Education Realty Trust Inc. (EDR) Sees Unusually-High Trading Volume
Shares of Education Realty Trust Inc. (NYSE:EDR) saw strong trading volume on Monday . 1,164,406 shares changed hands during mid-day trading, an increase of 84% from the previous session’s volume of 631,662 shares.The stock last traded at $46.83 and had previously closed at $47.22.
A number of analysts have issued reports on the company. FBR & Co lifted their price objective on Education Realty Trust from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Canaccord Genuity lifted their price objective on Education Realty Trust from $51.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Zacks Investment Research downgraded Education Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Education Realty Trust in a research note on Wednesday, August 3rd. Finally, Hilliard Lyons downgraded Education Realty Trust from a “neutral” rating to an “underperform” rating in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $46.11.
The stock’s 50-day moving average price is $46.33 and its 200-day moving average price is $42.12. The firm has a market capitalization of $3.42 billion and a P/E ratio of 61.70.
Education Realty Trust (NYSE:EDR) last issued its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. During the same quarter in the prior year, the company posted $0.41 EPS. The business had revenue of $65.14 million for the quarter, compared to analysts’ expectations of $61.88 million. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities analysts expect that Education Realty Trust Inc. will post $1.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, July 27th. This represents a $1.52 dividend on an annualized basis and a yield of 3.25%. This is a positive change from Education Realty Trust’s previous quarterly dividend of $0.37.
In other Education Realty Trust news, Director Kimberly Schaefer purchased 1,000 shares of the stock in a transaction on Monday, May 23rd. The shares were bought at an average price of $41.60 per share, for a total transaction of $41,600.00. Following the completion of the transaction, the director now owns 2,800 shares of the company’s stock, valued at approximately $116,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Other institutional investors have modified their holdings of the company. Vanguard Group Inc. increased its position 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 worth $309,069,000 after buying an additional 1,140,432 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Education Realty Trust during the fourth quarter worth about $20,312,000. BlackRock Advisors LLC increased its position in Education Realty Trust by 22.3% in the fourth quarter. BlackRock Advisors LLC now owns 317,095 shares of the real estate investment trust’s stock valued at $12,012,000 after buying an additional 57,772 shares during the period. Wells Fargo & Company MN increased its position in Education Realty Trust by 2.5% in the fourth quarter. Wells Fargo & Company MN now owns 296,283 shares of the real estate investment trust’s stock valued at $11,223,000 after buying an additional 7,216 shares during the period. Finally, 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 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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