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

European Residential Real Estate Investment Trust (TSE:ERE.UN)’s stock price was up 0.9% during mid-day trading on Friday . The company traded as high as C$1.18 and last traded at C$1.18. Approximately 27,552 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 94,462 shares. The stock had previously closed at C$1.17.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ERE.UN. Scotiabank dropped their price objective on shares of European Residential Real Estate Investment Trust from C$2.85 to C$1.25 in a research note on Friday, October 17th. Canadian Imperial Bank of Commerce lowered shares of European Residential Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a research report on Friday, November 7th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, European Residential Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus target price of C$1.52.

European Residential Real Estate Investment Trust Stock Performance

The firm has a market cap of C$109.87 million, a price-to-earnings ratio of -2.57 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. The stock has a fifty day moving average price of C$1.15 and a 200-day moving average price of C$1.56.

European Residential Real Estate Investment Trust (TSE:ERE.UN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C($0.04) earnings per share for the quarter. The company had revenue of C$16.42 million for the quarter. European Residential Real Estate Investment Trust had a return on equity of 6.43% and a net margin of 29.74%. On average, analysts expect that European Residential Real Estate Investment Trust will post 0.1190476 earnings per share for the current fiscal 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.