European Residential Real Estate Investment Trust (TSE:ERE.UN) Shares Up 0.9% – Still a Buy?

European Residential Real Estate Investment Trust (TSE:ERE.UN) traded up 0.9% during trading on Friday . The stock traded as high as C$1.18 and last traded at C$1.18. 157,064 shares were traded during mid-day trading, a decline of 16% from the average session volume of 186,887 shares. The stock had previously closed at C$1.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Desjardins cut European Residential Real Estate Investment Trust from a “hold” rating to a “tender” rating and lifted their target price for the company from C$1.20 to C$1.90 in a research note on Wednesday, March 4th. TD Securities lowered their target price on European Residential Real Estate Investment Trust from C$1.25 to C$1.19 and set a “sell” rating for the company in a research note on Wednesday, March 4th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of C$1.56.

European Residential Real Estate Investment Trust Price Performance

The company has a 50 day moving average price of C$1.16 and a 200 day moving average price of C$1.13. The company has a market capitalization of C$109.87 million, a price-to-earnings ratio of -3.92 and a beta of 0.91. The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06.

European Residential Real Estate Investment Trust (TSE:ERE.UN) last posted its quarterly earnings results on Wednesday, February 11th. The company reported C($0.12) earnings per share (EPS) for the quarter. European Residential Real Estate Investment Trust had a return on equity of 6.43% and a net margin of 29.74%.The company had revenue of C$6.70 million during the quarter. As a group, equities research analysts forecast that European Residential Real Estate Investment Trust will post 0.1190476 earnings per share for the current year.

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. ERES owns a portfolio of 137 multi-residential properties, comprised of 5,865 suites and ancillary retail space located in the Netherlands, and owns one office property in Germany and one office property in Belgium.