European Residential Real Estate Investment Trust (TSE:ERE.UN) Rating Lowered to "Market Perform" at Raymond James Financial

Key Points

• Raymond James Financial has downgraded European Residential Real Estate Investment Trust (TSE:ERE.UN) from "outperform" to "market perform" with a new price target of C$2.75, indicating a decrease from the previous target of C$3.00.
• The stock experienced a slight decline of C$0.03 to C$2.42 during trading, with a market capitalization of C$222.64 million and notable debt-to-equity ratio of 256.06.
• Insider trading activity included the sale of 20,975 shares by Director Lisa Maureen Russell at an average price of C$2.52, contributing to a total of 23,799 shares sold over the last quarter.

European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) was downgraded by research analysts at Raymond James Financial from an "outperform" rating to a "market perform" rating in a report issued on Wednesday,BayStreet.CA reports. They currently have a C$2.75 price objective on the stock, down from their prior price objective of C$3.00. Raymond James Financial's target price points to a potential upside of 11.79% from the company's current price.

European Residential Real Estate Investment Trust Stock Up 1.2%

ERE.UN traded up C$0.03 during trading on Wednesday, hitting C$2.46. 139,245 shares of the company's stock traded hands, compared to its average volume of 253,248. The company's 50 day simple moving average is C$2.52 and its two-hundred day simple moving average is C$2.50. The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06. European Residential Real Estate Investment Trust has a 12-month low of C$2.24 and a 12-month high of C$3.99. The stock has a market capitalization of C$226.32 million, a price-to-earnings ratio of 12.95 and a beta of 1.28.

Insiders Place Their Bets

In other European Residential Real Estate Investment Trust news, Director Lisa Maureen Russell sold 20,975 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of C$2.52, for a total value of C$52,857.00. Insiders own 12.50% of the company's stock.

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.