Education Realty Trust Inc. (EDR) Announces $0.38 Quarterly Dividend
Education Realty Trust Inc. (NYSE:EDR) declared a quarterly dividend on Friday, October 14th. Investors of record on Monday, October 31st will be paid a dividend of 0.38 per share by the real estate investment trust on Tuesday, November 15th. This represents a $1.52 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Thursday, October 27th.
Shares of Education Realty Trust (NYSE:EDR) traded down 0.72% during trading on Friday, reaching $41.27. The company had a trading volume of 338,289 shares. The firm has a 50-day moving average of $43.39 and a 200-day moving average of $43.59. The company has a market cap of $3.01 billion, a P/E ratio of 54.37 and a beta of 0.48. Education Realty Trust has a 12-month low of $33.67 and a 12-month high of $48.87.
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, meeting the Thomson Reuters’ consensus estimate of $0.39. The company had revenue of $65.14 million for the quarter, compared to the consensus estimate of $61.88 million. Education Realty Trust had a return on equity of 3.22% and a net margin of 16.30%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. On average, equities research analysts anticipate that Education Realty Trust will post $1.77 EPS for the current year.
In other news, Director Monte J. Barrow sold 5,000 shares of Education Realty Trust 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 $467,452. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of EDR. AQR Capital Management LLC boosted its position in Education Realty Trust by 112.3% in the second quarter. AQR Capital Management LLC now owns 64,802 shares of the real estate investment trust’s stock worth $2,990,000 after buying an additional 34,278 shares during the period. Silvercrest Asset Management Group LLC boosted its position in Education Realty Trust by 24.2% in the second quarter. Silvercrest Asset Management Group LLC now owns 101,300 shares of the real estate investment trust’s stock valued at $4,674,000 after buying an additional 19,740 shares during the period. Guggenheim Capital LLC boosted its position in Education Realty Trust by 95.4% in the second quarter. Guggenheim Capital LLC now owns 290,879 shares of the real estate investment trust’s stock valued at $13,421,000 after buying an additional 142,003 shares during the period. Barclays PLC boosted its position in Education Realty Trust by 0.8% in the second quarter. Barclays PLC now owns 64,157 shares of the real estate investment trust’s stock valued at $2,961,000 after buying an additional 482 shares during the period. Finally, Visium Asset Management LP bought a new position in Education Realty Trust during the second quarter valued at $1,097,000.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Education Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday. Citigroup Inc. raised Education Realty Trust from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Tuesday, October 4th. Canaccord Genuity decreased their target price on Education Realty Trust from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, October 3rd. Capital One Financial Corp. assumed coverage on Education Realty Trust in a research report on Friday, September 23rd. They set an “equal weight” rating and a $54.00 target price on the stock. Finally, Robert W. Baird raised Education Realty Trust from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $42.97 to $47.00 in a research report on Tuesday, September 20th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $47.75.
About Education Realty Trust
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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