Royal Bank of Canada Forecasts Strong Price Appreciation for European Residential Real Estate Investment Trust (TSE:ERE.UN) Stock

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price target lifted by equities researchers at Royal Bank of Canada from C$2.50 to C$3.90 in a note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s target price indicates a potential upside of 12.39% from the company’s current price.

ERE.UN has been the subject of a number of other reports. TD Securities boosted their price objective on shares of 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 boosted their price objective on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Scotiabank boosted their price objective on shares of European Residential Real Estate Investment Trust from C$2.25 to C$3.75 and gave the stock a “sector perform” rating in a report on Wednesday, September 18th. Raymond James lifted their target price on shares of European Residential Real Estate Investment Trust from C$3.25 to C$4.00 in a research note on Thursday, September 19th. Finally, CIBC decreased their target price on shares of European Residential Real Estate Investment Trust from C$3.50 to C$3.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$3.52.

European Residential Real Estate Investment Trust Trading Down 4.7 %

Shares of ERE.UN opened at C$3.47 on Friday. The firm has a market cap of C$319.24 million, a price-to-earnings ratio of 18.26 and a beta of 1.28. The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27. European Residential Real Estate Investment Trust has a fifty-two week low of C$2.17 and a fifty-two week high of C$3.65. The firm has a 50 day moving average price of C$3.09 and a 200-day moving average price of C$2.68.

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.