Scotiabank cut shares of European Residential Real Estate Investment Trust (TSE:ERE.UN – Free Report) from an outperform rating to a sector perform rating in a research report released on Monday morning, BayStreet.CA reports. They currently have C$3.00 target price on the stock, down from their prior target price of C$3.50.
Several other brokerages have also issued reports on ERE.UN. Raymond James dropped their target price on shares of European Residential Real Estate Investment Trust from C$2.85 to C$2.75 and set a market perform rating on the stock in a research report on Friday, February 23rd. Desjardins reduced their target price on European Residential Real Estate Investment Trust from C$3.00 to C$2.75 and set a hold rating for the company in a report on Friday, February 23rd. Finally, Echelon Wealth Partners upgraded European Residential Real Estate Investment Trust from a hold rating to a speculative buy rating and decreased their target price for the company from C$3.30 to C$3.00 in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, European Residential Real Estate Investment Trust currently has a consensus rating of Hold and an average target price of C$3.14.
Check Out Our Latest Stock Analysis on ERE.UN
European Residential Real Estate Investment Trust Stock Performance
European Residential Real Estate Investment Trust Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be paid a $0.01 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date is Tuesday, April 30th. European Residential Real Estate Investment Trust’s dividend payout ratio is currently -23.61%.
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.
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