Education Realty Trust Inc. (EDR) Price Target Cut to $51.00
Education Realty Trust Inc. (NYSE:EDR) had its target price reduced by equities research analysts at Canaccord Genuity from $54.00 to $51.00 in a note issued to investors on Monday, StockTargetPrices.com reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity’s price target suggests a potential upside of 18.22% from the stock’s current price.
A number of other brokerages also recently issued reports on EDR. JPMorgan Chase & Co. reiterated a “hold” rating and set a $44.00 price objective on shares of Education Realty Trust in a research note on Wednesday, August 3rd. FBR & Co increased their price objective on shares of Education Realty Trust from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. KeyCorp set a $52.00 price objective on shares of Education Realty Trust and gave the stock a “buy” rating in a research note on Monday, August 22nd. Robert W. Baird upgraded shares of Education Realty Trust from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $42.97 to $47.00 in a research note on Tuesday, September 20th. They noted that the move was a valuation call. Finally, Citigroup Inc. initiated coverage on shares of Education Realty Trust in a research note on Wednesday, September 7th. They set a “neutral” rating and a $46.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.75.
Education Realty Trust (NYSE:EDR) opened at 43.14 on Monday. Education Realty Trust has a 52 week low of $32.90 and a 52 week high of $48.87. The company has a market capitalization of $3.15 billion, a P/E ratio of 56.84 and a beta of 0.48. The firm has a 50 day moving average of $44.71 and a 200-day moving average of $43.62.
Education Realty Trust (NYSE:EDR) last announced its quarterly earnings data 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. The firm had revenue of $65.14 million for the quarter, compared to the consensus estimate of $61.88 million. Education Realty Trust had a net margin of 16.30% and a return on equity of 3.22%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. On average, analysts forecast that Education Realty Trust will post $1.77 earnings per share for the current year.
In related news, Director Monte J. Barrow sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 10,162 shares in the company, valued at approximately $467,452. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EDR. Tower Research Capital LLC TRC purchased a new position in Education Realty Trust during the second quarter valued at about $130,000. BlackRock Japan Co. Ltd raised its position in Education Realty Trust by 13.1% in the first quarter. BlackRock Japan Co. Ltd now owns 3,273 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 379 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Education Realty Trust by 7.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 238 shares during the last quarter. LS Investment Advisors LLC raised its position in Education Realty Trust by 84.7% in the second quarter. LS Investment Advisors LLC now owns 3,997 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 1,833 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Education Realty Trust during the second quarter valued at about $207,000.
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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