European Residential Real Estate Investment Trust (TSE:ERE.UN) Downgraded to “Neutral” Rating by CIBC

European Residential Real Estate Investment Trust (TSE:ERE.UN) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a research report issued on Friday,BayStreet.CA reports.

A number of other research firms have also weighed in on ERE.UN. TD Securities lowered their price objective on shares of European Residential Real Estate Investment Trust from C$2.75 to C$1.25 and set a “hold” rating on the stock in a research report on Tuesday, September 30th. Royal Bank Of Canada dropped their price target on shares of European Residential Real Estate Investment Trust from C$2.45 to C$1.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 1st. Scotiabank cut their price target on shares of European Residential Real Estate Investment Trust from C$2.85 to C$1.25 in a report on Friday, October 17th. Raymond James Financial lowered European Residential Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from C$3.00 to C$2.75 in a report on Wednesday, August 13th. Finally, Cormark cut their target price on European Residential Real Estate Investment Trust from C$2.90 to C$1.60 in a research note on Monday, September 29th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$1.52.

European Residential Real Estate Investment Trust Stock Performance

European Residential Real Estate Investment Trust stock traded up C$0.01 during mid-day trading on Friday, reaching C$1.09. 290,638 shares of the company were exchanged, compared to its average volume of 265,613. The firm’s 50-day simple moving average is C$1.61 and its two-hundred day simple moving average is C$2.20. European Residential Real Estate Investment Trust has a twelve month low of C$0.98 and a twelve month high of C$3.99. The firm has a market cap of C$101.50 million, a PE ratio of -1.71 and a beta of 1.72. 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.