a hold rating for the company in a research report on Friday, February 23rd. Finally, Echelon Wealth Partners upgraded European Residential Real Estate Investment Trust from a hold rating to a speculative buy rating and cut their price target for the company from C$3.30 to C$3.00 in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of C$3.14.

European Residential Real Estate Investment Trust Price Performance

ERE.UN opened at C$2.32 on Monday. The firm has a market cap of C$212.21 million, a price-to-earnings ratio of -3.22 and a beta of 1.21. The company has a current ratio of 0.09, a quick ratio of 0.20 and a debt-to-equity ratio of 290.94. The stock’s 50-day moving average price is C$2.35 and its 200 day moving average price is C$2.38. European Residential Real Estate Investment Trust has a 12-month low of C$2.12 and a 12-month high of C$3.38.

European Residential Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be issued a $0.01 dividend. This represents a $0.12 annualized dividend and a dividend yield of 5.17%. The ex-dividend date is Tuesday, April 30th. European Residential Real Estate Investment Trust’s payout ratio is currently -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.