Education Realty Trust Inc. (EDR) Upgraded to Outperform at Robert W. Baird
Robert W. Baird upgraded shares of Education Realty Trust Inc. (NYSE:EDR) from a neutral rating to an outperform rating in a research report released on Tuesday morning. Robert W. Baird currently has $47.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $42.97. The analysts noted that the move was a valuation call.
Several other equities analysts have also recently issued reports on EDR. Canaccord Genuity set a $54.00 price objective on Education Realty Trust and gave the company a buy rating in a report on Sunday, September 11th. Zacks Investment Research cut Education Realty Trust from a buy rating to a hold rating in a report on Wednesday, August 3rd. FBR & Co upped their price target on Education Realty Trust from $48.00 to $51.00 and gave the stock an outperform rating in a report on Tuesday, August 2nd. Hilliard Lyons cut Education Realty Trust from a neutral rating to an underperform rating in a report on Friday, July 1st. Finally, Citigroup Inc. initiated coverage on Education Realty Trust in a report on Wednesday, September 7th. They issued a neutral rating and a $46.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $47.45.
Shares of Education Realty Trust (NYSE:EDR) opened at 43.46 on Tuesday. Education Realty Trust has a 1-year low of $30.77 and a 1-year high of $48.87. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 57.26 and a beta of 0.49. The stock has a 50 day moving average price of $45.42 and a 200 day moving average price of $43.42.
Education Realty Trust (NYSE:EDR) last issued its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The business earned $65.14 million during the quarter, compared to analysts’ expectations of $61.88 million. Education Realty Trust had a return on equity of 3.22% and a net margin of 16.30%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, equities analysts anticipate that Education Realty Trust will post $1.77 EPS for the current fiscal year.
In other news, Director Monte J. Barrow sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the sale, the director now directly owns 10,162 shares in the company, valued at $467,452. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Education Realty Trust by 37.7% in the second quarter. State Street Corp now owns 3,137,607 shares of the real estate investment trust’s stock worth $144,770,000 after buying an additional 859,498 shares during the period. Daiwa Securities Group Inc. boosted its position in Education Realty Trust by 20.1% in the second quarter. Daiwa Securities Group Inc. now owns 5,097,189 shares of the real estate investment trust’s stock worth $235,184,000 after buying an additional 854,423 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Education Realty Trust during the second quarter worth approximately $36,825,000. Bank of New York Mellon Corp boosted its position in Education Realty Trust by 24.2% in the second quarter. Bank of New York Mellon Corp now owns 3,539,344 shares of the real estate investment trust’s stock worth $163,304,000 after buying an additional 689,046 shares in the last quarter. Finally, Norges Bank acquired a new position in Education Realty Trust during the fourth quarter worth approximately $19,130,000.
Education Realty Trust Company Profile
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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