Education Realty Trust Inc. (NYSE:EDR) declared a quarterly dividend on Thursday, October 12th, RTT News reports. Investors of record on Tuesday, October 31st will be paid a dividend of 0.39 per share by the real estate investment trust on Wednesday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 4.22%.
Education Realty Trust has raised its dividend payment by an average of 6.0% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Education Realty Trust has a payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Education Realty Trust to earn $1.98 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 78.8%.
Education Realty Trust (NYSE EDR) opened at 37.01 on Friday. Education Realty Trust has a 1-year low of $35.57 and a 1-year high of $43.16. The firm has a market capitalization of $2.71 billion, a P/E ratio of 86.07 and a beta of 0.45. The stock’s 50 day moving average is $37.91 and its 200-day moving average is $38.63.
Education Realty Trust (NYSE:EDR) last issued its quarterly earnings data 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. The firm had revenue of $74.04 million during the quarter, compared to analysts’ expectations of $69.40 million. Education Realty Trust had a net margin of 10.58% and a return on equity of 1.83%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. Analysts forecast that Education Realty Trust will post $0.51 EPS for the current year.
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In other Education Realty Trust news, Director John T. Thomas acquired 800 shares of Education Realty Trust stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $37.51 per share, for a total transaction of $30,008.00. Following the completion of the acquisition, the director now directly owns 3,299 shares of the company’s stock, valued at $123,745.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wendell W. Weakley acquired 750 shares of Education Realty Trust stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average price of $38.65 per share, with a total value of $28,987.50. The disclosure for this purchase can be found here. Insiders have bought 2,550 shares of company stock valued at $96,496 over the last quarter. Corporate insiders own 0.50% of the company’s stock.
A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Education Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Robert W. Baird reiterated an “outperform” rating and set a $40.00 price objective (down from $45.00) on shares of Education Realty Trust in a report on Monday, October 2nd. FBR & Co reiterated a “buy” rating on shares of Education Realty Trust in a report on Thursday, June 22nd. Bank of America Corporation cut shares of Education Realty Trust from a “buy” rating to a “neutral” rating in a report on Friday, June 30th. Finally, Citigroup Inc. cut shares of Education Realty Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $44.00 to $41.00 in a report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Education Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $42.63.
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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