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European Residential Real Estate ate Investment Trust (TSE:ERE.UN)
TSX:ERE.UN
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-0.34Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 10, 2019
|% Change Since: 25.79%
|Next Earnings Date:Mar 26, 2019
Earnings Call Sentiment|Neutral
The earnings call highlighted strong rent growth and significant asset sales, which are expected to enhance liquidity and reduce debt. However, increased vacancies, decreased NOI margin, and a decline in FFO per unit indicate challenges in maintaining operational efficiency. Overall, the strategic initiatives seem poised to maximize unitholder value, but the execution of these strategies and market conditions will be critical moving forward.Company Guidance
In the third-quarter 2024 earnings call for European Residential Real Estate Investment Trust (ERES), the company provided detailed guidance on its ongoing strategic initiatives. The average monthly rent saw an increase of 8.4% to EUR 11.41, despite a slight rise in vacancies to 95.1% as part of a value maximization strategy. ERES announced agreements to sell 3,179 residential suites in the Netherlands for approximately EUR 739 million, representing about half of its total portfolio. This is expected to close by early Q1 2025, with the proceeds aimed at reducing debt and funding a special cash distribution for unitholders. Year-to-date, ERES also disposed of properties worth EUR 116 million and generated EUR 23 million from selling individual suites. The REIT recorded a fair value gain of EUR 39.4 million this quarter, with the diluted NAV per unit slightly increasing to EUR 3.01. Despite these transactions, the same-property NOI margin dropped to 76.7%, and diluted FFO per unit decreased by 4.8% to EUR 0.04. The debt-to-market value ratio improved, falling to 53% from 58% due to the redeployment of disposition proceeds. Looking forward, ERES plans to use part of the proceeds from upcoming sales to further pay down debt, enhancing its financial stability.Strong Rent Growth
Average monthly rent increased by 8.4% to EUR 11.41 across all occupied suites by September 30, 2024.
Significant Asset Sales
Announced agreements for the sale of 3,179 residential suites in the Netherlands for approximately EUR 739 million, expected to close by early Q1 2025.
Fair Value Gain
Recognized a fair value gain of EUR 39.4 million, with diluted NAV per unit increasing slightly to EUR 3.01.
Debt Reduction
Debt-to-market value ratio decreased to 53% from 58% at the previous year-end, achieved through redeployment of net disposition proceeds.
Improved Liquidity
Available liquidity increased to nearly EUR 90 million at period end.
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European Residential Real Estate ate Investment Trust (TSE:ERE.UN) Earnings, Revenues Date & History
TSE:ERE.UN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:ERE.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | C$1.90 | C$2.20 | +15.79% |
| Aug 06, 2024 | C$1.65 | C$1.59 | -3.64% |
| May 02, 2024 | C$1.37 | C$1.36 | -0.73% |
| Feb 21, 2024 | C$1.36 | C$1.35 | -0.74% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does European Residential Real Estate ate Investment Trust (TSE:ERE.UN) report earnings?
European Residential Real Estate ate Investment Trust (TSE:ERE.UN) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is European Residential Real Estate ate Investment Trust (TSE:ERE.UN) earnings time?
European Residential Real Estate ate Investment Trust (TSE:ERE.UN) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:ERE.UN EPS forecast?
Currently, no data Available
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