Education Realty Trust Inc. (EDR) Sees Significant Growth in Short Interest
Education Realty Trust Inc. (NYSE:EDR) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 6,571,591 shares, a growth of 53.6% from the September 15th total of 4,279,712 shares. Based on an average daily volume of 667,493 shares, the short-interest ratio is currently 9.8 days. Currently, 9.0% of the company’s shares are sold short.
In other Education Realty Trust news, Director Monte J. Barrow sold 5,000 shares of the company’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 sale, the director now owns 10,162 shares of the company’s stock, valued at $467,452. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of EDR. UBS Group AG increased its position in shares of Education Realty Trust by 394.4% in the first quarter. UBS Group AG now owns 70,046 shares of the real estate investment trust’s stock worth $2,914,000 after buying an additional 55,877 shares during the period. State Street Corp raised its stake in Education Realty Trust by 31.5% in the first quarter. State Street Corp now owns 2,278,109 shares of the real estate investment trust’s stock valued at $94,770,000 after buying an additional 545,987 shares in the last quarter. Credit Agricole S A raised its stake in Education Realty Trust by 1.8% in the first quarter. Credit Agricole S A now owns 22,550 shares of the real estate investment trust’s stock valued at $938,000 after buying an additional 400 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Education Realty Trust during the first quarter valued at $1,344,000. Finally, BlackRock Japan Co. Ltd raised its stake 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 in the last quarter.
Shares of Education Realty Trust (NYSE:EDR) opened at 41.44 on Tuesday. Education Realty Trust has a 52 week low of $34.00 and a 52 week high of $48.87. The firm has a market cap of $3.03 billion, a PE ratio of 54.60 and a beta of 0.48. The firm has a 50-day moving average of $43.15 and a 200-day moving average of $43.62.
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, hitting the Zacks’ consensus estimate 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 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 company earned $0.41 EPS. On average, analysts expect that Education Realty Trust will post $1.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.67%. Education Realty Trust’s dividend payout ratio (DPR) is currently 220.29%.
Several equities research analysts have recently issued reports on the stock. Canaccord Genuity set a $54.00 price objective on shares of Education Realty Trust and gave the stock a “buy” rating in a research report on Sunday, September 11th. Robert W. Baird raised 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 report on Tuesday, September 20th. They noted that the move was a valuation call. 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 report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of Education Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, October 10th. Finally, JPMorgan Chase & Co. reissued a “hold” rating and set a $44.00 price objective on shares of Education Realty Trust in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Education Realty Trust has an average rating of “Hold” and a consensus price target 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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