Insider Buying: Education Realty Trust Director Buys 5,000 Shares of Stock (EDR)
Education Realty Trust (NYSE:EDR) Director Wendell W. Weakley purchased 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $10.47 per share, with a total value of $52,350.00. Following the completion of the acquisition, the director now directly owns 88,008 shares of the company’s stock, valued at approximately $921,444. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Education Realty Trust (NYSE:EDR) traded down 0.85% during mid-day trading on Tuesday, hitting $10.50. The stock had a trading volume of 1,451,974 shares. Education Realty Trust has a 1-year low of $8.30 and a 1-year high of $11.31. The stock has a 50-day moving average of $10.79 and a 200-day moving average of $10.11. The company has a market cap of $1.465 billion and a price-to-earnings ratio of 2647.50. Education Realty Trust also saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 7,517,826 shares, a growth of 72.4% from the July 15th total of 4,359,763 shares. Currently, 5.4% of the shares of the company are sold short. Based on an average daily volume of 4,736,258 shares, the short-interest ratio is presently 1.6 days.
Education Realty Trust (NYSE:EDR) last announced its earnings results on Monday, July 28th. The company reported $0.15 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.15. The company had revenue of $50.04 million for the quarter, compared to the consensus estimate of $47.00 million. During the same quarter last year, the company posted $0.13 earnings per share. Education Realty Trust’s revenue was up 21.8% compared to the same quarter last year. Analysts expect that Education Realty Trust will post $0.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Tuesday, July 29th. This is a positive change from Education Realty Trust’s previous quarterly dividend of $0.11.
A number of analysts have recently weighed in on EDR shares. Analysts at JPMorgan Chase & Co. raised their price target on shares of Education Realty Trust from $11.00 to $12.00 in a research note on Tuesday. Analysts at Bank of America upgraded shares of Education Realty Trust from a “neutral” rating to a “buy” rating in a research note on Friday, June 13th. They now have a $11.00 price target on the stock. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $10.75.
Education Realty Trust, Inc (NYSE:EDR) is a self-managed and self-advised real estate investment trust (REIT).
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