Raymond James 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 objective cut by analysts at Raymond James from C$4.50 to C$3.00 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 24.48% from the stock’s current price.

A number of other research analysts have also weighed in on ERE.UN. CIBC reduced 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 report on Wednesday, September 18th. Royal Bank of Canada decreased their target price on shares of European Residential Real Estate Investment Trust from C$3.90 to C$2.60 in a report on Tuesday. TD Securities increased their target price 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 boosted their price target 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 report on Wednesday, September 18th. Finally, Ventum Financial increased their price objective on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$3.29.

European Residential Real Estate Investment Trust Trading Down 1.2 %

Shares of ERE.UN stock opened at C$2.41 on Wednesday. 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 company’s fifty day simple moving average is C$3.47 and its two-hundred day simple moving average is 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 stock has a market capitalization of C$221.72 million, a price-to-earnings ratio of 12.68 and a beta of 1.28.

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.