European Residential Real Estate Investment Trust (TSE:ERE.UN) Rating Lowered to “Tender” at Desjardins

European Residential Real Estate Investment Trust (TSE:ERE.UN) was downgraded by research analysts at Desjardins from a “hold” rating to a “tender” rating in a note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$1.90 target price on the stock, up from their previous target price of C$1.20. Desjardins’ target price suggests a potential upside of 63.79% from the stock’s previous close.

ERE.UN has been the topic of several other reports. Canadian Imperial Bank of Commerce cut European Residential Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a research note on Friday, November 7th. TD Securities lowered their target price on European Residential Real Estate Investment Trust from C$1.25 to C$1.19 and set a “sell” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, European Residential Real Estate Investment Trust has a consensus rating of “Reduce” and a consensus target price of C$1.56.

European Residential Real Estate Investment Trust Stock Performance

TSE ERE.UN opened at C$1.16 on Wednesday. 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 cap of C$108.00 million, a price-to-earnings ratio of -3.85 and a beta of 1.38. The firm has a 50 day simple moving average of C$1.16 and a 200-day simple moving average of C$1.38. European Residential Real Estate Investment Trust has a one year low of C$0.98 and a one year high of C$2.64.

European Residential Real Estate Investment Trust (TSE:ERE.UN) last announced its earnings results on Wednesday, February 11th. The company reported C($0.12) earnings per share for the quarter. European Residential Real Estate Investment Trust had a return on equity of 6.43% and a net margin of 29.74%.The business had revenue of C$6.70 million for the quarter. Equities research analysts anticipate that European Residential Real Estate Investment Trust will post 0.1190476 EPS for the current fiscal year.

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. ERES owns a portfolio of 137 multi-residential properties, comprised of 5,865 suites and ancillary retail space located in the Netherlands, and owns one office property in Germany and one office property in Belgium.