Education Realty Trust Inc. (EDR) Sees Strong Trading Volume
Education Realty Trust Inc. (NYSE:EDR) shares saw unusually-high trading volume on Wednesday . Approximately 2,466,684 shares were traded during mid-day trading, an increase of 79% from the previous session’s volume of 1,376,113 shares.The stock last traded at $45.31 and had previously closed at $45.35.
EDR has been the topic of several research reports. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $44.00 price target on shares of Education Realty Trust in a report on Wednesday, August 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $51.00 price target (up previously from $45.00) on shares of Education Realty Trust in a report on Monday, July 11th. FBR & Co increased their price target on shares of Education Realty Trust from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. KeyCorp set a $52.00 price target on shares of Education Realty Trust and gave the stock a “buy” rating in a report on Monday, August 22nd. Finally, Zacks Investment Research upgraded shares of Education Realty Trust from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.70.
The stock’s 50-day moving average price is $46.65 and its 200 day moving average price is $43.01. The firm has a market cap of $3.31 billion and a PE ratio of 59.70.
Education Realty Trust (NYSE:EDR) last posted its earnings results on Monday, August 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The company earned $65.14 million during the quarter, compared to analyst estimates of $61.88 million. Education Realty Trust’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. Equities research analysts expect that Education Realty Trust Inc. will post $1.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were issued a $0.38 dividend. This is a boost from Education Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Wednesday, July 27th.
In related news, Director Monte J. Barrow sold 5,000 shares of the stock in a transaction dated 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 transaction, the director now owns 10,162 shares of the company’s stock, valued at $467,452. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
An institutional investor recently raised its position in Education Realty Trust stock. Wells Fargo & Company MN raised its position in shares of Education Realty Trust Inc. (NYSE:EDR) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,283 shares of the real estate investment trust’s stock after buying an additional 7,216 shares during the period. Wells Fargo & Company MN owned approximately 0.61% of Education Realty Trust worth $11,223,000 at the end of the most recent reporting period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.