European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target Cut to C$3.00

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target reduced by equities research analysts at CIBC from C$3.50 to C$3.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target points to a potential downside of 4.15% from the company’s current price.

A number of other brokerages also recently issued reports on ERE.UN. Ventum Financial raised 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. TD Securities raised their price target on shares of European Residential Real Estate Investment Trust from C$3.50 to C$3.75 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Raymond James upgraded shares of European Residential Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$2.75 to C$3.25 in a report on Tuesday, July 16th. Finally, Scotiabank increased 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 research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$3.39.

European Residential Real Estate Investment Trust Trading Up 2.6 %

Shares of TSE ERE.UN traded up C$0.08 during midday trading on Wednesday, reaching C$3.13. 818,395 shares of the stock were exchanged, compared to its average volume of 92,954. The company has a 50 day simple moving average of C$2.71 and a 200 day simple moving average of C$2.46. The stock has a market capitalization of C$287.96 million, a P/E ratio of 16.47 and a beta of 1.25. 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 has a twelve month low of C$2.12 and a twelve month high of C$3.27.

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.