Royal Bank Of Canada Issues Pessimistic Forecast for European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Price

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price objective reduced by equities researchers at Royal Bank Of Canada from C$2.45 to C$1.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential downside of 1.96% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. TD Securities reduced their price target on shares of European Residential Real Estate Investment Trust from C$2.75 to C$1.25 and set a “hold” rating for the company in a research report on Tuesday. Cormark decreased their price objective on shares of European Residential Real Estate Investment Trust from C$2.90 to C$1.60 in a research report on Monday. CIBC decreased their target price 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 report on Monday. Finally, Raymond James Financial cut European Residential Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from C$3.00 to C$2.75 in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, European Residential Real Estate Investment Trust presently has an average rating of “Hold” and a consensus price target of C$1.57.

European Residential Real Estate Investment Trust Stock Performance

Shares of ERE.UN opened at C$1.02 on Wednesday. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27. The stock has a 50-day moving average of C$2.32 and a two-hundred day moving average of C$2.44. The stock has a market cap of C$94.98 million, a P/E ratio of -1.60 and a beta of 1.72. European Residential Real Estate Investment Trust has a one year low of C$0.98 and a one year high of C$3.99.

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.