Scotiabank Has Lowered Expectations for European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Price

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target dropped by stock analysts at Scotiabank from C$2.85 to C$1.25 in a report issued on Friday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 16.82% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ERE.UN. Royal Bank Of Canada reduced their price objective on shares of European Residential Real Estate Investment Trust from C$2.45 to C$1.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 1st. TD Securities reduced their price objective on shares of European Residential Real Estate Investment Trust from C$2.75 to C$1.25 and set a “hold” rating for the company in a research note on Tuesday, September 30th. Raymond James Financial cut shares of European Residential Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from C$3.00 to C$2.75 in a research note on Wednesday, August 13th. Cormark cut their target price on shares of European Residential Real Estate Investment Trust from C$2.90 to C$1.60 in a research note on Monday, September 29th. Finally, CIBC cut their target price on shares of European Residential Real Estate Investment Trust from C$3.00 to C$1.25 and set an “outperform” rating for the company in a research note on Monday, September 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$1.52.

European Residential Real Estate Investment Trust Stock Up 3.9%

European Residential Real Estate Investment Trust stock opened at C$1.07 on Friday. The firm’s fifty day moving average price is C$1.99 and its two-hundred day moving average price is C$2.33. 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 firm has a market capitalization of C$99.64 million, a price-to-earnings ratio of -1.67 and a beta of 1.61. European Residential Real Estate Investment Trust has a 1-year low of C$0.98 and a 1-year high of C$3.99.

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.