European Residential Real Estate Investment Trust (TSE:ERE.UN) Shares Down 2% – Here’s Why

European Residential Real Estate Investment Trust (TSE:ERE.UN)’s share price dropped 2% on Friday . The stock traded as low as C$2.40 and last traded at C$2.48. Approximately 1,591,304 shares were traded during mid-day trading, an increase of 333% from the average daily volume of 367,581 shares. The stock had previously closed at C$2.53.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ERE.UN. Raymond James lowered their target price on European Residential Real Estate Investment Trust from C$4.50 to C$3.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada dropped their price objective on shares of European Residential Real Estate Investment Trust from C$3.90 to C$2.60 in a report on Tuesday, January 7th. Finally, TD Securities downgraded shares of European Residential Real Estate Investment Trust from a “buy” rating to a “hold” rating and set a C$2.75 target price on the stock. in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$3.18.

European Residential Real Estate Investment Trust Trading Down 2.0 %

The business’s 50 day moving average is C$2.49 and its 200-day moving average is C$2.97. The firm has a market cap of C$228.16 million, a P/E ratio of 13.05 and a beta of 1.28. The company has a quick ratio of 0.20, a current ratio of 0.27 and a debt-to-equity ratio of 256.06.

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.