Education Realty Trust Inc. (EDR) Short Interest Up 54.2% in September
Education Realty Trust Inc. (NYSE:EDR) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 4,279,712 shares, a growth of 54.2% from the August 31st total of 2,776,174 shares. Currently, 5.9% of the company’s shares are sold short. Based on an average daily trading volume, of 883,062 shares, the days-to-cover ratio is presently 4.8 days.
A number of research analysts have commented on EDR shares. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $44.00 target price on shares of Education Realty Trust in a research report on Wednesday, August 3rd. Canaccord Genuity set a $54.00 price target on shares of Education Realty Trust and gave the stock a “buy” rating in a research report on Sunday, September 11th. FBR & Co raised their price objective on shares of Education Realty Trust from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. KeyCorp set a $52.00 price objective on shares of Education Realty Trust and gave the company a “buy” rating in a research note on Monday, August 22nd. Finally, Robert W. Baird raised shares of Education Realty Trust from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $42.97 to $47.00 in a research note on Tuesday, September 20th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.00.
Shares of Education Realty Trust (NYSE:EDR) opened at 43.14 on Monday. The stock’s 50 day moving average is $44.71 and its 200 day moving average is $43.62. The stock has a market cap of $3.15 billion, a P/E ratio of 56.84 and a beta of 0.49. Education Realty Trust has a 12 month low of $32.90 and a 12 month high of $48.87.
Education Realty Trust (NYSE:EDR) last posted its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. Education Realty Trust had a net margin of 16.30% and a return on equity of 3.22%. The company earned $65.14 million during the quarter, compared to the consensus estimate of $61.88 million. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. Analysts predict that Education Realty Trust will post $1.77 earnings per share for the current fiscal year.
In other Education Realty Trust news, Director Monte J. Barrow sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the transaction, the director now owns 10,162 shares of the company’s stock, valued at $467,452. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. increased its position in Education Realty Trust by 2.6% in the second quarter. Macquarie Group Ltd. now owns 897,093 shares of the real estate investment trust’s stock worth $41,392,000 after buying an additional 22,370 shares in the last quarter. Northwestern Mutual Investment Management Company LLC bought a new position in Education Realty Trust during the second quarter worth approximately $526,000. Mason Street Advisors LLC bought a new position in Education Realty Trust during the second quarter worth approximately $1,390,000. Wolverine Asset Management LLC increased its position in Education Realty Trust by 1,859.5% in the second quarter. Wolverine Asset Management LLC now owns 10,601 shares of the real estate investment trust’s stock worth $489,000 after buying an additional 10,060 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Education Realty Trust by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 69,867 shares of the real estate investment trust’s stock worth $3,224,000 after buying an additional 447 shares in the last quarter.
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.
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