European Residential Real Estate Investment Trust (TSE:ERE.UN) Receives C$3.58 Consensus Target Price from Brokerages

European Residential Real Estate Investment Trust (TSE:ERE.UN) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$3.58.

A number of equities research analysts recently weighed in on the company. Scotiabank upped their price objective on 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, September 18th. Ventum Financial lifted their price target on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada increased their price objective on shares of European Residential Real Estate Investment Trust from C$2.50 to C$3.90 in a research report on Friday, November 8th. Raymond James boosted their target price on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a research report on Thursday, September 19th. Finally, CIBC lowered their price objective 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 note on Wednesday, September 18th.

European Residential Real Estate Investment Trust Stock Down 35.5 %

European Residential Real Estate Investment Trust stock opened at C$2.45 on Tuesday. The business has a fifty day moving average of C$3.53 and a two-hundred day moving average of C$3.03. The company has a quick ratio of 0.20, a current ratio of 0.27 and a debt-to-equity ratio of 256.06. The firm has a market cap of C$225.40 million, a P/E ratio of 12.89 and a beta of 1.28. European Residential Real Estate Investment Trust has a twelve month low of C$2.23 and a twelve month high of C$3.99.

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.