Education Realty Trust Inc. (EDR) Shares Gap Up to $42.97
Education Realty Trust Inc. (NYSE:EDR) gapped up before the market opened on Tuesday . The stock had previously closed at $42.62, but opened at $42.97. Education Realty Trust shares last traded at $43.62, with a volume of 320,316 shares trading hands.
EDR has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Education Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. KeyCorp set a $52.00 price target on shares of Education Realty Trust and gave the company a “buy” rating in a research report on Monday, August 22nd. JPMorgan Chase & Co. reiterated a “hold” rating and set a $44.00 price target on shares of Education Realty Trust in a research report on Wednesday, August 3rd. Canaccord Genuity lifted their price target on shares of Education Realty Trust from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Finally, Evercore ISI began coverage on shares of Education Realty Trust in a report on Monday, June 6th. They issued a “hold” rating and a $45.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $47.45.
The stock has a 50-day moving average price of $45.56 and a 200 day moving average price of $43.40. The stock has a market capitalization of $3.17 billion, a P/E ratio of 57.26 and a beta of 0.49.
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Education Realty Trust (NYSE:EDR) last issued its quarterly earnings data 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. Education Realty Trust had a net margin of 16.30% and a return on equity of 3.22%. The company earned $65.14 million during the quarter, compared to the consensus estimate of $61.88 million. During the same quarter last year, the company earned $0.41 earnings per share. Education Realty Trust’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts forecast that Education Realty Trust Inc. will post $1.77 EPS for the current fiscal year.
In other Education Realty Trust news, Director Monte J. Barrow sold 5,000 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Education Realty Trust by 3.4% in the second quarter. Vanguard Group Inc. now owns 9,788,144 shares of the real estate investment trust’s stock valued at $451,624,000 after buying an additional 320,128 shares during the period. Daiwa Securities Group Inc. increased its stake in Education Realty Trust by 20.1% in the second quarter. Daiwa Securities Group Inc. now owns 5,097,189 shares of the real estate investment trust’s stock worth $235,184,000 after buying an additional 854,423 shares during the last quarter. BlackRock Fund Advisors increased its stake in Education Realty Trust by 12.9% in the first quarter. BlackRock Fund Advisors now owns 3,978,071 shares of the real estate investment trust’s stock worth $165,488,000 after buying an additional 453,525 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Education Realty Trust by 24.2% in the second quarter. Bank of New York Mellon Corp now owns 3,539,344 shares of the real estate investment trust’s stock worth $163,304,000 after buying an additional 689,046 shares during the last quarter. Finally, State Street Corp increased its stake in Education Realty Trust by 37.7% in the second quarter. State Street Corp now owns 3,137,607 shares of the real estate investment trust’s stock worth $144,770,000 after buying an additional 859,498 shares during the last quarter.
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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