Education Realty Trust Inc. (EDR) Reaches New 12-Month High at $47.50
Education Realty Trust Inc. (NYSE:EDR) shares reached a new 52-week high on Monday . The stock traded as high as $47.50 and last traded at $46.84, with a volume of 138,304 shares traded. The stock had previously closed at $47.04.
Several research analysts recently weighed in on EDR shares. Zacks Investment Research upgraded shares of Education Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. FBR & Co started coverage on shares of Education Realty Trust in a research report on Wednesday, April 6th. They set an “outperform” rating and a $47.00 price target for the company. Goldman Sachs Group Inc. upgraded shares of Education Realty Trust from a “sell” rating to a “neutral” rating and upped their price target for the stock from $32.00 to $42.00 in a research report on Monday, April 25th. JPMorgan Chase & Co. restated a “hold” rating and set a $40.00 price target on shares of Education Realty Trust in a research report on Thursday, May 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $45.00 price objective on shares of Education Realty Trust in a research note on Wednesday, May 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $44.20.
The firm’s 50 day moving average is $44.77 and its 200-day moving average is $41.23. The stock has a market capitalization of $3.10 billion and a price-to-earnings ratio of 85.04.
Education Realty Trust (NYSE:EDR) last issued its earnings results on Monday, May 2nd. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.07. During the same period in the previous year, the firm earned $0.50 EPS. The firm earned $73.38 million during the quarter, compared to analysts’ expectations of $68.78 million. The firm’s revenue was up 14.5% on a year-over-year basis. Equities analysts forecast that Education Realty Trust Inc. will post $1.78 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 29th will be issued a $0.38 dividend. This is a positive change from Education Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Wednesday, July 27th.
In other news, Director Kimberly Schaefer bought 1,000 shares of the stock in a transaction dated Monday, May 23rd. The shares were acquired at an average price of $41.60 per share, with a total value of $41,600.00. Following the completion of the acquisition, the director now directly owns 2,800 shares in the company, valued at $116,480. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Other hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Education Realty Trust by 16.2% in the fourth quarter. Vanguard Group Inc. now owns 8,159,168 shares of the real estate investment trust’s stock valued at $309,069,000 after buying an additional 1,140,432 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Education Realty Trust during the fourth quarter valued at approximately $20,312,000. Principal Financial Group Inc. boosted its stake in shares of Education Realty Trust by 7.7% in the fourth quarter. Principal Financial Group Inc. now owns 2,335,774 shares of the real estate investment trust’s stock valued at $88,479,000 after buying an additional 167,090 shares during the period. Pear Tree Advisors Inc. bought a new stake in shares of Education Realty Trust during the fourth quarter valued at approximately $2,233,000. Finally, Monarch Partners Asset Management LLC boosted its stake in shares of Education Realty Trust by 82.9% in the fourth quarter. Monarch Partners Asset Management LLC now owns 99,830 shares of the real estate investment trust’s stock valued at $3,782,000 after buying an additional 45,255 shares during the period.
Education Realty Trust, Inc (EdR) is a self-managed and self-advised real estate investment trust (REIT). The Trust is engaged in developing, acquiring, owning and managing collegiate housing communities located near university campuses. The Trust operates through three segments: collegiate housing leasing, development consulting services and management services.
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