Royal Bank Of Canada Cuts European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target to C$1.00

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its target price decreased by Royal Bank Of Canada from C$2.45 to C$1.00 in a report published on Wednesday morning,BayStreet.CA reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

A number of other research firms have also recently issued reports on ERE.UN. TD Securities cut their target price 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 note on Tuesday. CIBC cut their target price on shares of European Residential Real Estate Investment Trust from C$3.00 to C$1.25 and set an “outperform” rating for the company in a research note on Monday, September 29th. Raymond James Financial cut shares of European Residential Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$3.00 to C$2.75 in a research note on Wednesday, August 13th. Finally, Cormark cut their target price on shares of European Residential Real Estate Investment Trust from C$2.90 to C$1.60 in a research note on Monday, September 29th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$1.57.

European Residential Real Estate Investment Trust Stock Up 4.9%

Shares of ERE.UN opened at C$1.07 on Wednesday. European Residential Real Estate Investment Trust has a 12 month low of C$0.98 and a 12 month high of C$3.99. The company has a 50-day moving average price of C$2.29 and a two-hundred day moving average price of C$2.43. The company has a quick ratio of 0.20, a current ratio of 0.27 and a debt-to-equity ratio of 256.06. The stock has a market cap of C$99.64 million, a price-to-earnings ratio of -1.67 and a beta of 1.72.

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.