Cormark Has Lowered Expectations for European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock Price

European Residential Real Estate Investment Trust (TSE:ERE.UN – Free Report) had its target price trimmed by Cormark from C$2.90 to C$1.60 in a research note published on Monday morning,BayStreet.CA reports.
A number of other brokerages have also weighed in on ERE.UN. Raymond James Financial lowered European Residential Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from C$3.00 to C$2.75 in a research note on Wednesday, August 13th. CIBC lowered their target price on European Residential Real Estate Investment Trust from C$3.00 to C$1.25 and set an “outperform” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$2.19.
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Check Out Our Latest Analysis on ERE.UN
European Residential Real Estate Investment Trust Price Performance
TSE:ERE.UN opened at C$1.08 on Monday. The firm has a market capitalization of C$100.57 million, a price-to-earnings ratio of -1.69 and a beta of 1.72. 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 has a 12-month low of C$0.98 and a 12-month high of C$3.99. The stock’s 50 day moving average price is C$2.41 and its two-hundred day moving average price is C$2.47.
European Residential Real Estate Investment Trust Company Profile
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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.
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