Royal Bank of Canada Has Lowered Expectations for European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Price

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target lowered by analysts at Royal Bank of Canada from C$3.90 to C$2.60 in a note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price would suggest a potential upside of 6.56% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Ventum Financial upped their price target on 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, September 18th. Raymond James upped their target price on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a report on Thursday, September 19th. Scotiabank lifted their price target on shares of European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the company a “sector perform” rating in a report on Wednesday, September 18th. TD Securities boosted their price target on shares of European Residential Real Estate Investment Trust from C$3.75 to C$4.25 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, CIBC dropped 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 report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, European Residential Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and an average price target of C$3.29.

European Residential Real Estate Investment Trust Price Performance

Shares of European Residential Real Estate Investment Trust stock opened at C$2.44 on Tuesday. European Residential Real Estate Investment Trust has a twelve month low of C$2.23 and a twelve month high of C$3.99. The firm has a market cap of C$224.48 million, a P/E ratio of 12.84 and a beta of 1.28. The firm’s 50-day simple moving average is C$3.48 and its 200-day simple moving average is C$3.04. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27.

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.