Brokerages Set European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target at C$3.20

Shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$3.25.

ERE.UN has been the topic of a number of research analyst reports. Ventum Financial boosted their price target on European Residential Real Estate Investment Trust from C$3.00 to C$3.25 in a report on Tuesday, July 16th. TD Securities lifted their target price 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. Scotiabank lowered European Residential Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from C$3.50 to C$3.00 in a research note on Monday, May 6th. CIBC lifted their price objective on European Residential Real Estate Investment Trust from C$3.00 to C$3.50 in a research note on Thursday. Finally, Raymond James raised shares of European Residential Real Estate Investment Trust from a “market perform” rating to an “outperform” rating and raised their target price for the company from C$2.75 to C$3.25 in a report on Tuesday, July 16th.

European Residential Real Estate Investment Trust Price Performance

ERE.UN stock traded up C$0.02 during trading on Friday, reaching C$2.75. The company’s stock had a trading volume of 30,260 shares, compared to its average volume of 74,395. The company’s fifty day moving average is C$2.47 and its 200-day moving average is C$2.39. European Residential Real Estate Investment Trust has a 1 year low of C$2.12 and a 1 year high of C$2.82. The company has a market capitalization of C$252.34 million, a P/E ratio of 27.50 and a beta of 1.26. The company has a quick ratio of 0.20, a current ratio of 0.04 and a debt-to-equity ratio of 272.09.

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.