Raymond James Raises European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target to C$4.00

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target hoisted by analysts at Raymond James from C$3.25 to C$4.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. Raymond James’ target price would indicate a potential upside of 23.84% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Ventum Financial increased their target price on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the company a “buy” rating in a research report on Wednesday. TD Securities increased their target price 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. CIBC reduced their target price on shares of European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Scotiabank raised their price objective 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 report on Wednesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$3.47.

European Residential Real Estate Investment Trust Stock Up 1.9 %

Shares of ERE.UN traded up C$0.06 on Thursday, reaching C$3.23. The company’s stock had a trading volume of 138,839 shares, compared to its average volume of 96,459. The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06. European Residential Real Estate Investment Trust has a twelve month low of C$2.12 and a twelve month high of C$3.27. The stock has a market capitalization of C$297.16 million, a PE ratio of 17.00 and a beta of 1.25. The firm has a fifty day moving average of C$2.73 and a 200-day moving average of C$2.47.

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.