European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Price Down 0.9% After Analyst Downgrade

Key Points

• The share price of European Residential Real Estate Investment Trust (TSE:ERE.UN) fell by 0.9% following a downgrade from Scotiabank, which lowered its price target from C$2.85 to C$1.25.
• Other analysts have also reduced their price targets, with Cormark adjusting theirs to C$1.60 and Royal Bank of Canada to C$1.00, resulting in a consensus target price of C$1.52.
• The company has a market capitalization of C$98.71 million and is Canada's only European-focused multi-residential REIT, primarily investing in the Netherlands.

European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report)'s share price was down 0.9% during mid-day trading on Monday after Scotiabank lowered their price target on the stock from C$2.85 to C$1.25. The stock traded as low as C$1.05 and last traded at C$1.06. Approximately 332,146 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 264,254 shares. The stock had previously closed at C$1.07.

A number of other research firms have also weighed in on ERE.UN. Cormark lowered their price target on shares of European Residential Real Estate Investment Trust from C$2.90 to C$1.60 in a report on Monday, September 29th. 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 report on Wednesday, August 13th. Royal Bank Of Canada lowered their price target on shares of European Residential Real Estate Investment Trust from C$2.45 to C$1.00 and set a "sector perform" rating for the company in a report on Wednesday, October 1st. TD Securities lowered their price target on shares of European Residential Real Estate Investment Trust from C$2.75 to C$1.25 and set a "hold" rating for the company in a report on Tuesday, September 30th. Finally, CIBC lowered 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 for the company in a report on Monday, September 29th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, European Residential Real Estate Investment Trust has a consensus rating of "Hold" and a consensus target price of C$1.52.

European Residential Real Estate Investment Trust Stock Performance

The company has a market capitalization of C$98.71 million, a price-to-earnings ratio of -1.66 and a beta of 1.61. 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 company's fifty day simple moving average is C$1.97 and its two-hundred day simple moving average is C$2.32.

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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