E
uropean Residential Real Estate Investment Trust's (ERE.UN) stock took a 2% hit on Friday, with prices dipping as low as C$2.40 before rebounding to C$2.48. A whopping 1.59 million shares changed hands, more than triple the average daily volume of 367,581 shares. This volatility comes after the stock closed at C$2.53.
Analysts have been weighing in on ERE.UN, with some notable downgrades. TD Securities recently shifted their stance from "buy" to "hold," setting a target price of C$2.75. Royal Bank of Canada also reduced its price objective from C$3.90 to C$2.60, while Raymond James dropped its target from C$4.50 to C$3.00 and maintained an "outperform" rating.
The consensus among analysts is a Moderate Buy, with two holding out for a hold rating and three advocating for a buy. MarketBeat's data suggests a consensus target price of C$3.18.
With a market cap of C$223.56 million, ERE.UN boasts a PE ratio of 12.79 and a beta of 1.28. The company's current ratio stands at 0.27, quick ratio at 0.20, and debt-to-equity ratio at 256.06. Its 50-day moving average price is C$2.49, while the 200-day average sits at C$2.95.
As Canada's sole European-focused multi-residential REIT, ERE.UN has its sights set on high-quality properties in the Netherlands. With a unique focus and growing presence, investors are taking notice – but should you be one of them?
