Professional
Added to YB: 2024-11-12
Pitch date: 2024-11-10
ERE-UN.TO [bullish]
European Residential Real Estate Investment Trust
+22.45%
current return
Author Info
Nugget Capital Partners is a research analyst specializing in resources w/ focus on energy. Sign up for the newsletter.
Company Info
ERES is an unincorporated, open-ended real estate investment trust. ERES's REIT Units are listed on the TSX under the symbol ERE.
Market Cap
CAD 146.6M
Pitch Price
CAD 2.06
Price Target
4.50 (+79%)
Dividend
3.78%
Sector
Residential REITs
Category
special_situation
Top 3 real estate picks updated - European Residential Real Estate Investment Trust
ERE-UN.TO (liquidation): REIT liquidating Dutch portfolio to focus on Canada. CEO Kenney confirmed plan to sell all properties above NAV. Recent sale of half portfolio above IFRS NAV. NAV $4.50, likely transaction $4.20-$4.50. Netherlands RE values rising. Low risk upside <$4, target $4.20-$4.50 upon 2025 liquidation.
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