ERE.UN Stock Overview
ERES is an unincorporated, open-ended real estate investment trust.
European Residential Real Estate Investment Trust Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||CA$3.03|
|52 Week High||CA$5.06|
|52 Week Low||CA$2.99|
|1 Month Change||-13.43%|
|3 Month Change||-18.77%|
|1 Year Change||-33.11%|
|3 Year Change||-32.67%|
|5 Year Change||n/a|
|Change since IPO||-31.14%|
Recent News & Updates
|ERE.UN||CA REITs||CA Market|
Return vs Industry: ERE.UN underperformed the Canadian REITs industry which returned -22.1% over the past year.
Return vs Market: ERE.UN underperformed the Canadian Market which returned -7.2% over the past year.
|ERE.UN Average Weekly Movement||4.9%|
|REITs Industry Average Movement||3.2%|
|Market Average Movement||9.9%|
|10% most volatile stocks in CA Market||18.3%|
|10% least volatile stocks in CA Market||3.8%|
Stable Share Price: ERE.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: ERE.UN's weekly volatility (5%) has been stable over the past year.
About the Company
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.
European Residential Real Estate Investment Trust Fundamentals Summary
|ERE.UN fundamental statistics|
Is ERE.UN overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|ERE.UN income statement (TTM)|
|Cost of Revenue||€18.62m|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
|Earnings per share (EPS)||2.22|
|Net Profit Margin||240.38%|
How did ERE.UN perform over the long term?See historical performance and comparison
5.2%Current Dividend Yield
Does ERE.UN pay a reliable dividends?See ERE.UN dividend history and benchmarks
|European Residential Real Estate Investment Trust dividend dates|
|Ex Dividend Date||Sep 28 2022|
|Dividend Pay Date||Oct 17 2022|
|Days until Ex dividend||2 days|
|Days until Dividend pay date||21 days|
Does ERE.UN pay a reliable dividends?See ERE.UN dividend history and benchmarks
Is ERE.UN undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 6/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for ERE.UN?
Other financial metrics that can be useful for relative valuation.
|What is ERE.UN's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does ERE.UN's PE Ratio compare to its peers?
|ERE.UN PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
MRG.UN Morguard North American Residential Real Estate Investment Trust
MI.UN Minto Apartment Real Estate Investment Trust
MHC.UN Flagship Communities Real Estate Investment Trust
IIP.UN InterRent Real Estate Investment Trust
ERE.UN European Residential Real Estate Investment Trust
Price-To-Earnings vs Peers: ERE.UN is good value based on its Price-To-Earnings Ratio (1x) compared to the peer average (2.4x).
Price to Earnings Ratio vs Industry
How does ERE.UN's PE Ratio compare vs other companies in the CA REITs Industry?
Price-To-Earnings vs Industry: ERE.UN is good value based on its Price-To-Earnings Ratio (1x) compared to the Canadian REITs industry average (4.3x)
Price to Earnings Ratio vs Fair Ratio
What is ERE.UN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||1x|
|Fair PE Ratio||2.7x|
Price-To-Earnings vs Fair Ratio: ERE.UN is good value based on its Price-To-Earnings Ratio (1x) compared to the estimated Fair Price-To-Earnings Ratio (2.7x).
Share Price vs Fair Value
What is the Fair Price of ERE.UN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: ERE.UN (CA$3.03) is trading below our estimate of fair value (CA$7.08)
Significantly Below Fair Value: ERE.UN is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
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How is European Residential Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Future Growth Score1/6
Future Growth Score 1/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ERE.UN's earnings are forecast to decline over the next 3 years (-102.7% per year).
Earnings vs Market: ERE.UN's earnings are forecast to decline over the next 3 years (-102.7% per year).
High Growth Earnings: ERE.UN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: ERE.UN's revenue (6% per year) is forecast to grow faster than the Canadian market (5.8% per year).
High Growth Revenue: ERE.UN's revenue (6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if ERE.UN's Return on Equity is forecast to be high in 3 years time
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How has European Residential Real Estate Investment Trust performed over the past 5 years?
