European Residential Real Estate Investment Trust (TSE:ERE.UN) Shares Down 0.9% Following Analyst Downgrade

European Residential Real Estate Investment Trust (TSE:ERE.UN)’s stock price traded down 0.9% on Monday after Scotiabank lowered their price target on the stock from C$2.85 to C$1.25. The stock traded as low as C$1.05 and last traded at C$1.06. 332,146 shares changed hands during trading, an increase of 26% from the average session volume of 264,254 shares. The stock had previously closed at C$1.07.

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

European Residential Real Estate Investment Trust Trading Down 0.9%

The company has a market capitalization of C$98.71 million, a PE ratio of -1.66 and a beta of 1.61. The company’s fifty day moving average is C$1.97 and its 200-day moving average is C$2.32. The company has a debt-to-equity ratio of 256.06, a current ratio of 0.27 and a quick ratio of 0.20.

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.