Education Realty Trust Inc. (EDR) Downgraded by Zacks Investment Research
Education Realty Trust Inc. (NYSE:EDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “
Other equities analysts have also issued research reports about the stock. 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. KeyCorp set a $52.00 target price on shares of Education Realty Trust and gave the company a “buy” rating in a research note on Monday, August 22nd. Citigroup Inc. raised shares of Education Realty Trust from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, October 4th. Capital One Financial Corp. started coverage on shares of Education Realty Trust in a research note on Friday, September 23rd. They issued an “equal weight” rating and a $54.00 target price on the stock. Finally, JPMorgan Chase & Co. reissued a “hold” rating and issued a $44.00 target price on shares of Education Realty Trust in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $47.75.
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Education Realty Trust (NYSE:EDR) traded down 0.44% during mid-day trading on Monday, hitting $40.55. The stock had a trading volume of 540,195 shares. The company has a 50 day moving average price of $43.81 and a 200-day moving average price of $43.65. Education Realty Trust has a one year low of $32.90 and a one year high of $48.87. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 53.43 and a beta of 0.48.
Education Realty Trust (NYSE:EDR) last announced its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39. The company had revenue of $65.14 million for the quarter, compared to analyst estimates of $61.88 million. Education Realty Trust had a net margin of 16.30% and a return on equity of 3.22%. Education Realty Trust’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the business earned $0.41 EPS. Equities analysts expect that Education Realty Trust will post $1.77 earnings per share for the current fiscal year.
In other news, Director Monte J. Barrow sold 5,000 shares of the business’s stock in a transaction dated 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 approximately $467,452. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. 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 valued at $144,770,000 after buying an additional 859,498 shares during the last quarter. 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 valued at $235,184,000 after buying an additional 854,423 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Education Realty Trust during the second quarter valued at $36,825,000. 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 valued at $163,304,000 after buying an additional 689,046 shares during the last quarter. Finally, 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 valued at $165,488,000 after buying an additional 453,525 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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