Royal Bank of Canada Issues Pessimistic Forecast 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 lowered by stock analysts at Royal Bank of Canada from C$3.90 to C$2.60 in a note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price indicates a potential upside of 5.26% from the stock’s current price.

ERE.UN has been the subject of several other reports. CIBC dropped their price objective 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 research note on Wednesday, September 18th. TD Securities boosted their price objective 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 report on Tuesday, November 12th. Raymond James raised their target price on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a report on Thursday, September 19th. Scotiabank increased 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 upped their target price 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, September 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, European Residential Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of C$3.42.

European Residential Real Estate Investment Trust Stock Performance

Shares of TSE:ERE.UN remained flat at C$2.47 on Tuesday. 568,213 shares of the stock were exchanged, compared to its average volume of 1,199,228. The stock’s fifty day simple moving average is C$3.51 and its 200-day simple moving average is C$3.04. 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 company has a market capitalization of C$227.24 million, a price-to-earnings ratio of 13.00 and a beta of 1.28. European Residential Real Estate Investment Trust has a fifty-two week low of C$2.23 and a fifty-two week high of C$3.99.

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.