European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target Increased to C$3.50 by Analysts at CIBC

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target hoisted by CIBC from C$3.00 to C$3.50 in a research report sent to investors on Thursday morning, BayStreet.CA reports.

Several other equities analysts have also recently weighed in on the company. Raymond James raised European Residential Real Estate Investment Trust from a market perform rating to an outperform rating and lifted their target price for the company from C$2.75 to C$3.25 in a research note on Tuesday, July 16th. Ventum Financial upped their price objective on shares of European Residential Real Estate Investment Trust from C$3.00 to C$3.25 in a research note on Tuesday, July 16th. Scotiabank cut shares of European Residential Real Estate Investment Trust from an outperform rating to a sector perform rating and lowered their price target for the company from C$3.50 to C$3.00 in a report on Monday, May 6th. Finally, TD Securities increased their price objective on European Residential Real Estate Investment Trust from C$3.25 to C$3.50 and gave the stock a buy rating in a report on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, European Residential Real Estate Investment Trust has an average rating of Moderate Buy and a consensus target price of C$3.25.

European Residential Real Estate Investment Trust Stock Up 0.7 %

Shares of ERE.UN stock traded up C$0.02 on Thursday, reaching C$2.75. 30,260 shares of the company’s stock traded hands, compared to its average volume of 74,395. The company has a market capitalization of C$252.34 million, a P/E ratio of 27.30 and a beta of 1.26. European Residential Real Estate Investment Trust has a 12-month low of C$2.12 and a 12-month high of C$2.82. The company has a debt-to-equity ratio of 272.09, a quick ratio of 0.20 and a current ratio of 0.04. The business’s 50 day moving average price is C$2.47 and its two-hundred day moving average price is C$2.39.

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.