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

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its target price cut by 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 objective indicates a potential downside of 6.83% from the company’s current price.

Several other research firms have also weighed in on ERE.UN. Scotiabank upped their target price on European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the company a “sector perform” rating in a report on Wednesday. TD Securities increased their price objective on European Residential Real Estate Investment Trust from C$3.50 to C$3.75 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Ventum Financial increased their price objective on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Raymond James raised European Residential Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$2.75 to C$3.25 in a research note on Tuesday, July 16th. Three 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, European Residential Real Estate Investment Trust currently has an average rating of “Moderate Buy” and a consensus price target of C$3.47.

European Residential Real Estate Investment Trust Stock Up 1.6 %

European Residential Real Estate Investment Trust stock opened at C$3.22 on Wednesday. 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 firm has a market capitalization of C$296.24 million, a price-to-earnings ratio of 16.95 and a beta of 1.25. European Residential Real Estate Investment Trust has a fifty-two week low of C$2.12 and a fifty-two week high of C$3.27. The stock’s fifty day moving average is C$2.75 and its two-hundred day moving average is C$2.48.

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.