European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Price Down 2% – Time to Sell?

European Residential Real Estate Investment Trust (TSE:ERE.UN)’s share price was down 2% during mid-day trading on Friday . The company traded as low as C$2.40 and last traded at C$2.48. Approximately 1,591,304 shares were traded during mid-day trading, an increase of 333% from the average daily volume of 367,581 shares. The stock had previously closed at C$2.53.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of European Residential Real Estate Investment Trust from C$3.90 to C$2.60 in a report on Tuesday, January 7th. Raymond James dropped their target price on European Residential Real Estate Investment Trust from C$4.50 to C$3.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Finally, TD Securities cut European Residential Real Estate Investment Trust from a “buy” rating to a “hold” rating and set a C$2.75 price target on the stock. in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, European Residential Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average target price of C$3.18.

European Residential Real Estate Investment Trust Price Performance

The company has a 50-day moving average of C$2.49 and a 200-day moving average of C$2.97. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27. The firm has a market capitalization of C$228.16 million, a price-to-earnings ratio of 13.05 and a beta of 1.28.

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.