State of New Jersey Common Pension Fund D raised its stake in shares of Education Realty Trust Inc. (NYSE:EDR) by 15.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,000 shares of the real estate investment trust’s stock after buying an additional 15,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Education Realty Trust were worth $4,456,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in EDR. BlackRock Inc. increased its position 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 valued at $390,108,000 after buying an additional 9,412,361 shares during the period. Channing Capital Management LLC acquired a new position in shares of Education Realty Trust during the second quarter valued at approximately $44,943,000. Bank of New York Mellon Corp increased its position 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 valued at $115,545,000 after buying an additional 604,412 shares during the period. Nuveen Asset Management LLC increased its position 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 valued at $38,107,000 after buying an additional 508,153 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of 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 valued at $474,095,000 after buying an additional 294,760 shares during the period.
Shares of Education Realty Trust Inc. (NYSE:EDR) opened at 38.24 on Tuesday. Education Realty Trust Inc. has a 12 month low of $36.98 and a 12 month high of $46.81. The company has a market cap of $2.80 billion, a P/E ratio of 88.93 and a beta of 0.44. The company’s 50-day moving average price is $38.47 and its 200-day moving average price is $39.39.
Education Realty Trust (NYSE:EDR) last posted its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The firm had revenue of $74.04 million for the quarter, compared to the consensus estimate of $69.40 million. Education Realty Trust had a return on equity of 1.83% and a net margin of 10.58%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. Equities analysts forecast that Education Realty Trust Inc. will post $0.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend 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 currently 371.44%.
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A number of research firms have recently issued reports on EDR. Citigroup Inc. downgraded Education Realty Trust from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $44.00 to $41.00 in a research report on Thursday, June 29th. Zacks Investment Research downgraded Education Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Evercore ISI dropped their price target on Education Realty Trust from $41.00 to $38.00 and set an “underperform” rating on the stock in a research report on Tuesday, May 2nd. Canaccord Genuity dropped their price target on Education Realty Trust from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, May 2nd. Finally, FBR & Co reissued a “buy” rating on shares of Education Realty Trust in a research report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, seven 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 target price of $45.22.
In related news, Director Kimberly Schaefer bought 1,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average cost of $37.63 per share, with a total value of $37,630.00. Following the purchase, the director now directly owns 5,909 shares of the company’s stock, valued at approximately $222,355.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Thomas bought 800 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average cost of $37.51 per share, with a total value of $30,008.00. Following the completion of the purchase, the director now directly owns 3,299 shares in the company, valued at $123,745.49. The disclosure for this purchase can be found here. Insiders purchased a total of 2,800 shares of company stock worth $105,138 in the last quarter. Company insiders own 0.50% of the company’s stock.
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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