Analysts Anticipate Education Realty Trust Inc. (NYSE:EDR) Will Announce Quarterly Sales of $72.51 Million
Analysts forecast that Education Realty Trust Inc. (NYSE:EDR) will announce sales of $72.51 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Education Realty Trust’s earnings, with the highest sales estimate coming in at $74.38 million and the lowest estimate coming in at $70.63 million. Education Realty Trust posted sales of $65.14 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.3%. The firm is expected to issue its next earnings report before the market opens on Monday, July 31st.
On average, analysts expect that Education Realty Trust will report full year sales of $72.51 million for the current financial year, with estimates ranging from $306.28 million to $313.58 million. For the next financial year, analysts expect that the firm will report sales of $316.39 million per share, with estimates ranging from $312.13 million to $320.65 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Education Realty Trust.
Education Realty Trust (NYSE:EDR) last posted its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.35. The firm had revenue of $85.80 million during the quarter, compared to analyst estimates of $78.54 million. Education Realty Trust had a net margin of 14.74% and a return on equity of 2.47%. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 earnings per share.
EDR has been the subject of a number of analyst reports. Citigroup Inc. cut Education Realty Trust from a “buy” rating to a “neutral” rating and cut their price target for the stock from $44.00 to $41.00 in a report on Thursday, June 29th. Evercore ISI cut their price target on Education Realty Trust from $41.00 to $38.00 and set an “underperform” rating for the company in a report on Tuesday, May 2nd. Canaccord Genuity cut their price target on Education Realty Trust from $43.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, May 2nd. BidaskClub raised Education Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Finally, Zacks Investment Research cut Education Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $46.89.
Shares of Education Realty Trust (NYSE:EDR) traded up 2.01% during mid-day trading on Wednesday, reaching $39.58. The company’s stock had a trading volume of 253,168 shares. The company’s 50-day moving average is $38.97 and its 200 day moving average is $39.87. Education Realty Trust has a 1-year low of $36.98 and a 1-year high of $48.87. The firm has a market capitalization of $2.90 billion, a P/E ratio of 64.89 and a beta of 0.45.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Thursday, July 27th. This is an increase from Education Realty Trust’s previous quarterly dividend of $0.38. Education Realty Trust’s payout ratio is 249.18%.
In other news, Director Kimberly Schaefer purchased 1,000 shares of the stock in a transaction on Wednesday, May 17th. The stock was purchased at an average price of $37.63 per share, with a total value of $37,630.00. Following the completion of the transaction, the director now owns 5,909 shares in the company, valued at $222,355.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Education Realty Trust by 2.6% in the first quarter. Vanguard Group Inc. now owns 11,605,728 shares of the real estate investment trust’s stock worth $474,095,000 after buying an additional 294,760 shares during the period. BlackRock Inc. increased its stake in Education Realty Trust by 6,848.8% in the first quarter. BlackRock Inc. now owns 9,549,792 shares of the real estate investment trust’s stock worth $390,108,000 after buying an additional 9,412,361 shares during the period. Daiwa Securities Group Inc. increased its stake in Education Realty Trust by 0.3% in the first quarter. Daiwa Securities Group Inc. now owns 5,224,910 shares of the real estate investment trust’s stock worth $213,437,000 after buying an additional 13,942 shares during the period. Alliancebernstein L.P. increased its stake in Education Realty Trust by 9.1% in the first quarter. Alliancebernstein L.P. now owns 3,193,120 shares of the real estate investment trust’s stock worth $130,439,000 after buying an additional 267,456 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Education Realty Trust by 27.2% in the first quarter. Bank of New York Mellon Corp now owns 2,828,545 shares of the real estate investment trust’s stock worth $115,545,000 after buying an additional 604,412 shares during the period.
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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