Scotiabank Lowers European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target to C$1.25

Key Points

• Scotiabank has lowered the target price for the European Residential Real Estate Investment Trust (TSE:ERE.UN) from C$2.85 to C$1.25, indicating a potential upside of 16.82% from the previous closing price.
• Other analysts have also reduced their price targets, with Cormark lowering it to C$1.60 and TD Securities to C$1.25, reflecting a broader trend of decreased valuations for the company.
• As of the latest trading, shares of ERE.UN increased by 3.9%, reaching C$1.07, while the stock has faced significant price volatility over the past year, with a 52-week range between C$0.98 and C$3.99.

European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) had its target price reduced by investment analysts at Scotiabank from C$2.85 to C$1.25 in a note issued to investors on Friday,BayStreet.CA reports. Scotiabank's price target would suggest a potential upside of 16.82% from the company's previous close.

ERE.UN has been the subject of a number of other research reports. Cormark lowered their price objective on shares of European Residential Real Estate Investment Trust from C$2.90 to C$1.60 in a research report on Monday, September 29th. Raymond James Financial cut European Residential Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and cut their price objective for the company from C$3.00 to C$2.75 in a report on Wednesday, August 13th. TD Securities cut their price objective on European Residential Real Estate Investment Trust from C$2.75 to C$1.25 and set a "hold" rating on the stock in a report on Tuesday, September 30th. CIBC dropped their target price on shares of European Residential Real Estate Investment Trust from C$3.00 to C$1.25 and set an "outperform" rating on the stock in a report on Monday, September 29th. Finally, Royal Bank Of Canada lowered their price objective 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 research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, European Residential Real Estate Investment Trust presently has a consensus rating of "Hold" and a consensus price target of C$1.52.

European Residential Real Estate Investment Trust Stock Up 3.9%

Shares of ERE.UN traded up C$0.04 during trading hours on Friday, hitting C$1.07. 482,745 shares of the company were exchanged, compared to its average volume of 263,914. The company has a market cap of C$99.64 million, a PE ratio of -1.67 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 firm's 50 day moving average is C$2.02 and its 200-day moving average is C$2.34. European Residential Real Estate Investment Trust has a 52 week low of C$0.98 and a 52 week 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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