European Residential Real Estate Investment Trust (TSE:ERE.UN – Get Free Report) was upgraded by stock analysts at Echelon Wealth Partners from a “hold” rating to a “speculative buy” rating in a note issued to investors on Friday, BayStreet.CA reports. The firm currently has a C$3.00 price objective on the stock, down from their prior price objective of C$3.30. Echelon Wealth Partners’ price objective would suggest a potential upside of 25.52% from the company’s current price.
Other research analysts have also issued reports about the company. Royal Bank of Canada cut their price objective on European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 8th. Scotiabank upgraded European Residential Real Estate Investment Trust from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from C$4.00 to C$3.50 in a research note on Wednesday, November 8th. Raymond James lowered their target price on European Residential Real Estate Investment Trust from C$2.85 to C$2.75 and set a “market perform” rating on the stock in a research note on Friday. Cormark lowered their target price on European Residential Real Estate Investment Trust from C$4.15 to C$4.00 in a research note on Thursday, November 9th. Finally, Desjardins lowered their target price on 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 note on Friday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$3.19.
Check Out Our Latest Stock Analysis on European Residential Real Estate Investment Trust
European Residential Real Estate Investment Trust Stock Up 1.3 %
Shares of ERE.UN stock opened at C$2.39 on Friday. The stock’s 50-day simple moving average is C$2.46 and its 200-day simple moving average is C$2.41. The company has a debt-to-equity ratio of 266.13, a quick ratio of 0.20 and a current ratio of 0.28. The firm has a market capitalization of C$217.80 million, a PE ratio of -2.99 and a beta of 1.21. European Residential Real Estate Investment Trust has a fifty-two week low of C$2.12 and a fifty-two week high of C$3.72.
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.
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