Education Realty Trust (EDR) Lowered to “Underweight” at J P Morgan Chase & Co

J P Morgan Chase & Co lowered shares of Education Realty Trust (NYSE:EDR) from a neutral rating to an underweight rating in a research report report published on Friday.

A number of other analysts also recently issued reports on the stock. B. Riley set a $44.00 price target on shares of Education Realty Trust and gave the company a buy rating in a report on Tuesday, November 14th. Royal Bank of Canada reduced their price target on shares of Education Realty Trust from $43.00 to $40.00 and set an outperform rating on the stock in a report on Wednesday, November 8th. KeyCorp reiterated a buy rating and issued a $47.00 price target on shares of Education Realty Trust in a report on Wednesday, September 6th. Robert W. Baird reiterated an outperform rating and issued a $40.00 price target (down from $45.00) on shares of Education Realty Trust in a report on Monday, October 2nd. Finally, FBR & Co reiterated a buy rating and issued a $44.00 price target on shares of Education Realty Trust in a report on Monday, October 30th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $41.60.

Shares of Education Realty Trust (NYSE:EDR) remained flat at $$36.20 during midday trading on Friday. 1,779,825 shares of the company’s stock were exchanged, compared to its average volume of 478,086. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $2,742.26, a P/E ratio of 19.05, a P/E/G ratio of 3.18 and a beta of 0.44. Education Realty Trust has a 52 week low of $34.67 and a 52 week high of $42.80.

Education Realty Trust (NYSE:EDR) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.31). The company had revenue of $75.36 million during the quarter, compared to the consensus estimate of $69.22 million. Education Realty Trust had a net margin of 11.33% and a return on equity of 2.01%. The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. analysts forecast that Education Realty Trust will post 1.9 EPS for the current year.

In other Education Realty Trust news, VP Edwin B. Brewer, Jr. bought 5,000 shares of Education Realty Trust stock in a transaction dated Thursday, November 2nd. The shares were purchased at an average cost of $35.01 per share, for a total transaction of $175,050.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Randy L. Churchey bought 20,000 shares of Education Realty Trust stock in a transaction dated Wednesday, November 1st. The stock was acquired at an average price of $35.01 per share, for a total transaction of $700,200.00. Following the completion of the acquisition, the chairman now owns 149,506 shares in the company, valued at $5,234,205.06. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of EDR. Deprince Race & Zollo Inc. bought a new stake in shares of Education Realty Trust in the 2nd quarter worth about $17,991,000. Goldman Sachs Group Inc. increased its holdings in shares of Education Realty Trust by 103.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 534,297 shares of the real estate investment trust’s stock worth $20,704,000 after buying an additional 271,415 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Education Realty Trust by 57.5% in the 2nd quarter. William Blair Investment Management LLC now owns 637,144 shares of the real estate investment trust’s stock worth $24,689,000 after buying an additional 232,500 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in Education Realty Trust during the 3rd quarter valued at about $8,084,000. Finally, Channing Capital Management LLC grew its holdings in Education Realty Trust by 15.6% during the 3rd quarter. Channing Capital Management LLC now owns 1,340,581 shares of the real estate investment trust’s stock valued at $48,167,000 after purchasing an additional 180,768 shares during the last quarter.

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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.

Analyst Recommendations for Education Realty Trust (NYSE:EDR)

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