Education Realty Trust Inc. (EDR) Cut to “Sell” at BidaskClub
BidaskClub downgraded shares of Education Realty Trust Inc. (NYSE:EDR) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
Other analysts also recently issued reports about the company. JMP Securities downgraded Education Realty Trust from an outperform rating to a market perform rating in a research report on Wednesday, April 19th. They noted that the move was a valuation call. Royal Bank Of Canada restated a buy rating on shares of Education Realty Trust in a report on Wednesday, May 3rd. Canaccord Genuity cut Education Realty Trust from a buy rating to a hold rating and lowered their target price for the company from $46.00 to $43.00 in a report on Monday, April 10th. Bank of America Corporation cut Education Realty Trust from a buy rating to a neutral rating in a report on Friday, June 30th. Finally, FBR & Co restated a buy rating on shares of Education Realty Trust in a report on Thursday, June 22nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Education Realty Trust has a consensus rating of Hold and a consensus price target of $46.89.
Shares of Education Realty Trust (EDR) traded up 1.94% during mid-day trading on Wednesday, hitting $38.94. 731,019 shares of the stock were exchanged. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 63.84 and a beta of 0.45. The company has a 50-day moving average price of $38.90 and a 200-day moving average price of $40.13. Education Realty Trust has a 12 month low of $36.98 and a 12 month high of $48.87.
Education Realty Trust (NYSE:EDR) last issued its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by $0.35. The business had revenue of $85.80 million for the quarter, compared to analyst estimates of $78.54 million. Education Realty Trust had a return on equity of 2.47% and a net margin of 14.74%. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 earnings per share. Equities analysts expect that Education Realty Trust will post $0.53 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 4.01%. This is a boost from Education Realty Trust’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, July 27th. Education Realty Trust’s dividend payout ratio (DPR) is 249.18%.
In related news, Director Kimberly Schaefer acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $37.63 per share, for a total transaction of $37,630.00. Following the purchase, the director now owns 5,909 shares of the company’s stock, valued at approximately $222,355.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in EDR. Dimensional Fund Advisors LP boosted its position in shares of Education Realty Trust by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 935,346 shares of the real estate investment trust’s stock valued at $39,565,000 after buying an additional 70,480 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Education Realty Trust by 2.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 36,698 shares of the real estate investment trust’s stock valued at $1,552,000 after buying an additional 1,000 shares during the last quarter. Norges Bank bought a new position in shares of Education Realty Trust during the fourth quarter valued at about $30,532,000. Teachers Advisors LLC boosted its position in shares of Education Realty Trust by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 120,897 shares of the real estate investment trust’s stock valued at $5,114,000 after buying an additional 6,538 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new position in shares of Education Realty Trust during the fourth quarter valued at about $6,678,000.
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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