European Residential Real Estate Investment Trust (TSE:ERE.UN) Downgraded by Scotiabank

European Residential Real Estate Investment Trust (TSE:ERE.UN) was downgraded by investment analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Monday, BayStreet.CA reports. They presently have a C$3.00 price objective on the stock, down from their previous price objective of C$3.50. Scotiabank’s price target would indicate a potential upside of 28.76% from the stock’s previous close.

Several other research analysts have also commented on the company. Echelon Wealth Partners raised European Residential Real Estate Investment Trust from a “hold” rating to a “speculative buy” rating and cut their price objective for the company from C$3.30 to C$3.00 in a research report on Friday, February 23rd. Desjardins dropped their target price on European Residential Real Estate Investment Trust from C$3.00 to C$2.75 and set a “hold” rating on the stock in a report on Friday, February 23rd. Finally, Raymond James decreased their price target on 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 report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, European Residential Real Estate Investment Trust presently has a consensus rating of “Hold” and an average target price of C$3.14.

European Residential Real Estate Investment Trust Trading Down 0.4 %

ERE.UN traded down C$0.01 on Monday, reaching C$2.33. 224,105 shares of the company’s stock were exchanged, compared to its average volume of 55,884. The company’s 50 day moving average is C$2.35 and its 200-day moving average is C$2.38. European Residential Real Estate Investment Trust has a twelve month low of C$2.12 and a twelve month high of C$3.38. The company has a debt-to-equity ratio of 290.94, a quick ratio of 0.20 and a current ratio of 0.09. The company has a market cap of C$213.13 million, a price-to-earnings ratio of -3.24 and a beta of 1.21.

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.