Education Realty Trust Inc. (EDR) Shares Down 2.6%
Education Realty Trust Inc. (NYSE:EDR) shares fell 2.6% on Tuesday . The company traded as low as $45.69 and last traded at $45.71, with a volume of 159,389 shares. The stock had previously closed at $46.94.
A number of brokerages have weighed in on EDR. FBR & Co reissued a “buy” rating on shares of Education Realty Trust in a research note on Tuesday, May 3rd. Zacks Investment Research upgraded Education Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Goldman Sachs Group Inc. upgraded Education Realty Trust from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $32.00 to $42.00 in a report on Monday, April 25th. JPMorgan Chase & Co. restated a “hold” rating and set a $44.00 price objective on shares of Education Realty Trust in a report on Wednesday, August 3rd. Finally, Canaccord Genuity upped their price objective on Education Realty Trust from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $46.11.
The stock’s 50 day moving average is $46.77 and its 200 day moving average is $42.43. The company has a market capitalization of $3.33 billion and a PE ratio of 60.11.
Education Realty Trust (NYSE:EDR) last posted its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. During the same period in the prior year, the business posted $0.41 EPS. The firm earned $65.14 million during the quarter, compared to analyst estimates of $61.88 million. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts anticipate that Education Realty Trust Inc. will post $1.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.33%. This is a boost from Education Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, July 27th.
In other news, Director Kimberly Schaefer acquired 1,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 2,800 shares of the company’s stock, valued at approximately $116,480. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
A number of institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new position in Education Realty Trust during the fourth quarter worth approximately $20,312,000. Wells Fargo & Company MN raised its stake in shares of 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 worth $11,223,000 after buying an additional 7,216 shares during the period. Employees Retirement System of Texas raised its stake in shares of 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 worth $7,529,000 after buying an additional 15,000 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of 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 worth $3,220,000 after buying an additional 10,000 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Education Realty Trust by 2.4% in the fourth quarter. New York State Common Retirement Fund now owns 73,100 shares of the real estate investment trust’s stock worth $2,769,000 after buying an additional 1,700 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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