European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Rating Lowered by Scotiabank

European Residential Real Estate Investment Trust (TSE:ERE.UN - Get Free Report) was downgraded by investment analysts at Scotiabank from an "outperform" rating to a "sector perform" rating in a research report issued on Monday, BayStreet.CA reports. They presently have a C$3.00 target price on the stock, down from their prior target price of C$3.50. Scotiabank's price objective would indicate a potential upside of 29.31% from the company's previous close.

Several other brokerages have also recently issued reports on ERE.UN. Echelon Wealth Partners raised European Residential Real Estate Investment Trust from a "hold" rating to a "speculative buy" rating and reduced their price objective for the stock from C$3.30 to C$3.00 in a report on Friday, February 23rd. Desjardins lowered their price objective on shares of European Residential Real Estate Investment Trust from C$3.00 to C$2.75 and set a "hold" rating on the stock in a research note on Friday, February 23rd. Finally, Raymond James cut their target price on shares of European Residential Real Estate Investment Trust from C$2.85 to C$2.75 and set a "market perform" rating for the company in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of C$3.14.

European Residential Real Estate Investment Trust Price Performance

European Residential Real Estate Investment Trust stock traded down C$0.02 during mid-day trading on Monday, reaching C$2.32. The company had a trading volume of 240,741 shares, compared to its average volume of 56,073. The stock's 50-day simple moving average is C$2.35 and its 200-day simple moving average is C$2.38. The company has a market capitalization of C$212.21 million, a P/E ratio of -3.22 and a beta of 1.21. The company has a debt-to-equity ratio of 290.94, a current ratio of 0.09 and a quick ratio of 0.20. European Residential Real Estate Investment Trust has a 1 year low of C$2.12 and a 1 year high of C$3.38.

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.