European Residential REIT T.ERE.UN

Alternate Symbol(s): EREUF

European Residential REIT is a Canada-based open-ended real estate investment trust. The Company’s objectives are to maintain strong financial management with a conservative approach to its capital structure, leverage and coverage ratios to provide Unitholders with long-term, stable and growing cash distributions and maintain a focus on maximizing occupancy and responsibly growing occupied AMR in accordance with local conditions in each of its markets. It owns a portfolio of 158 multi-residential properties, comprised of approximately 6,900 suites and ancillary retail space located in the Netherlands, and owns one office property in Germany and one office property in Belgium. Its Commercial properties are located in Belgium and Germany and managed by Maple Knoll. Its commercial properties include Brussels, Belgium and Greater Munich, Germany. Its residential properties include Gelderland, Doorwerth; Groningen, Hoogezand; Limburg, Vaals; Limburg, Venray, and others.

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European Residential REIT

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Post by retiredcfon Nov 14, 2021 4:37pm

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Price/cash flow is the best valuation metric (FFO is same as cash flow per unit). On that basis, vs peers, ERE is not that cheap at 28X cash flow. But it does have higher growth. It is growing nicely with acquisitions and occupancy is high. Payout ratio is 80% which allows some room for higher distributions but perhaps not in the short term. Its size adds a bit of risk but otherwise it looks pretty good.

So said the team at 5iResearch. GLTA

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