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

Key Points

• TD Securities has lowered the price target for European Residential Real Estate Investment Trust (TSE:ERE.UN) from C$2.75 to C$1.25, maintaining a "hold" rating. This implies a potential upside of 16.82% from the current price.
• Several brokerages have also reduced their price targets, with CIBC setting a target of C$1.25 and an "outperform" rating, while Raymond James downgraded from "outperform" to "market perform."
• Currently, ERE.UN has a market cap of C$99.64 million and a consensus rating of "Hold," with a consensus price target of C$1.89.

European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) had its price target lowered by stock analysts at TD Securities from C$2.75 to C$1.25 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. TD Securities' target price points to a potential upside of 16.82% from the company's current price.

Several other brokerages have also commented on ERE.UN. CIBC dropped their price target on shares of European Residential Real Estate Investment Trust from C$3.00 to C$1.25 and set an "outperform" rating on the stock in a research note on Monday. 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 objective for the company from C$3.00 to C$2.75 in a research report on Wednesday, August 13th. Finally, Cormark lowered their price objective on shares of European Residential Real Estate Investment Trust from C$2.90 to C$1.60 in a research report on Monday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, European Residential Real Estate Investment Trust presently has a consensus rating of "Hold" and a consensus price target of C$1.89.

European Residential Real Estate Investment Trust Stock Down 0.9%

Shares of ERE.UN traded down C$0.01 during mid-day trading on Tuesday, hitting C$1.07. 546,568 shares of the company's stock were exchanged, compared to its average volume of 257,624. The company has a market cap of C$99.64 million, a price-to-earnings ratio of -1.67 and a beta of 1.72. European Residential Real Estate Investment Trust has a fifty-two week low of C$0.98 and a fifty-two week high of C$3.99. 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's 50-day moving average is C$2.41 and its 200-day moving average is C$2.47.

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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