European Residential Real Estate Investment Trust (TSE:ERE.UN) Given New C$1.25 Price Target at CIBC

Key Points

• CIBC has reduced the target price for European Residential Real Estate Investment Trust (TSE:ERE.UN) from C$3.00 to C$1.25, while maintaining an "outperform" rating.
• Raymond James Financial also downgraded the stock from "outperform" to "market perform" with a new target price of C$2.75.
• The stock is currently trading at C$1.07, which represents a potential upside of 16.82% from CIBC's revised price target.

European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) had its target price decreased by equities research analysts at CIBC from C$3.00 to C$1.25 in a report released on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. CIBC's target price points to a potential upside of 16.82% from the stock's previous close.

Separately, Raymond James Financial lowered shares of European Residential Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and lowered their price target for the company from C$3.00 to C$2.75 in a research report on Wednesday, August 13th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of C$2.19.

European Residential Real Estate Investment Trust Stock Performance

ERE.UN traded up C$0.06 during midday trading on Monday, reaching C$1.07. The company had a trading volume of 1,079,239 shares, compared to its average volume of 254,783. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27. The stock has a market cap of C$99.64 million, a PE ratio of -1.67 and a beta of 1.72. European Residential Real Estate Investment Trust has a 12-month low of C$0.98 and a 12-month high of C$3.99. The business has a 50-day moving average price of C$2.44 and a two-hundred day moving average price of C$2.48.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.