Education Realty Trust, Inc. (NYSE:EDR) announced a quarterly dividend on Friday, April 13th, Wall Street Journal reports. Investors of record on Monday, April 30th will be given a dividend of 0.39 per share by the real estate investment trust on Tuesday, May 15th. This represents a $1.56 annualized dividend and a yield of 4.82%. The ex-dividend date is Friday, April 27th.
Education Realty Trust has raised its dividend by an average of 3.7% per year over the last three years and has raised its dividend every year for the last 7 years. Education Realty Trust has a dividend payout ratio of 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Education Realty Trust to earn $2.00 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 78.0%.
EDR traded up $0.01 on Friday, hitting $32.39. The company had a trading volume of 677,805 shares, compared to its average volume of 521,800. Education Realty Trust has a 1-year low of $30.07 and a 1-year high of $40.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.22 and a current ratio of 0.22. The firm has a market cap of $2,526.56, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 3.75 and a beta of 0.40.
A number of brokerages have recently commented on EDR. Robert W. Baird set a $36.00 price target on Education Realty Trust and gave the stock a “buy” rating in a report on Thursday, February 22nd. Sandler O’Neill reiterated a “hold” rating and set a $34.00 price target on shares of Education Realty Trust in a report on Monday, February 26th. B. Riley set a $44.00 price target on Education Realty Trust and gave the stock a “buy” rating in a report on Tuesday, February 20th. KeyCorp reiterated a “buy” rating and set a $40.00 price target on shares of Education Realty Trust in a report on Thursday, December 21st. Finally, JPMorgan Chase lowered Education Realty Trust from a “neutral” rating to an “underweight” rating in a report on Friday, December 15th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $40.10.
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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