European Residential Real Estate Investment Trust (TSE:ERE.UN) Trading Down 3.1% – What’s Next?

European Residential Real Estate Investment Trust (TSE:ERE.UN)’s stock price was down 3.1% during mid-day trading on Monday . The company traded as low as C$2.45 and last traded at C$2.48. Approximately 784,907 shares changed hands during trading, an increase of 58% from the average daily volume of 495,278 shares. The stock had previously closed at C$2.56.

Analyst Upgrades and Downgrades

ERE.UN has been the topic of several recent research reports. TD Securities lifted their target price 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 report on Tuesday, November 12th. Raymond James lowered their target price on European Residential Real Estate Investment Trust from C$4.50 to C$3.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada reduced their price target on European Residential Real Estate Investment Trust from C$3.90 to C$2.60 in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$3.29.

European Residential Real Estate Investment Trust Stock Performance

The company has a 50-day moving average of C$2.90 and a 200-day moving average of C$3.03. The firm has a market capitalization of C$228.16 million, a price-to-earnings ratio of 13.05 and a beta of 1.28. The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06.

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.