European Residential Real Estate Investment Trust (TSE:ERE.UN) PT Lowered to C$3.00 at CIBC

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price objective lowered by CIBC from C$3.50 to C$3.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Scotiabank increased their price target on shares of European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the stock a sector perform rating in a report on Wednesday. Raymond James raised shares of European Residential Real Estate Investment Trust from a market perform rating to an outperform rating and increased their target price for the company from C$2.75 to C$3.25 in a report on Tuesday, July 16th. Ventum Financial increased 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 report on Wednesday. Finally, TD Securities increased their target price on shares of European Residential Real Estate Investment Trust from C$3.50 to C$3.75 and gave the company a buy rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of C$3.47.

European Residential Real Estate Investment Trust Price Performance

Shares of TSE:ERE.UN opened at C$3.23 on Wednesday. The company’s fifty day moving average price is C$2.76 and its 200-day moving average price is C$2.48. The firm has a market capitalization of C$297.16 million, a price-to-earnings ratio of 17.00 and a beta of 1.25. European Residential Real Estate Investment Trust has a one year low of C$2.12 and a one year high of C$3.28. The company has a debt-to-equity ratio of 256.06, a current ratio of 0.27 and a quick ratio of 0.20.

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.