European Residential Real Estate Investment Trust (TSE:ERE.UN) PT Raised to C$3.75 at Scotiabank

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price objective lifted by research analysts at Scotiabank from C$2.25 to C$3.75 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 19.81% from the stock’s previous close.

ERE.UN has been the subject of a number of other reports. Ventum Financial lifted their price target on shares of European Residential Real Estate Investment Trust from C$3.00 to C$3.25 in a research report on Tuesday, July 16th. CIBC lifted their price target on shares of European Residential Real Estate Investment Trust from C$3.00 to C$3.50 in a research report on Thursday, August 8th. TD Securities lifted their price target on shares of European Residential Real Estate Investment Trust from C$3.50 to C$3.75 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Raymond James upgraded shares of European Residential Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$2.75 to C$3.25 in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$3.39.

European Residential Real Estate Investment Trust Stock Performance

ERE.UN traded up C$0.08 during trading on Wednesday, reaching C$3.13. The company’s stock had a trading volume of 818,395 shares, compared to its average volume of 92,954. The company’s fifty day moving average price is C$2.71 and its 200-day moving average price is C$2.46. European Residential Real Estate Investment Trust has a 52-week low of C$2.12 and a 52-week high of C$3.27. 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 company has a market capitalization of C$287.96 million, a price-to-earnings ratio of 16.58 and a beta of 1.25.

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.