European Residential Real Estate Investment Trust (TSE:ERE.UN) Downgraded by Raymond James Financial to Market Perform

Raymond James Financial cut shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) from an outperform rating to a market perform rating in a report released on Wednesday,BayStreet.CA reports. The firm currently has C$2.75 price objective on the stock, down from their prior price objective of C$3.00.

European Residential Real Estate Investment Trust Stock Performance

Shares of European Residential Real Estate Investment Trust stock opened at C$2.41 on Wednesday. The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06. The business has a 50-day moving average price of C$2.53 and a two-hundred day moving average price of C$2.50. European Residential Real Estate Investment Trust has a 1-year low of C$2.24 and a 1-year high of C$3.99. The company has a market cap of C$221.72 million, a P/E ratio of 12.68 and a beta of 1.28.

Insider Activity

In related news, Director Lisa Maureen Russell sold 20,975 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of C$2.52, for a total value of C$52,857.00. Over the last quarter, insiders have sold 23,799 shares of company stock worth $59,995. 12.50% of the stock is owned by corporate insiders.

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.