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

European Residential Real Estate Investment Trust (TSE:ERE.UN) shot up 0.9% during trading on Friday . The company traded as high as C$1.18 and last traded at C$1.18. 157,064 shares changed hands during trading, a decline of 16% from the average session volume of 186,887 shares. The stock had previously closed at C$1.17.

Analysts Set New Price Targets

A number of research firms have commented on ERE.UN. TD Securities reduced their price objective 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. Desjardins downgraded shares of European Residential Real Estate Investment Trust from a “hold” rating to a “tender” rating and increased their price objective for the company from C$1.20 to C$1.90 in a research note on Wednesday, March 4th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of C$1.56.

European Residential Real Estate Investment Trust Stock Performance

The stock’s 50-day moving average price is C$1.16 and its 200-day moving average price is C$1.13. The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06. The company has a market capitalization of C$109.87 million, a P/E ratio of -3.92 and a beta of 0.91.

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 analysts expect that European Residential Real Estate Investment Trust will post 0.1190476 EPS for the current 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.