European Residential Real Estate Investment Trust (TSE:ERE.UN) Downgraded to Tender Rating by Desjardins

Desjardins cut shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) from a hold rating to a tender rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have C$1.90 price target on the stock, up from their previous price target of C$1.20.

Other analysts have also recently issued research reports about the stock. Canadian Imperial Bank of Commerce cut shares of European Residential Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a research report on Friday, November 7th. TD Securities cut their target price on shares of European Residential Real Estate Investment Trust from C$1.25 to C$1.19 and set a “sell” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of C$1.56.

European Residential Real Estate Investment Trust Stock Performance

ERE.UN opened at C$1.16 on Wednesday. European Residential Real Estate Investment Trust has a 52 week low of C$0.98 and a 52 week high of C$2.64. The business has a fifty day simple moving average of C$1.16 and a 200-day simple moving average of C$1.39. The firm has a market cap of C$108.00 million, a P/E ratio of -3.85 and a beta of 1.38. The company has a quick ratio of 0.20, a current ratio of 0.27 and a debt-to-equity ratio of 256.06.

European Residential Real Estate Investment Trust (TSE:ERE.UN) last posted its quarterly earnings data 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 net margin of 29.74% and a return on equity of 6.43%. The firm had revenue of C$6.70 million during the quarter. On average, equities analysts expect that European Residential Real Estate Investment Trust will post 0.1190476 earnings per share for the current year.

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. 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.