Scotiabank Boosts European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target to C$3.75

Posted by Amy Steele on Sep 21st, 2024

European Residential Real Estate Investment Trust (TSE:ERE.UN – Free Report) had its target price raised by Scotiabank from C$2.25 to C$3.75 in a report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

ERE.UN has been the topic of a number of other research reports. CIBC increased their target price on European Residential Real Estate Investment Trust from C$3.00 to C$3.50 in a report on Thursday, August 8th. TD Securities increased their target price on European Residential Real Estate Investment Trust from C$3.50 to C$3.75 and gave the stock a buy rating in a report on Wednesday, September 4th. Ventum Financial increased their price target on European Residential Real Estate Investment Trust from C$3.00 to C$3.25 in a research report on Tuesday, July 16th. Finally, Raymond James upgraded European Residential Real Estate Investment Trust from a market perform rating to an outperform rating and increased their price target for the stock from C$2.75 to C$3.25 in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of C$3.47.

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European Residential Real Estate Investment Trust Trading Up 0.3 %

TSE:ERE.UN opened at C$3.23 on Wednesday. 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 business’s 50 day moving average is C$2.76 and its two-hundred day moving average is C$2.48. European Residential Real Estate Investment Trust has a 52 week low of C$2.12 and a 52 week high of C$3.28. The company has a market cap of C$297.16 million, a PE ratio of 17.00 and a beta of 1.25.

About European Residential Real Estate Investment Trust

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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.