Education Realty Trust Inc. (NYSE:EDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to 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. “
A number of other equities analysts also recently issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $51.00 price target (up from $45.00) on shares of Education Realty Trust in a research report on Monday, July 11th. KeyCorp set a $52.00 price target on shares of Education Realty Trust and gave the company a “buy” rating in a report 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 price target on the stock in a report on Tuesday, October 4th. Capital One Financial Corp. initiated coverage on shares of Education Realty Trust in a report on Friday, September 23rd. They issued an “equal weight” rating and a $54.00 price target on the stock. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $44.00 price target on shares of Education Realty Trust in a report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $47.75.
Education Realty Trust (NYSE:EDR) opened at 39.95 on Monday. Education Realty Trust has a 1-year low of $32.90 and a 1-year high of $48.87. The stock has a 50 day moving average price of $43.64 and a 200-day moving average price of $43.62. The stock has a market capitalization of $2.92 billion, a P/E ratio of 52.64 and a beta of 0.48.
Education Realty Trust (NYSE:EDR) last issued its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The company earned $65.14 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Equities research analysts expect that Education Realty Trust will post $1.77 EPS for the current year.
In other news, Director Monte J. Barrow sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the sale, the director now directly owns 10,162 shares in the company, valued at approximately $467,452. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in EDR. State Street Corp raised its stake in shares of 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 in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of 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 in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Education Realty Trust during the second quarter valued at approximately $36,825,000. Bank of New York Mellon Corp raised its stake in shares of 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 in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of 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 in 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Education Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Education Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.