Education Realty Trust Inc. (EDR) Announces Earnings Results
Education Realty Trust Inc. (NYSE:EDR) released its quarterly earnings results on Monday. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.31), Yahoo Finance reports. The company had revenue of $75.36 million during the quarter, compared to analysts’ expectations of $69.22 million. Education Realty Trust had a return on equity of 1.83% and a net margin of 10.58%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 EPS.
Shares of Education Realty Trust (NYSE:EDR) traded down 0.83% during trading on Tuesday, hitting $34.85. The company’s stock had a trading volume of 157,814 shares. Education Realty Trust has a 1-year low of $34.67 and a 1-year high of $42.80. The company has a market capitalization of $2.55 billion, a P/E ratio of 81.05 and a beta of 0.45. The firm’s 50 day moving average is $37.11 and its 200-day moving average is $38.27.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Monday, October 30th. Education Realty Trust’s payout ratio is 371.44%.
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In other Education Realty Trust news, VP Edwin B. Brewer, Jr. bought 1,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $37.50 per share, with a total value of $37,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wendell W. Weakley bought 750 shares of the stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average cost of $38.65 per share, for a total transaction of $28,987.50. The disclosure for this purchase can be found here. Insiders acquired a total of 2,550 shares of company stock worth $96,496 in the last ninety days. Insiders own 0.50% of the company’s stock.
A number of research firms have weighed in on EDR. FBR & Co restated a “buy” rating and issued a $44.00 price target on shares of Education Realty Trust in a report on Monday. BidaskClub upgraded Education Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Robert W. Baird restated an “outperform” rating and issued a $40.00 price target (down previously from $45.00) on shares of Education Realty Trust in a report on Monday, October 2nd. Goldman Sachs Group, Inc. (The) upgraded Education Realty Trust from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $42.00 in a report on Thursday, August 10th. Finally, TheStreet cut Education Realty Trust from a “b” rating to a “c+” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Education Realty Trust currently has an average rating of “Hold” and a consensus price target of $41.75.
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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