European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target Lowered to C$1.00 at Royal Bank Of Canada

Key Points

• The Royal Bank of Canada has lowered its price target for European Residential Real Estate Investment Trust (TSE:ERE.UN) from C$2.45 to C$1.00, indicating a potential downside of 4.76%.
• Other analysts, including Cormark and TD Securities, have also reduced their price targets significantly, with an average consensus target price now at C$1.57.
• The stock currently trades at C$1.05, representing a decline from its recent highs, with a 12-month low of C$0.98 and a market capitalization of C$97.78 million.

European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) had its target price dropped by investment analysts at Royal Bank Of Canada from C$2.45 to C$1.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential downside of 4.76% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. Cormark reduced their price target on shares of European Residential Real Estate Investment Trust from C$2.90 to C$1.60 in a research note on Monday. TD Securities decreased their target price on shares of European Residential Real Estate Investment Trust from C$2.75 to C$1.25 and set a "hold" rating on the stock in a research note on Tuesday. Raymond James Financial cut European Residential Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and dropped their price target for the company from C$3.00 to C$2.75 in a research note on Wednesday, August 13th. Finally, CIBC reduced their price objective on 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 report on Monday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of C$1.57.

European Residential Real Estate Investment Trust Price Performance

Shares of ERE.UN stock traded down C$0.01 on Wednesday, hitting C$1.05. 1,063,594 shares of the company's stock were exchanged, compared to its average volume of 262,365. The company has a 50 day moving average of C$2.38 and a 200 day moving average of C$2.46. The stock has a market cap of C$97.78 million, a P/E ratio of -1.64 and a beta of 1.72. The company has a debt-to-equity ratio of 256.06, a current ratio of 0.27 and a quick ratio of 0.20. European Residential Real Estate Investment Trust has a 12 month low of C$0.98 and a 12 month high of C$3.99.

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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