Education Realty Trust Inc. (EDR) Downgraded by Zacks Investment Research to Sell
Education Realty Trust Inc. (NYSE:EDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.
According to Zacks, “Education Realty Trust owns, manages, and develops student housing communities located near university campuses throughout the United States. EDR will elect to be taxed as a real estate investment trust. EDR also manages student housing communities for college and university systems across the country. “
Several other equities analysts have also recently issued reports on EDR. FBR & Co started coverage on Education Realty Trust in a report on Thursday, June 23rd. They issued an “outperform” rating and a $48.00 price target on the stock. Hilliard Lyons cut Education Realty Trust from a “neutral” rating to an “underperform” rating in a report on Friday, July 1st. 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. 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. Finally, KeyCorp set a $52.00 target price on Education Realty Trust and gave the company a “buy” rating in a research note on Monday, August 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $47.75.
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Education Realty Trust (NYSE:EDR) traded down 0.44% during trading on Monday, reaching $40.55. The company’s stock had a trading volume of 540,195 shares. Education Realty Trust has a 52 week low of $32.90 and a 52 week high of $48.87. The stock’s 50 day moving average is $43.91 and its 200-day moving average is $43.67. The firm has a market cap of $2.96 billion, a P/E ratio of 53.43 and a beta of 0.48.
Education Realty Trust (NYSE:EDR) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $65.14 million for the quarter, compared to analysts’ expectations of $61.88 million. Education Realty Trust had a return on equity of 3.22% and a net margin of 16.30%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. On average, equities research analysts forecast that Education Realty Trust will post $1.77 earnings per share for the current fiscal year.
In related news, Director Monte J. Barrow sold 5,000 shares of Education Realty Trust stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the sale, the director now owns 10,162 shares of the company’s stock, valued at approximately $467,452. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in EDR. BlackRock Japan Co. Ltd raised its stake in shares of Education Realty Trust by 3.0% in the second quarter. BlackRock Japan Co. Ltd now owns 3,370 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 97 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Education Realty Trust by 0.9% in the second quarter. Advisors Asset Management Inc. now owns 14,688 shares of the real estate investment trust’s stock worth $678,000 after buying an additional 125 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Education Realty Trust by 2.5% in the second quarter. Profund Advisors LLC now owns 8,464 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 210 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Education Realty Trust by 7.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 238 shares in the last quarter. Finally, Credit Agricole S A raised its stake in shares of 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 worth $938,000 after buying an additional 400 shares in the last quarter.
Education Realty Trust Company Profile
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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