Royal Bank Of Canada Lowers European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target to C$1.00

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price objective trimmed by Royal Bank Of Canada from C$2.45 to C$1.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other brokerages have also commented on ERE.UN. TD Securities decreased 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 on the stock in a research note on Tuesday. Cormark decreased their target price 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 lowered shares of European Residential Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$3.00 to C$2.75 in a research report on Wednesday, August 13th. Finally, CIBC decreased 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 research report on Monday, September 29th. One 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 currently has an average rating of “Hold” and an average price target of C$1.57.

European Residential Real Estate Investment Trust Stock Up 4.9%

Shares of ERE.UN opened at C$1.07 on Wednesday. European Residential Real Estate Investment Trust has a 52 week low of C$0.98 and a 52 week high of C$3.99. The firm has a market cap of C$99.64 million, a P/E ratio of -1.67 and a beta of 1.72. The firm’s 50-day simple moving average is C$2.29 and its 200 day simple moving average is C$2.43. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27.

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.