European Residential Real Estate Investment Trust (TSE:ERE.UN) Given New C$1.60 Price Target at Cormark

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target dropped by stock analysts at Cormark from C$2.90 to C$1.60 in a research note issued on Monday,BayStreet.CA reports. Cormark’s price objective indicates a potential upside of 49.53% from the company’s previous close.

Other analysts have also issued research reports about the company. Raymond James Financial lowered European Residential Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$3.00 to C$2.75 in a report on Wednesday, August 13th. CIBC decreased their price target on European Residential Real Estate Investment Trust from C$3.00 to C$1.25 and set an “outperform” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, European Residential Real Estate Investment Trust presently has an average rating of “Hold” and a consensus target price of C$2.19.

European Residential Real Estate Investment Trust Stock Performance

Shares of TSE:ERE.UN traded up C$0.06 during trading on Monday, hitting C$1.07. 1,079,239 shares of the stock were exchanged, compared to its average volume of 254,783. European Residential Real Estate Investment Trust has a 1-year low of C$0.98 and a 1-year high of C$3.99. The company has a market capitalization of C$99.64 million, a price-to-earnings ratio of -1.67 and a beta of 1.72. The company’s fifty day simple moving average is C$2.44 and its 200-day simple moving average is C$2.48. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27.

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.