European Residential Real Estate Investment Trust (TSE:ERE.UN) Receives C$3.58 Average Price Target from Brokerages

European Residential Real Estate Investment Trust (TSE:ERE.UN) has earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$3.58.

Several brokerages have recently commented on ERE.UN. Scotiabank raised 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. TD Securities lifted their price target on European Residential Real Estate Investment Trust from C$3.75 to C$4.25 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada boosted their price objective on European Residential Real Estate Investment Trust from C$2.50 to C$3.90 in a report on Friday, November 8th. Raymond James raised their target price on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a report on Thursday, September 19th. Finally, CIBC cut their target price 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.

European Residential Real Estate Investment Trust Price Performance

Shares of TSE ERE.UN opened at C$3.72 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.27 and a debt-to-equity ratio of 256.06. The firm has a market cap of C$342.24 million, a PE ratio of 19.58 and a beta of 1.28. The company’s fifty day simple moving average is C$3.37 and its 200 day simple moving average is C$2.89. European Residential Real Estate Investment Trust has a 12-month low of C$2.23 and a 12-month high of C$3.83.

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.