Raymond James Financial Downgrades European Residential Real Estate Investment Trust (TSE:ERE.UN) to Market Perform

European Residential Real Estate Investment Trust (TSE:ERE.UN) was downgraded by analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report released on Wednesday,BayStreet.CA reports. They presently have a C$2.75 target price on the stock, down from their previous target price of C$3.00. Raymond James Financial’s price objective would indicate a potential upside of 13.64% from the company’s current price.

European Residential Real Estate Investment Trust Trading Up 0.4%

Shares of ERE.UN stock opened at C$2.42 on Wednesday. European Residential Real Estate Investment Trust has a 1 year low of C$2.24 and a 1 year high of C$3.99. The company has a debt-to-equity ratio of 256.06, a current ratio of 0.27 and a quick ratio of 0.20. The stock’s 50 day simple moving average is C$2.52 and its two-hundred day simple moving average is C$2.50. The company has a market cap of C$222.64 million, a PE ratio of 12.74 and a beta of 1.28.

Insider Buying and Selling at European Residential Real Estate Investment Trust

In other news, Director Lisa Maureen Russell sold 20,975 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of C$2.52, for a total value of C$52,857.00. Insiders own 12.50% of the company’s stock.

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.