Brokerages expect that Education Realty Trust, Inc. (NYSE:EDR) will announce sales of $87.34 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Education Realty Trust’s earnings, with the highest sales estimate coming in at $90.70 million and the lowest estimate coming in at $81.90 million. Education Realty Trust reported sales of $84.22 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.7%. The company is scheduled to issue its next earnings report on Tuesday, February 20th.
On average, analysts expect that Education Realty Trust will report full-year sales of $87.34 million for the current year, with estimates ranging from $303.84 million to $319.47 million. For the next year, analysts anticipate that the company will report sales of $324.44 million per share, with estimates ranging from $300.84 million to $338.27 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Education Realty Trust.
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 for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.31). Education Realty Trust had a net margin of 11.33% and a return on equity of 2.01%. The company had revenue of $75.36 million for the quarter, compared to the consensus estimate of $69.22 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis.
Several research analysts recently weighed in on EDR shares. Royal Bank of Canada decreased their price objective on shares of Education Realty Trust from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. B. Riley set a $44.00 price objective on shares of Education Realty Trust and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird set a $38.00 price objective on shares of Education Realty Trust and gave the stock a “buy” rating in a research report on Tuesday, October 31st. KeyCorp restated a “buy” rating and issued a $40.00 price objective on shares of Education Realty Trust in a research report on Thursday, December 21st. Finally, JPMorgan Chase & Co. cut shares of Education Realty Trust from a “neutral” rating to an “underweight” rating in a research report on Friday, December 15th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $40.90.
Education Realty Trust (NYSE:EDR) traded down $0.24 during mid-day trading on Wednesday, hitting $33.58. 653,462 shares of the company traded hands, compared to its average volume of 607,425. 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 $2,540.00, a PE ratio of 73.00, a price-to-earnings-growth ratio of 2.91 and a beta of 0.44. Education Realty Trust has a one year low of $33.55 and a one year high of $42.80.
In other Education Realty Trust news, Chairman Randy L. Churchey purchased 20,000 shares of Education Realty Trust stock in a transaction on Wednesday, November 1st. The shares were acquired at an average cost of $35.01 per share, for a total transaction of $700,200.00. Following the completion of the transaction, the chairman now directly owns 149,506 shares of the company’s stock, valued at $5,234,205.06. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Edwin B. Brewer, Jr. purchased 5,000 shares of Education Realty Trust stock in a transaction on Thursday, November 2nd. The shares were acquired at an average price of $35.01 per share, for a total transaction of $175,050.00. The disclosure for this purchase can be found here. 0.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Education Realty Trust by 0.8% during the second quarter. BlackRock Inc. now owns 9,621,591 shares of the real estate investment trust’s stock valued at $372,836,000 after acquiring an additional 71,799 shares during the last quarter. State Street Corp boosted its stake in shares of Education Realty Trust by 2.6% during the second quarter. State Street Corp now owns 3,431,312 shares of the real estate investment trust’s stock valued at $132,966,000 after purchasing an additional 87,185 shares during the period. Northern Trust Corp boosted its stake in shares of Education Realty Trust by 4.6% during the second quarter. Northern Trust Corp now owns 2,095,596 shares of the real estate investment trust’s stock valued at $81,203,000 after purchasing an additional 91,564 shares during the period. Channing Capital Management LLC boosted its stake in shares of Education Realty Trust by 15.6% during the third 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 period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Education Realty Trust by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,052,831 shares of the real estate investment trust’s stock valued at $37,828,000 after purchasing an additional 17,835 shares during the period.
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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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