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 cut by research analysts at Royal Bank of Canada from C$3.90 to C$2.60 in a research note issued on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 6.56% from the stock’s current price.

A number of other research analysts have also commented on ERE.UN. Ventum Financial raised 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 report on Wednesday, September 18th. Scotiabank raised their target price 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 research note on Wednesday, September 18th. TD Securities upped their price target 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. Raymond James raised their price objective on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a research note on Thursday, September 19th. Finally, CIBC cut their target price on 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 report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, European Residential Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of C$3.29.

European Residential Real Estate Investment Trust Stock Performance

ERE.UN stock opened at C$2.44 on Tuesday. European Residential Real Estate Investment Trust has a 1 year low of C$2.23 and a 1 year high of C$3.99. The stock has a market capitalization of C$224.48 million, a price-to-earnings ratio of 12.84 and a beta of 1.28. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27. The stock’s fifty day moving average is C$3.48 and its two-hundred day moving average is C$3.04.

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.