Education Realty Trust Inc. (EDR) Reaches New 1-Year High at $47.50
Shares of Education Realty Trust Inc. (NYSE:EDR) hit a new 52-week high on Monday . The company traded as high as $47.50 and last traded at $46.84, with a volume of 138,304 shares changing hands. The stock had previously closed at $47.04.
A number of analysts recently weighed in on EDR shares. Zacks Investment Research raised shares of Education Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. FBR & Co assumed coverage on shares of Education Realty Trust in a report on Wednesday, April 6th. They set an “outperform” rating and a $47.00 target price for the company. Goldman Sachs Group Inc. raised shares of Education Realty Trust from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $32.00 to $42.00 in a report on Monday, April 25th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $40.00 target price on shares of Education Realty Trust in a report on Thursday, May 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $45.00 target price on shares of Education Realty Trust in a report on Wednesday, May 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $44.20.
The company has a market cap of $3.10 billion and a price-to-earnings ratio of 85.05. The company’s 50 day moving average is $45.08 and its 200-day moving average is $41.42.
Education Realty Trust (NYSE:EDR) last released its quarterly earnings results on Monday, May 2nd. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.07. The business had revenue of $73.38 million for the quarter, compared to the consensus estimate of $68.78 million. During the same period in the previous year, the business posted $0.50 EPS. Education Realty Trust’s revenue was up 14.5% on a year-over-year basis. Equities analysts predict that Education Realty Trust Inc. will post $1.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 29th will be paid a dividend of $0.38 per share. This is an increase from Education Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, July 27th.
In other Education Realty Trust news, Director Kimberly Schaefer purchased 1,000 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was purchased at an average price of $41.60 per share, with a total value of $41,600.00. Following the completion of the purchase, the director now owns 2,800 shares of the company’s stock, valued at $116,480. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Several institutional investors have added to or reduced their stakes in EDR. Employees Retirement System of Texas increased its position in Education Realty Trust by 8.2% in the fourth quarter. Employees Retirement System of Texas now owns 198,756 shares of the real estate investment trust’s stock valued at $7,529,000 after buying an additional 15,000 shares during the last quarter. Pear Tree Advisors Inc. acquired a new position in Education Realty Trust during the fourth quarter valued at about $2,233,000. State of New Jersey Common Pension Fund D increased its position in Education Realty Trust by 13.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 85,000 shares of the real estate investment trust’s stock valued at $3,220,000 after buying an additional 10,000 shares during the last quarter. Advantus Capital Management Inc increased its position in Education Realty Trust by 127.5% in the fourth quarter. Advantus Capital Management Inc now owns 65,831 shares of the real estate investment trust’s stock valued at $2,494,000 after buying an additional 36,900 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Education Realty Trust during the fourth quarter valued at about $20,312,000.
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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