Stock ERE.UN EUROPEAN RESIDENTIAL REAL ESTATE INVESTMENT TRUST
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Financials European Residential Real Estate Investment Trust

Equities

ERE.UN

CA29880W1032

Residential REITs

Market Closed - Toronto S.E.
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
2.36 CAD -0.42% Intraday chart for European Residential Real Estate Investment Trust +0.85% -8.53%
Apr. 17 REITs Brief: Bloomberg Reporting That Ontario Teachers' Pension Plan Weighing $5 Billion Sale of Amica, a private provider of luxury seniors residences MT
Apr. 15 ERES REIT Declares April 2024 Monthly Distribution, Payable on May 15, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 411.6 369.7 401.8 272.7 235.7 216.6 -
Enterprise Value (EV) 1 411.6 369.7 401.8 1,677 235.7 216.6 216.6
P/E ratio - - - - - - -
Yield 2.45% 3.86% 3.49% 7.08% 6.79% 7.42% 7.42%
Capitalization / Revenue 6.86 x 3.45 x 3.62 x 2.13 x 1.69 x 1.46 x 1.39 x
EV / Revenue 6.86 x 3.45 x 3.62 x 2.13 x 1.69 x 1.46 x 1.39 x
EV / EBITDA 11.2 x 5.47 x 5.59 x 3.23 x 2.55 x 2.11 x 2.01 x
EV / FCF - - 8.03 x 5.47 x 4.58 x -74.2 x 148 x
FCF Yield - - 12.5% 18.3% 21.8% -1.35% 0.67%
Price to Book - - - - - - -
Nbr of stocks (in thousands) 88,507 88,646 89,096 89,990 91,367 91,760 -
Reference price 2 4.650 4.170 4.510 3.030 2.580 2.360 2.360
Announcement Date 2/25/20 2/23/21 2/17/22 2/15/23 2/21/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 59.97 107 110.9 127.7 139.8 148.5 155.3
EBITDA 1 36.65 67.63 71.87 84.5 92.46 102.5 107.9
EBIT - - - - - - -
Operating Margin - - - - - - -
Earnings before Tax (EBT) -7.519 209 219.1 - - - -
Net income -24.3 181.7 138.7 166.6 - - -
Net margin -40.51% 169.8% 125.06% 130.44% - - -
EPS - - - - - - -
Free Cash Flow 1 - - 50.06 49.83 51.46 -2.92 1.46
FCF margin - - 45.13% 39.01% 36.82% -1.97% 0.94%
FCF Conversion (EBITDA) - - 69.66% 58.97% 55.65% - 1.35%
FCF Conversion (Net income) - - 36.09% 29.91% - - -
Dividend per Share 2 0.1138 0.1608 0.1576 0.2146 0.1753 0.1750 0.1750
Announcement Date 2/25/20 2/23/21 2/17/22 2/15/23 2/21/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q4 2023 Q1 2023 Q2 2023 Q4 2024 Q1
Net sales 27.73 28.9 26.47 29.02 - 34.31 34.08 - -
EBITDA 1 18.06 18.58 18.81 18.93 - - - 23.99 24.82
EBIT - - - - - - - - -
Operating Margin - - - - - - - - -
Earnings before Tax (EBT) 113.8 102.3 -26.31 166.4 - - - - -
Net income 84.32 65.22 -42.97 165.7 - - - - -
Net margin 304.07% 225.69% -162.34% 570.85% - - - - -
EPS - - - - - - - - -
Dividend per Share 0.0396 0.0397 - - 0.0887 - - - -
Announcement Date 11/4/21 2/17/22 5/2/22 8/3/22 2/15/23 5/10/23 8/2/23 2/21/24 -
1CAD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - 1,405 - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - 16.62 x - - -
Free Cash Flow 1 - - 50.1 49.8 51.5 -2.92 1.46
ROE (net income / shareholders' equity) - - - - - - -
ROA (Net income/ Total Assets) - - - - - - -
Assets - - - - - - -
Book Value Per Share - - - - - - -
Cash Flow per Share - - - - - - -
Capex 12.1 16.7 28 34.3 - - -
Capex / Sales 20.19% 15.65% 25.27% 26.88% - - -
Announcement Date 2/25/20 2/23/21 2/17/22 2/15/23 2/21/24 - -
1CAD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
2.36 CAD
Average target price
3.156 CAD
Spread / Average Target
+33.74%
Consensus

Quarterly revenue - Rate of surprise

Company calendar

Sector Residential REITs

1st Jan change Capi.
EUROPEAN RESIDENTIAL REAL ESTATE INVESTMENT TRUST Stock European Residential Real Estate Investment Trust
-8.53% 158M
EQUITY RESIDENTIAL Stock Equity Residential
+6.51% 24.68B
INVITATION HOMES INC. Stock Invitation Homes Inc.
+1.79% 21.27B
ESSEX PROPERTY TRUST, INC. Stock Essex Property Trust, Inc.
-0.41% 15.85B
MID-AMERICA APARTMENT COMMUNITY, INC. Stock Mid-America Apartment Community, Inc.
-3.89% 15.08B
SUN COMMUNITIES, INC. Stock Sun Communities, Inc.
-10.90% 14.84B
AMERICAN HOMES 4 RENT Stock American Homes 4 Rent
+1.25% 13.34B
UDR INC. Stock UDR Inc.
-0.99% 12.48B
EQUITY LIFESTYLE PROPERTIES, INC. Stock Equity LifeStyle Properties, Inc.
-14.19% 11.29B
CAMDEN PROPERTY TRUST Stock Camden Property Trust
+0.33% 10.84B
Residential REITs
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