Education Realty Trust Received its Third Buy in a Row

By Jason Carr

After Robert W. Baird and KeyBanc assigned a Buy rating to Education Realty Trust in the last month, the company received another Buy, this time from B.Riley FBR. Analyst David Corak assigned a Buy rating to Education Realty Trust (NYSE: EDR) today and set a price target of $44. The company’s shares opened today at $36.93.

Corak noted:

“We met with Education Realty Trust’s (Buy, $44.00 PT) management on Tuesday, November 14th, at 9:00 am Central at the 2017 NAREIT Investor Conference. Below are the takeaways from the meeting.”

According to TipRanks.com, Corak is a 3-star analyst with an average return of 2.4% and a 56.4% success rate. Corak covers the Financial sector, focusing on stocks such as National Storage Affiliates Trust, Preferred Apartment Communities, and NorthStar Realty Europe Corp.

Currently, the analyst consensus on Education Realty Trust is Strong Buy and the average price target is $43.67, representing a 18.3% upside.

In a report issued on October 31, Robert W. Baird also reiterated a Buy rating on the stock with a $40 price target.

Based on Education Realty Trust’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $75.77 million and GAAP net loss of $879K. In comparison, last year the company earned revenue of $65.47 million and had a GAAP net loss of $3.53 million.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EDR in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Education Realty Trust, Inc. is a real estate investment trust, which develops, acquire, own and manage collegiate housing communities located near university campuses. It operates through the following segments: Collegiate Housing Leasing, Development Consulting Services, and Management Services.