European Residential Real Estate Investment Trust (TSE:ERE.UN) Cut to Tender at Desjardins

Desjardins cut shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) from a hold rating to a tender rating in a research note published on Wednesday,BayStreet.CA reports. Desjardins currently has C$1.90 price objective on the stock, up from their previous price objective of C$1.20.

ERE.UN has been the subject of several other research reports. TD Securities dropped their price objective on shares of European Residential Real Estate Investment Trust from C$1.25 to C$1.19 and set a “sell” rating for the company in a report on Wednesday. Canadian Imperial Bank of Commerce downgraded European Residential Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a report on Friday, November 7th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, European Residential Real Estate Investment Trust currently has a consensus rating of “Reduce” and an average price target of C$1.56.

European Residential Real Estate Investment Trust Price Performance

TSE:ERE.UN opened at C$1.16 on Wednesday. The company has a debt-to-equity ratio of 256.06, a current ratio of 0.27 and a quick ratio of 0.20. The company has a fifty day moving average price of C$1.16 and a 200 day moving average price of C$1.38. European Residential Real Estate Investment Trust has a one year low of C$0.98 and a one year high of C$2.64. The stock has a market cap of C$108.00 million, a P/E ratio of -3.85 and a beta of 1.17.

European Residential Real Estate Investment Trust (TSE:ERE.UN) last issued its quarterly earnings results on Wednesday, February 11th. The company reported C($0.12) earnings per share (EPS) for the quarter. The firm had revenue of C$6.70 million for the quarter. European Residential Real Estate Investment Trust had a net margin of 29.74% and a return on equity of 6.43%. Analysts anticipate that European Residential Real Estate Investment Trust will post 0.1190476 earnings per share for the current year.

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. ERES owns a portfolio of 137 multi-residential properties, comprised of 5,865 suites and ancillary retail space located in the Netherlands, and owns one office property in Germany and one office property in Belgium.