Education Realty Trust Inc. (EDR) Stake Boosted by Channing Capital Management LLC
Channing Capital Management LLC lifted its holdings in Education Realty Trust Inc. (NYSE:EDR) by 15.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,340,581 shares of the real estate investment trust’s stock after acquiring an additional 180,768 shares during the period. Education Realty Trust accounts for about 1.8% of Channing Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Channing Capital Management LLC owned approximately 1.83% of Education Realty Trust worth $48,167,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in Education Realty Trust by 10.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,697 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 246 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Education Realty Trust by 10.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,917 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 477 shares during the last quarter. GAM Holding AG boosted its stake in Education Realty Trust by 5.0% during the second quarter. GAM Holding AG now owns 6,360 shares of the real estate investment trust’s stock valued at $246,000 after buying an additional 300 shares during the last quarter. Dubuque Bank & Trust Co. boosted its stake in Education Realty Trust by 22.5% during the second quarter. Dubuque Bank & Trust Co. now owns 6,379 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 1,173 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in Education Realty Trust by 87.7% during the second quarter. Riverhead Capital Management LLC now owns 6,758 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 3,158 shares during the last quarter.
A number of equities analysts recently commented on the company. FBR & Co reissued a “buy” rating and set a $44.00 price target on shares of Education Realty Trust in a research note on Monday. Robert W. Baird set a $38.00 price target on Education Realty Trust and gave the company a “buy” rating in a research note on Tuesday. Goldman Sachs Group, Inc. (The) raised Education Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $42.00 in a research note on Thursday, August 10th. TheStreet lowered Education Realty Trust from a “b” rating to a “c+” rating in a research note on Monday, July 31st. Finally, BidaskClub lowered Education Realty Trust from a “hold” rating to a “sell” rating in a research note on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Education Realty Trust presently has a consensus rating of “Hold” and an average target price of $41.50.
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Education Realty Trust (NYSE:EDR) last issued its 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). The company had revenue of $75.36 million for the quarter, compared to analyst estimates of $69.22 million. Education Realty Trust had a return on equity of 2.01% and a net margin of 11.33%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Monday, October 30th. Education Realty Trust’s dividend payout ratio is currently 339.14%.
In related news, VP Edwin B. Brewer, Jr. bought 5,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were acquired at an average cost of $35.01 per share, for a total transaction of $175,050.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wendell W. Weakley bought 750 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were bought at an average price of $38.65 per share, for a total transaction of $28,987.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 25,750 shares of company stock worth $904,238. Insiders own 0.50% of the company’s stock.
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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