Education Realty Trust Inc. (NYSE:EDR) Announces Quarterly Earnings Results, Meets Estimates

Education Realty Trust Inc. (NYSE:EDR) posted its earnings results on Monday, July 31st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42, Bloomberg Earnings reports. Education Realty Trust had a return on equity of 1.83% and a net margin of 10.58%. The firm had revenue of $74.04 million for the quarter, compared to analyst estimates of $69.40 million. During the same quarter in the prior year, the company earned $0.39 EPS. Education Realty Trust’s revenue was up 13.7% on a year-over-year basis. Education Realty Trust updated its FY17 guidance to $1.90-2.00 EPS.

Shares of Education Realty Trust (EDR) opened at 37.73 on Friday. Education Realty Trust has a 12-month low of $36.98 and a 12-month high of $46.55. The stock’s 50 day moving average price is $38.26 and its 200-day moving average price is $39.34. The firm has a market capitalization of $2.76 billion, a P/E ratio of 87.74 and a beta of 0.44.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Education Realty Trust’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, July 27th. Education Realty Trust’s dividend payout ratio is presently 371.44%.

In related news, Director John T. Thomas bought 800 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $37.51 per share, with a total value of $30,008.00. Following the purchase, the director now directly owns 3,299 shares of the company’s stock, valued at approximately $123,745.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Edwin B. Brewer, Jr. bought 1,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $37.50 per share, with a total value of $37,500.00. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. BlackRock Inc. raised 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 period. Channing Capital Management LLC bought a new stake in shares of Education Realty Trust during the second quarter worth about $44,943,000. Bank of New York Mellon Corp raised its stake in shares of 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. Nuveen Asset Management LLC raised its stake in shares of 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 worth $38,107,000 after buying an additional 508,153 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of Education Realty Trust during the second quarter worth about $17,991,000.

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A number of research firms recently issued reports on EDR. Goldman Sachs Group, Inc. (The) raised Education Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $42.00 in a research note on Thursday, August 10th. BidaskClub lowered Education Realty Trust from a “hold” rating to a “sell” rating in a research note on Sunday, July 30th. TheStreet lowered Education Realty Trust from a “b” rating to a “c+” rating in a research note on Monday, July 31st. Bank of America Corporation lowered Education Realty Trust from a “buy” rating to a “neutral” rating in a research note on Friday, June 30th. Finally, Sandler O’Neill lowered Education Realty Trust from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.00 to $40.00 in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Education Realty Trust has an average rating of “Hold” and an average target price of $45.22.

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.

Earnings History for Education Realty Trust (NYSE:EDR)

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