Past Performance Score4/6
Past Performance Score 4/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ERE.UN has a large one-off gain of €175.2M impacting its June 30 2022 financial results.
Growing Profit Margin: ERE.UN's current net profit margins are higher than last year (25.1%).
Past Earnings Growth Analysis
Earnings Trend: ERE.UN's earnings have grown significantly by 36.3% per year over the past 5 years.
Accelerating Growth: ERE.UN's earnings growth over the past year (983%) exceeds its 5-year average (36.3% per year).
Earnings vs Industry: ERE.UN earnings growth over the past year (983%) exceeded the REITs industry 58.2%.
Return on Equity
High ROE: Whilst ERE.UN's Return on Equity (37.33%) is high, this metric is skewed due to their high level of debt.
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How is European Residential Real Estate Investment Trust's financial position?
Financial Health Score1/6
Financial Health Score 1/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: ERE.UN's short term assets (€22.4M) do not cover its short term liabilities (€114.4M).
Long Term Liabilities: ERE.UN's short term assets (€22.4M) do not cover its long term liabilities (€1.4B).
Debt to Equity History and Analysis
Debt Level: ERE.UN's net debt to equity ratio (253.2%) is considered high.
Reducing Debt: Insufficient data to determine if ERE.UN's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: ERE.UN's debt is not well covered by operating cash flow (4.2%).
Interest Coverage: ERE.UN's interest payments on its debt are well covered by EBIT (3.8x coverage).
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What is European Residential Real Estate Investment Trust current dividend yield, its reliability and sustainability?
Dividend Score 3/6
Cash Flow Coverage
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: ERE.UN's dividend (5.22%) is higher than the bottom 25% of dividend payers in the Canadian market (2.05%).
High Dividend: ERE.UN's dividend (5.22%) is low compared to the top 25% of dividend payers in the Canadian market (5.95%).
Stability and Growth of Payments
Stable Dividend: ERE.UN has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: ERE.UN's dividend payments have increased, but the company has only paid a dividend for 3 years.
Earnings Payout to Shareholders
Earnings Coverage: With its low payout ratio (20.9%), ERE.UN's dividend payments are well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its reasonably low cash payout ratio (48.4%), ERE.UN's dividend payments are well covered by cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Phillip Burns (53 yo)
Mr. Phillip Wesley Burns is the Founder of Maple Knoll Capital Ltd. and has been its Principal since June 2013. He also serves as the Chief Executive Officer of European Residential Real Estate Investment...
CEO Compensation Analysis
Compensation vs Market: Phillip's total compensation ($USD1.12M) is about average for companies of similar size in the Canadian market ($USD1.27M).
Compensation vs Earnings: Phillip's compensation has been consistent with company performance over the past year.
Experienced Board: ERE.UN's board of directors are considered experienced (4.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
|23 Mar 22||BuyCA$48,764||Scott Cryer||Individual||10,000||CA$4.88|
|23 Feb 22||BuyCA$200,810||Stephen Co||Individual||43,000||CA$4.67|
|15 Nov 21||BuyCA$505,901||Ira Gluskin||Individual||110,000||CA$4.60|
|10 Nov 21||BuyCA$460,320||Ira Gluskin||Individual||100,000||CA$4.60|
|Owner Type||Number of Shares||Ownership Percentage|
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
European Residential Real Estate Investment Trust's employee growth, exchange listings and data sources
- Name: European Residential Real Estate Investment Trust
- Ticker: ERE.UN
- Exchange: TSX
- Founded: NaN
- Industry: Residential REITs
- Sector: Real Estate
- Implied Market Cap: CA$702.222m
- Market Cap: CA$271.838m
- Shares outstanding: 231.76m
- Website: https://www.eresreit.com
- European Residential Real Estate Investment Trust
- 11 Church Street
- Suite 401
- M5E 1W1
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|ERE.UN||TSX (The Toronto Stock Exchange)||Yes||Trust Units||CA||CAD||Apr 2019|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/09/25 00:00|
|End of Day Share Price||2022/09/23 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.