Short Interest in Education Realty Trust, Inc. (EDR) Drops By 54.5%

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Education Realty Trust, Inc. (NYSE:EDR) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 3,908,126 shares, a decrease of 54.5% from the May 31st total of 8,587,709 shares. Approximately 5.2% of the shares of the company are sold short. Based on an average daily volume of 1,962,915 shares, the short-interest ratio is currently 2.0 days.

Institutional investors have recently modified their holdings of the business. Ceredex Value Advisors LLC acquired a new stake in shares of Education Realty Trust in the first quarter valued at approximately $61,014,000. V3 Capital Management L.P. grew its position in shares of Education Realty Trust by 185.7% in the first quarter. V3 Capital Management L.P. now owns 951,401 shares of the real estate investment trust’s stock valued at $31,158,000 after purchasing an additional 618,353 shares during the last quarter. BlackRock Inc. grew its position in shares of Education Realty Trust by 5.2% in the fourth quarter. BlackRock Inc. now owns 10,218,931 shares of the real estate investment trust’s stock valued at $356,846,000 after purchasing an additional 505,601 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Education Realty Trust in the first quarter valued at approximately $6,574,000. Finally, Channing Capital Management LLC grew its position in shares of Education Realty Trust by 13.9% in the fourth quarter. Channing Capital Management LLC now owns 1,527,099 shares of the real estate investment trust’s stock valued at $53,326,000 after purchasing an additional 186,518 shares during the last quarter.

Several research analysts recently issued reports on EDR shares. TheStreet raised shares of Education Realty Trust from a “c” rating to a “b-” rating in a report on Monday, May 7th. Zacks Investment Research raised shares of Education Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, May 15th. Goldman Sachs Group cut shares of Education Realty Trust from a “buy” rating to a “neutral” rating in a report on Wednesday, May 16th. ValuEngine cut shares of Education Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Finally, Evercore ISI raised shares of Education Realty Trust from an “underperform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Sunday, June 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.94.

Shares of Education Realty Trust stock opened at $41.50 on Friday. Education Realty Trust has a 12-month low of $30.07 and a 12-month high of $43.30. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 5.25 and a beta of 0.43.

Education Realty Trust (NYSE:EDR) last issued its earnings results on Monday, April 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.02). Education Realty Trust had a net margin of 21.50% and a return on equity of 3.95%. The company had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $85.79 million. During the same period last year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. sell-side analysts predict that Education Realty Trust will post 1.85 earnings per share for the current year.

Education Realty Trust Company Profile

EdR (NYSE: EDR) is one of America's largest owners, developers and managers of collegiate housing. EdR is a self-administered and self-managed real estate investment trust that owns or manages 79 communities with more than 42,300 beds serving 50 universities in 25 states. EdR is a member of the Russell 2000 Index, the S&P MidCap 400 and the Morgan Stanley REIT indices.

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