Raymond James Upgrades European Residential Real Estate Investment Trust (TSE:ERE.UN) to Outperform

Raymond James upgraded shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) from a market perform rating to an outperform rating in a report released on Tuesday, BayStreet.CA reports. They currently have C$3.25 price objective on the stock, up from their previous price objective of C$2.75.

Separately, Scotiabank downgraded European Residential Real Estate Investment Trust from an outperform rating to a sector perform rating and lowered their price objective for the stock from C$3.50 to C$3.00 in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, European Residential Real Estate Investment Trust presently has a consensus rating of Moderate Buy and a consensus target price of C$3.20.

European Residential Real Estate Investment Trust Stock Performance

European Residential Real Estate Investment Trust stock opened at C$2.70 on Tuesday. The business has a 50 day moving average of C$2.35 and a 200-day moving average of C$2.37. The company has a market capitalization of C$247.75 million, a P/E ratio of 27.00 and a beta of 1.21. European Residential Real Estate Investment Trust has a 1 year low of C$2.12 and a 1 year high of C$2.92. The company has a debt-to-equity ratio of 272.09, a current ratio of 0.04 and a quick ratio of 0.20.

European Residential Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.01 per share. This represents a $0.12 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Tuesday, April 30th. European Residential Real Estate Investment Trust’s payout ratio is presently 180.00%.

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.