Today’s Rating On Watch: Education Realty Trust (NYSE:EDR) Is a Stock Bank of America (Merrill Lynch) Is Confident In; Firm Upgrades It

November 23, 2016 - By Winifred Garcia

Today's Rating On Watch:  Education Realty Trust (NYSE:EDR) Is a Stock Bank of America (Merrill Lynch) Is Confident In; Firm Upgrades It

Education Realty Trust (NYSE:EDR) Upgrade

Bank of America (Merrill Lynch) gave Education Realty Trust (NYSE:EDR) shares a new Buy rating in a a research report sent to investors and clients on Wednesday morning. This is boost from the old Neutral rating.

Education Realty Trust, Inc. (NYSE:EDR) Ratings Coverage

Out of 10 analysts covering Education Realty Trust (NYSE:EDR), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. $54 is the highest target while $37 is the lowest. The $47.11 average target is 19.45% above today’s ($39.44) stock price. Education Realty Trust has been the topic of 24 analyst reports since July 23, 2015 according to StockzIntelligence Inc. CapitalOne initiated the stock with “Equal Weight” rating in Friday, September 23 report. JMP Securities initiated it with “Market Outperform” rating and $38 target price in Thursday, September 17 report. The company was downgraded on Tuesday, August 4 by Zacks. The stock of Education Realty Trust, Inc. (NYSE:EDR) has “Sell” rating given on Thursday, December 3 by Goldman Sachs. Robert W. Baird maintained it with “Neutral” rating and $38 target price in Friday, January 8 report. JMP Securities initiated the stock with “Market Outperform” rating in Tuesday, September 15 report. The rating was downgraded by Hilliard Lyons on Friday, July 1 to “Underperform”. The company was upgraded on Monday, April 25 by Goldman Sachs. As per Monday, October 3, the company rating was maintained by Canaccord Genuity. The firm has “Neutral” rating given on Wednesday, September 7 by Citigroup.

About 425,273 shares traded hands. Education Realty Trust, Inc. (NYSE:EDR) has risen 2.72% since April 21, 2016 and is uptrending. It has underperformed by 2.61% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 1.66 in Q2 2016. Its down 0.12, from 1.78 in 2016Q1. The ratio dropped, as 14 funds sold all Education Realty Trust, Inc. shares owned while 58 reduced positions. 40 funds bought stakes while 88 increased positions. They now own 72.92 million shares or 3.74% more from 70.29 million shares in 2016Q1.

Commonwealth Bank & Trust Of Aus reported 773,376 shares or 0.42% of all its holdings. The New York-based Tower Rech Capital Ltd Liability (Trc) has invested 0.01% in Education Realty Trust, Inc. (NYSE:EDR). Rhumbline Advisers has 140,601 shares for 0.02% of their US portfolio. Assetmark holds 17,772 shares or 0.01% of its portfolio. Great Lakes Advsrs Ltd Liability Company reported 69,865 shares or 0.09% of all its holdings. Moreover, Advantus Mgmt has 0.49% invested in Education Realty Trust, Inc. (NYSE:EDR) for 378,432 shares. Northern Trust Corp has 1.76 million shares for 0.03% of their US portfolio. Texas Permanent School Fund accumulated 0.03% or 50,517 shares. Moreover, Echo Street Mngmt Limited Liability has 0.27% invested in Education Realty Trust, Inc. (NYSE:EDR) for 138,893 shares. Joel Isaacson And Ltd Limited Liability Company accumulated 0% or 39 shares. Usa Financial Portformulas Corporation has 6,201 shares for 0.08% of their US portfolio. Blackrock holds 101,040 shares or 0.01% of its portfolio. Wolverine Asset Management Ltd Llc has invested 0.01% of its portfolio in Education Realty Trust, Inc. (NYSE:EDR). Amp Ltd holds 0.01% of its portfolio in Education Realty Trust, Inc. (NYSE:EDR) for 28,340 shares. Westpac Banking last reported 192,217 shares in the company.

Insider Transactions: Since June 14, 2016, the stock had 1 insider buy, and 1 sale for $223,419 net activity. $230,000 worth of Education Realty Trust, Inc. (NYSE:EDR) shares were sold by Barrow Monte J. Another trade for 153 shares valued at $6,581 was bought by Mackie Lindsey.

Education Realty Trust, Inc. is a self-managed and self-advised real estate investment trust (REIT). The company has a market cap of $2.90 billion. The Trust is engaged in developing, acquiring, owning and managing collegiate housing communities located near university campuses. It has a 75.67 P/E ratio. The Trust operates through three divisions: collegiate housing leasing, development consulting services and management services.

According to Zacks Investment Research, “Education Realty Trust owns, manages, and develops student housing communities located near university campuses throughout the United States. EDR will elect to be taxed as a real estate investment trust. EDR also manages student housing communities for college and university systems across the country.”

EDR Company Profile

Education Realty Trust, Inc. (EdR), incorporated on July 12, 2004, 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 divisions: collegiate housing leasing, development consulting services and management services. The Trust develops collegiate housing communities for its own account and also provides third-party development consulting services on collegiate housing development projects for universities and other third parties. The Trust owns approximately 60 collegiate housing communities located in over 20 states containing approximately 30,400 beds in over 11,680 apartment units in over 40 university campuses. The Trust provides third-party management services for approximately 20 collegiate housing communities located in over 10 states containing approximately 11,540 beds in over 4,090 apartment units in over 20 university campuses.

More news for Education Realty Trust, Inc. (NYSE:EDR) were recently published by: Marketwatch.com, which released: “Education Realty upgraded to neutral from underperform at Hilliard Lyons” on January 18, 2011. Benzinga.com‘s article titled: “Recent Underperformance Leaves Education Realty Trust Stock At An Attractive Price” and published on October 05, 2016 is yet another important article.

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