Raymond James 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 target decreased by Raymond James from C$4.50 to C$3.00 in a report published on Wednesday,BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

Several other equities analysts also recently weighed in on the company. TD Securities raised their price target on European Residential Real Estate Investment Trust from C$3.75 to C$4.25 and gave the company a “buy” rating in a report on Tuesday, November 12th. CIBC cut their price target on shares of European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set an “outperform” rating on the stock in a report on Wednesday, September 18th. Ventum Financial boosted their price objective 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 cut their target price on European Residential Real Estate Investment Trust from C$3.90 to C$2.60 in a research note on Tuesday. Finally, Scotiabank boosted their price target 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$3.29.

European Residential Real Estate Investment Trust Price Performance

ERE.UN stock opened at C$2.33 on Wednesday. The firm has a 50-day moving average of C$3.45 and a 200 day moving average of C$3.04. 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 company has a market cap of C$214.36 million, a P/E ratio of 12.26 and a beta of 1.28. European Residential Real Estate Investment Trust has a 1 year low of C$2.23 and a 1 year high of C$3.99.

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.