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

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 equities researchers at Raymond James Financial from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors 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 13.64% from the stock's current price.

European Residential Real Estate Investment Trust Price Performance

Shares of ERE.UN traded down C$0.03 during trading hours on Wednesday, hitting C$2.42. 130,064 shares of the stock were exchanged, compared to its average volume of 255,935. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27. 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 company has a market cap of C$222.64 million, a price-to-earnings ratio of 12.74 and a beta of 1.28. The stock's 50-day moving average price is C$2.53 and its two-hundred day moving average price is C$2.50.

Insider Activity at European Residential Real Estate Investment Trust

In related news, Director Lisa Maureen Russell sold 20,975 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of C$2.52, for a total transaction of C$52,857.00. Over the last quarter, insiders sold 23,799 shares of company stock valued at $59,995. Corporate insiders own 12.50% of the company's stock.

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.

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