Scotiabank Downgrades European Residential Real Estate Investment Trust (TSE:ERE.UN) to Sector Perform

Scotiabank cut shares of European Residential Real Estate Investment Trust (TSE:ERE.UN) from an outperform rating to a sector perform rating in a report published on Monday, BayStreet.CA reports. The brokerage currently has C$3.00 price target on the stock, down from their previous price target of C$3.50.

Several other research analysts have also weighed in on ERE.UN. Echelon Wealth Partners upgraded European Residential Real Estate Investment Trust from a hold rating to a speculative buy rating and reduced their target price for the stock from C$3.30 to C$3.00 in a report on Friday, February 23rd. Raymond James reduced 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 for the company in a report on Friday, February 23rd. Finally, Desjardins reduced their price target 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 research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of C$3.14.

European Residential Real Estate Investment Trust Price Performance

Shares of ERE.UN opened at C$2.30 on Monday. The company has a current ratio of 0.04, a quick ratio of 0.20 and a debt-to-equity ratio of 272.09. The stock has a market cap of C$211.05 million, a P/E ratio of -3.19 and a beta of 1.21. The stock’s 50-day moving average price is C$2.35 and its two-hundred day moving average price is C$2.37. European Residential Real Estate Investment Trust has a 1 year low of C$2.12 and a 1 year high of C$3.29.

European Residential Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 5.22%. European Residential Real Estate Investment Trust’s dividend payout ratio (DPR) is currently -23.61%.

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.