European Residential Real Estate Investment Trust (TSE:ERE.UN) Shares Up 0.9% - Here's What Happened

Key Points

• Shares rose 0.9% to C$1.18 on Friday, with 157,064 shares traded—about 16% below the average session volume.
• Analysts have an average rating of Reduce (three Holds, one Sell) and a consensus target of C$1.56; recent broker moves include TD cutting its target to C$1.19 and Desjardins downgrading to "tender" while raising its target to C$1.90.
• Fundamentals show high leverage and weak liquidity (debt-to-equity 256.06, current ratio 0.27) and a negative trailing EPS (C($0.12)); the REIT has a market cap of C$109.87M and owns 137 multi-residential properties (5,865 suites) mainly in the Netherlands.

Shares of European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) shot up 0.9% on Friday . The stock traded as high as C$1.18 and last traded at C$1.18. 157,064 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 186,887 shares. The stock had previously closed at C$1.17.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ERE.UN. TD Securities decreased their target price on shares of European Residential Real Estate Investment Trust from C$1.25 to C$1.19 and set a "sell" rating for the company in a research note on Wednesday, March 4th. Desjardins downgraded shares of European Residential Real Estate Investment Trust from a "hold" rating to a "tender" rating and upped their target price for the company from C$1.20 to C$1.90 in a research note on Wednesday, March 4th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of C$1.56.

European Residential Real Estate Investment Trust Stock Up 0.9%

The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06. The stock has a market capitalization of C$109.87 million, a P/E ratio of -3.92 and a beta of 0.91. The stock's 50 day simple moving average is C$1.16 and its 200 day simple moving average is C$1.13.

European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported C($0.12) EPS for the quarter. European Residential Real Estate Investment Trust had a net margin of 29.74% and a return on equity of 6.43%. The company had revenue of C$6.70 million for the quarter. As a group, research analysts predict that European Residential Real Estate Investment Trust will post 0.1190476 EPS for the current fiscal year.

European Residential Real Estate Investment Trust Company Profile

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. ERES owns a portfolio of 137 multi-residential properties, comprised of 5,865 suites and ancillary retail space located in the Netherlands, and owns one office property in Germany and one office property in Belgium.

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