European Residential Real Estate Investment Trust (TSE:ERE.UN) Rating Lowered to Sector Perform at Scotiabank

European Residential Real Estate Investment Trust (TSE:ERE.UN) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Monday, BayStreet.CA reports. They currently have a C$3.00 price objective on the stock, down from their prior price objective of C$3.50. Scotiabank’s target price indicates a potential upside of 29.31% from the company’s current price.

Several other research analysts also recently weighed in on the company. Echelon Wealth Partners upgraded European Residential Real Estate Investment Trust from a “hold” rating to a “speculative buy” rating and cut their price target for the company from C$3.30 to C$3.00 in a report on Friday, February 23rd. Raymond James reduced 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 report on Friday, February 23rd. Finally, Desjardins lowered their price target on European Residential Real Estate Investment Trust from C$3.00 to C$2.75 and set a “hold” rating for the company in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$3.14.

European Residential Real Estate Investment Trust Price Performance

European Residential Real Estate Investment Trust stock opened at C$2.32 on Monday. The company has a debt-to-equity ratio of 290.94, a current ratio of 0.09 and a quick ratio of 0.20. The stock has a market capitalization of C$212.21 million, a P/E ratio of -3.22 and a beta of 1.21. The firm’s 50-day moving average is C$2.35 and its two-hundred day moving average is C$2.38. European Residential Real Estate Investment Trust has a 12-month low of C$2.12 and a 12-month high of C$3.38.

European Residential Real Estate Investment Trust Company Profile

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.