European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Price Down 0.8% - What's Next?

Key Points

• Shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) fell by 0.8% during trading, closing at C$2.45 after earlier dropping to C$2.35.
• Raymond James Financial downgraded the stock from an "outperform" to a "market perform" rating, lowering the target price from C$3.00 to C$2.75.
• With a market capitalization of C$228.15 million, the company has a significant debt-to-equity ratio of 256.06 and a current ratio of 0.27.

Shares of European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) were down 0.8% during mid-day trading on Monday . The stock traded as low as C$2.35 and last traded at C$2.45. Approximately 95,005 shares changed hands during trading, a decline of 59% from the average daily volume of 232,975 shares. The stock had previously closed at C$2.47.

Analyst Ratings Changes

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 target price for the company from C$3.00 to C$2.75 in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of C$2.70.

European Residential Real Estate Investment Trust Price Performance

The company has a market capitalization of C$228.15 million, a PE ratio of -3.83 and a beta of 1.72. The stock's 50-day moving average is C$2.48 and its two-hundred day moving average is C$2.50. The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06.

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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