CIBC Cuts European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target to C$3.00

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price objective cut by stock analysts at CIBC from C$3.50 to C$3.00 in a research report issued on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price suggests a potential downside of 4.15% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Scotiabank increased their price target on shares of European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the stock a “sector perform” rating in a research note on Wednesday. Raymond James upgraded European Residential Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and boosted their price target for the company from C$2.75 to C$3.25 in a research report on Tuesday, July 16th. Ventum Financial boosted their target price on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the company a “buy” rating in a report on Wednesday. Finally, TD Securities upped their price target on European Residential Real Estate Investment Trust from C$3.50 to C$3.75 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$3.39.

European Residential Real Estate Investment Trust Stock Performance

Shares of ERE.UN stock traded up C$0.08 during trading hours on Wednesday, hitting C$3.13. The stock had a trading volume of 818,395 shares, compared to its average volume of 92,954. The company has a debt-to-equity ratio of 256.06, a current ratio of 0.27 and a quick ratio of 0.20. The firm has a market capitalization of C$287.96 million, a PE ratio of 16.47 and a beta of 1.25. The stock’s 50 day moving average is C$2.71 and its 200 day moving average is C$2.46. European Residential Real Estate Investment Trust has a twelve month low of C$2.12 and a twelve month high of C$3.27.

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.