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

European Residential Real Estate Investment Trust logo with background

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.
  • MarketBeat previews the top five stocks to own by October 1st.

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.

Read Our Latest Research Report on European Residential Real Estate Investment Trust

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

(Get Free Report)

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.

Further Reading

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