Royal Bank of Canada Cuts European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target to C$2.60

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target trimmed by Royal Bank of Canada from C$3.90 to C$2.60 in a report issued on Tuesday morning,BayStreet.CA reports.

ERE.UN has been the topic of several other research reports. TD Securities boosted their price objective on European Residential Real Estate Investment Trust from C$3.75 to C$4.25 and gave the stock a “buy” rating in a report on Tuesday, November 12th. CIBC dropped their price target on European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. Raymond James increased their price objective on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a research note on Thursday, September 19th. Scotiabank lifted their target price on European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the company a “sector perform” rating in a research note on Wednesday, September 18th. Finally, Ventum Financial lifted their target price on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, European Residential Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of C$3.29.

European Residential Real Estate Investment Trust Stock Down 1.2 %

Shares of ERE.UN stock opened at C$2.41 on Tuesday. European Residential Real Estate Investment Trust has a 1 year low of C$2.23 and a 1 year high of C$3.99. The stock has a market cap of C$221.72 million, a PE ratio of 12.68 and a beta of 1.28. The business’s fifty day moving average is C$3.47 and its 200-day moving average is C$3.04. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27.

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.