European Residential Real Estate Investment Trust (TSE:ERE.UN) Given New C$1.19 Price Target at TD Securities

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target cut by equities research analysts at TD Securities from C$1.25 to C$1.19 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “sell” rating on the stock. TD Securities’ target price indicates a potential upside of 1.71% from the company’s previous close.

Separately, Canadian Imperial Bank of Commerce cut European Residential Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a report on Friday, November 7th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of C$1.56.

European Residential Real Estate Investment Trust Stock Performance

Shares of TSE:ERE.UN traded up C$0.01 on Wednesday, hitting C$1.17. 56,979 shares of the company were exchanged, compared to its average volume of 117,665. The company’s 50 day moving average price is C$1.16 and its two-hundred day moving average price is C$1.39. The firm has a market capitalization of C$108.93 million, a price-to-earnings ratio of -3.89 and a beta of 1.38. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27. European Residential Real Estate Investment Trust has a one year low of C$0.98 and a one year high of C$2.64.

European Residential Real Estate Investment Trust (TSE:ERE.UN) last posted its quarterly earnings results on Wednesday, February 11th. The company reported C($0.12) EPS for the quarter. The firm had revenue of C$6.70 million during the quarter. European Residential Real Estate Investment Trust had a net margin of 29.74% and a return on equity of 6.43%. Research analysts expect that European Residential Real Estate Investment Trust will post 0.1190476 earnings per share for the current year.

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. ERES owns a portfolio of 137 multi-residential properties, comprised of 5,865 suites and ancillary retail space located in the Netherlands, and owns one office property in Germany and one office property in Belgium.