Cormark Cuts European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target to C$1.60

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its target price decreased by Cormark from C$2.90 to C$1.60 in a research note issued to investors on Monday morning,BayStreet.CA reports.

A number of other analysts also recently commented on the company. CIBC reduced their price objective on European Residential Real Estate Investment Trust from C$3.00 to C$1.25 and set an “outperform” rating for the company in a research report on Monday. Raymond James Financial downgraded European Residential Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from C$3.00 to C$2.75 in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$1.57.

European Residential Real Estate Investment Trust Stock Performance

ERE.UN opened at C$1.06 on Monday. The firm has a market capitalization of C$98.71 million, a P/E ratio of -1.66 and a beta of 1.72. The stock’s 50 day moving average price is C$2.35 and its two-hundred day moving average price is C$2.46. The company has a quick ratio of 0.20, a current ratio of 0.27 and a debt-to-equity ratio of 256.06. European Residential Real Estate Investment Trust has a 12-month low of C$0.98 and a 12-month high of C$3.99.

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.