Education Realty Trust Inc. (NYSE:EDR) Expected to Announce Earnings of $0.31 Per Share
Wall Street brokerages forecast that Education Realty Trust Inc. (NYSE:EDR) will announce earnings of $0.31 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Education Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.33. Education Realty Trust posted earnings per share of $0.26 in the same quarter last year, which indicates a positive year-over-year growth rate of 19.2%. The business is expected to issue its next earnings results on Monday, October 30th.
According to Zacks, analysts expect that Education Realty Trust will report full year earnings of $1.92 per share for the current year, with EPS estimates ranging from $1.91 to $1.93. For the next financial year, analysts expect that the company will report earnings of $2.05 per share, with EPS estimates ranging from $1.94 to $2.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Education Realty Trust.
Education Realty Trust (NYSE:EDR) last issued its earnings results on Monday, July 31st. The real estate investment trust reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. Education Realty Trust had a net margin of 10.58% and a return on equity of 1.83%. The business had revenue of $74.04 million for the quarter, compared to the consensus estimate of $69.40 million. During the same quarter last year, the firm posted $0.39 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year.
A number of analysts have issued reports on EDR shares. Zacks Investment Research cut shares of Education Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Evercore ISI reduced their target price on shares of Education Realty Trust from $41.00 to $38.00 and set an “underperform” rating for the company in a research note on Tuesday, May 2nd. Canaccord Genuity reduced their target price on shares of Education Realty Trust from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, May 2nd. Citigroup Inc. cut shares of Education Realty Trust from a “buy” rating to a “neutral” rating and reduced their target price for the company from $44.00 to $41.00 in a research note on Thursday, June 29th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Education Realty Trust in a research note on Wednesday, May 3rd. 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. The company has an average rating of “Hold” and a consensus price target of $45.63.
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Shares of Education Realty Trust (NYSE EDR) traded up 0.37% during trading on Friday, hitting $37.68. 337,202 shares of the stock were exchanged. Education Realty Trust has a 12-month low of $36.98 and a 12-month high of $47.57. The stock’s 50 day moving average is $38.98 and its 200-day moving average is $39.65. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 87.63 and a beta of 0.44.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.14%. This is a boost from Education Realty Trust’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, July 27th. Education Realty Trust’s payout ratio is presently 371.44%.
In other news, Director John T. Thomas acquired 800 shares of Education Realty Trust stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average cost of $37.51 per share, for a total transaction of $30,008.00. Following the completion of the purchase, the director now owns 3,299 shares of the company’s stock, valued at $123,745.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Edwin B. Brewer, Jr. acquired 1,000 shares of Education Realty Trust stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average price of $37.50 per share, with a total value of $37,500.00. The disclosure for this purchase can be found here. Insiders bought 2,800 shares of company stock valued at $105,138 over the last 90 days. 0.50% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of 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 last quarter. Channing Capital Management LLC bought a new position in Education Realty Trust during the second quarter valued at approximately $44,943,000. Bank of New York Mellon Corp boosted its position 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 valued at $115,545,000 after buying an additional 604,412 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Education Realty Trust by 119.6% in the first quarter. Nuveen Asset Management LLC now owns 932,855 shares of the real estate investment trust’s stock valued at $38,107,000 after buying an additional 508,153 shares during the last quarter. Finally, Deprince Race & Zollo Inc. bought a new position in Education Realty Trust during the second quarter valued at approximately $17,991,000.
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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