Scotiabank Downgrades European Residential Real Estate Investment Trust (TSE:ERE.UN) to Sector Perform

European Residential Real Estate Investment Trust (TSE:ERE.UN) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a report released on Monday, BayStreet.CA reports. They currently have a C$3.00 target price on the stock, down from their prior target price of C$3.50. Scotiabank’s price objective indicates a potential upside of 29.31% from the company’s previous close.

A number of other brokerages have also recently commented on ERE.UN. Raymond James lowered their price target on European Residential Real Estate Investment Trust from C$2.85 to C$2.75 and set a “market perform” rating for the company in a research note on Friday, February 23rd. Desjardins reduced their price target on shares of European Residential Real Estate Investment Trust from C$3.00 to C$2.75 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Finally, Echelon Wealth Partners upgraded shares of European Residential Real Estate Investment Trust from a “hold” rating to a “speculative buy” rating and lowered their price objective for the company from C$3.30 to C$3.00 in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, European Residential Real Estate Investment Trust presently has an average rating of “Hold” and a consensus price target of C$3.14.

European Residential Real Estate Investment Trust Price Performance

Shares of European Residential Real Estate Investment Trust stock opened at C$2.32 on Monday. European Residential Real Estate Investment Trust has a 12 month low of C$2.12 and a 12 month high of C$3.38. The business has a fifty day simple moving average of C$2.35 and a 200 day simple moving average of C$2.38. The company has a quick ratio of 0.20, a current ratio of 0.09 and a debt-to-equity ratio of 290.94. The stock has a market cap of C$212.21 million, a PE ratio of -3.22 and a beta of 1.21.

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.