Education Realty Trust Inc. (EDR) Shares Down 2.9% Following Analyst Downgrade
Education Realty Trust Inc. (NYSE:EDR)’s share price fell 2.9% on Monday after Canaccord Genuity lowered their price target on the stock from $54.00 to $51.00. Canaccord Genuity currently has a buy rating on the stock. Education Realty Trust traded as low as $41.91 and last traded at $41.91, with a volume of 288,105 shares changing hands. The stock had previously closed at $43.14.
EDR has been the subject of several other research reports. Capital One Financial Corp. started coverage on Education Realty Trust in a research note on Friday, September 23rd. They issued an “equal weight” rating and a $54.00 price target for the company. Robert W. Baird raised Education Realty Trust from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $42.97 to $47.00 in a research note on Tuesday, September 20th. They noted that the move was a valuation call. Citigroup Inc. started coverage on Education Realty Trust in a research note on Wednesday, September 7th. They issued a “neutral” rating and a $46.00 price target for the company. KeyCorp set a $52.00 price target on Education Realty Trust and gave the company a “buy” rating in a research note on Monday, August 22nd. Finally, JPMorgan Chase & Co. reissued a “hold” rating and issued a $44.00 price target on shares of Education Realty Trust in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Education Realty Trust currently has a consensus rating of “Hold” and an average target price of $47.75.
In other news, Director Monte J. Barrow sold 5,000 shares of the 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 of the company’s stock, valued at $467,452. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the stock. State Street Corp boosted 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 valued at $144,770,000 after buying an additional 859,498 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake 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 valued at $235,184,000 after buying an additional 854,423 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Education Realty Trust during the second quarter valued at $36,825,000. Bank of New York Mellon Corp boosted its stake 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 valued at $163,304,000 after buying an additional 689,046 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Education Realty Trust by 12.9% in the first quarter. BlackRock Fund Advisors now owns 3,978,071 shares of the real estate investment trust’s stock valued at $165,488,000 after buying an additional 453,525 shares in the last quarter.
The company’s 50-day moving average price is $44.56 and its 200 day moving average price is $43.66. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 55.27 and a beta of 0.48.
Education Realty Trust (NYSE:EDR) last announced its earnings results on Monday, August 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.39. Education Realty Trust had a return on equity of 3.22% and a net margin of 16.30%. The business had revenue of $65.14 million for the quarter, compared to analyst estimates of $61.88 million. During the same quarter last year, the firm earned $0.41 EPS. Education Realty Trust’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts predict that Education Realty Trust Inc. will post $1.77 EPS for the current fiscal year.
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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