European Residential Real Estate Investment Trust (TSE:ERE.UN) Trading Down 0.5% – Here’s What Happened

European Residential Real Estate Investment Trust (TSE:ERE.UN) shares dropped 0.5% on Friday . The company traded as low as C$3.77 and last traded at C$3.82. Approximately 272,038 shares were traded during mid-day trading, an increase of 59% from the average daily volume of 171,136 shares. The stock had previously closed at C$3.84.

Wall Street Analyst Weigh In

ERE.UN has been the topic of a number of research reports. 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 on the stock in a research note on Wednesday, September 18th. TD Securities raised their price objective on shares of European Residential Real Estate Investment Trust from C$3.75 to C$4.25 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Scotiabank lifted 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 report on Wednesday, September 18th. Ventum Financial increased their target price on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Raymond James boosted their price target on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$3.58.

European Residential Real Estate Investment Trust Stock Performance

The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06. The firm has a market cap of C$351.44 million, a PE ratio of 20.11 and a beta of 1.28. The stock’s 50 day moving average price is C$3.50 and its 200 day moving average price is C$3.00.

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.