European Residential Real Estate Investment Trust (TSE:ERE.UN) Trading Down 0.9% – Here’s What Happened

European Residential Real Estate Investment Trust (TSE:ERE.UN)’s share price traded down 0.9% during trading on Thursday . The stock traded as low as C$1.16 and last traded at C$1.16. 254,844 shares changed hands during trading, an increase of 39% from the average session volume of 183,648 shares. The stock had previously closed at C$1.17.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Desjardins cut shares of European Residential Real Estate Investment Trust from a “hold” rating to a “tender” rating and upped their price target for the company from C$1.20 to C$1.90 in a report on Wednesday, March 4th. 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, March 4th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of C$1.56.

European Residential Real Estate Investment Trust Trading Down 0.9%

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 firm’s 50 day simple moving average is C$1.16 and its two-hundred day simple moving average is C$1.25. The stock has a market cap of C$108.00 million, a P/E ratio of -3.85 and a beta of 1.17.

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 business had revenue of C$6.70 million during the quarter. As a group, equities research analysts predict that European Residential Real Estate Investment Trust will post 0.1190476 earnings per share for the current fiscal 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.