European Residential Real Estate Investment Trust (TSE:ERE.UN) Shares Up 0.4% - Should You Buy?

Key Points

• The stock price of European Residential Real Estate Investment Trust (TSE:ERE.UN) increased by 0.4% to C$2.43, with a notable decline in trading volume, down 71% from its average daily volume.
• Raymond James Financial downgraded the stock's rating from "outperform" to "market perform" and adjusted the price target from C$3.00 to C$2.75, suggesting a more cautious outlook.
• The company has a market capitalization of C$226.28 million and a high debt-to-equity ratio of 256.06, indicating a significant reliance on debt financing.

European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report)'s share price shot up 0.4% during mid-day trading on Friday . The company traded as high as C$2.44 and last traded at C$2.43. 72,019 shares were traded during trading, a decline of 71% from the average session volume of 244,266 shares. The stock had previously closed at C$2.42.

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 price objective for the company from C$3.00 to C$2.75 in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, European Residential Real Estate Investment Trust currently has an average rating of "Hold" and an average target price of C$3.14.

European Residential Real Estate Investment Trust Trading Up 0.4%

The firm has a fifty day simple moving average of C$2.50 and a 200-day simple moving average of C$2.50. The firm has a market cap of C$227.22 million, a P/E ratio of -3.82 and a beta of 1.84. 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 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.