Royal Bank of Canada Issues Positive Forecast for European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Price

by · The Markets Daily

European Residential Real Estate Investment Trust (TSE:ERE.UN – Get Free Report) had its target price raised by analysts at Royal Bank of Canada from C$2.50 to C$3.90 in a note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 11.43% from the company’s current price.

A number of other equities research analysts have also recently issued reports on ERE.UN. Raymond James boosted their target price on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a research report on Thursday, September 19th. Ventum Financial upped their target price on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. TD Securities boosted their price target 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 research note on Wednesday, September 4th. Scotiabank boosted their price objective on European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the stock a “sector perform” rating in a research report on Wednesday, September 18th. Finally, CIBC cut their price objective on shares of European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set an “outperform” rating for the company in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$3.57.

Read Our Latest Stock Report on European Residential Real Estate Investment Trust

European Residential Real Estate Investment Trust Stock Down 3.8 %

TSE ERE.UN traded down C$0.14 on Friday, reaching C$3.50. The company had a trading volume of 245,767 shares, compared to its average volume of 128,999. The firm has a market capitalization of C$322 million, a price-to-earnings ratio of 18.42 and a beta of 1.28. European Residential Real Estate Investment Trust has a 1-year low of C$2.17 and a 1-year high of C$3.65. The company’s fifty day moving average is C$3.08 and its 200-day moving average is C$2.67. 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

(Get Free Report)

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.

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