European Residential Real Estate Investment Trust (TSE:ERE.UN) Given New C$3.00 Price Target at CIBC

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target lowered by CIBC from C$3.50 to C$3.00 in a research report report published on Wednesday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on the company. Raymond James upgraded European Residential Real Estate Investment Trust from a market perform rating to an outperform rating and upped their price target for the stock from C$2.75 to C$3.25 in a research note on Tuesday, July 16th. Scotiabank boosted their price objective on European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the company a sector perform rating in a report on Wednesday. Ventum Financial raised their target price on European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the company a buy rating in a report on Wednesday. Finally, TD Securities boosted their price target on shares of European Residential Real Estate Investment Trust from C$3.50 to C$3.75 and gave the stock a buy rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, European Residential Real Estate Investment Trust has an average rating of Moderate Buy and a consensus target price of C$3.47.

European Residential Real Estate Investment Trust Price Performance

European Residential Real Estate Investment Trust stock opened at C$3.23 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 company has a market capitalization of C$297.16 million, a price-to-earnings ratio of 17.00 and a beta of 1.25. The company’s 50 day simple moving average is C$2.76 and its 200-day simple moving average is C$2.48. European Residential Real Estate Investment Trust has a 1 year low of C$2.12 and a 1 year high of C$3.28.

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.