Royal Bank of Canada Cuts European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target to C$2.60

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target trimmed by Royal Bank of Canada from C$3.90 to C$2.60 in a research note issued to investors on Tuesday,BayStreet.CA reports.

Several other equities analysts also recently issued reports on the stock. Raymond James upped 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. Scotiabank lifted their price objective 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 research report on Wednesday, September 18th. 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 on the stock in a research report on Wednesday, September 18th. Ventum Financial raised their price target 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 note on Wednesday, September 18th. Finally, TD Securities upped their price objective 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 research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, European Residential Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and an average price target of C$3.29.

European Residential Real Estate Investment Trust Stock Performance

TSE:ERE.UN opened at C$2.41 on Tuesday. European Residential Real Estate Investment Trust has a twelve month low of C$2.23 and a twelve month high of C$3.99. The company has a market capitalization of C$221.72 million, a P/E ratio of 12.68 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. The firm has a 50-day moving average price of C$3.47 and a two-hundred day moving average price of 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.