Last $10.21 USD
Change Today -0.14 / -1.35%
Volume 1.3M
As of 8:04 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

education realty trust inc (EDR) Snapshot

Open
$10.36
Previous Close
$10.35
Day High
$10.37
Day Low
$10.16
52 Week High
05/22/13 - $11.77
52 Week Low
09/3/13 - $8.30
Market Cap
1.2B
Average Volume 10 Days
1.3M
EPS TTM
$0.04
Shares Outstanding
115.0M
EX-Date
04/28/14
P/E TM
274.0x
Dividend
$0.44
Dividend Yield
4.21%
Current Stock Chart for EDUCATION REALTY TRUST INC (EDR)

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education realty trust inc (EDR) Details

Education Realty Trust, Inc., a real estate investment trust (REIT), develops, acquires, owns, and manages student housing communities located near university campuses in the United States. It also provides third-party management services, including residence life and student development, marketing, leasing administration, strategic relationships, information systems, and accounting services for student housing communities owned by educational institutions and charitable foundations. In addition, the company offers third-party development consulting services, such as market analysis and evaluation of housing needs and options; co-operation with university in architectural design; negotiation of ground lease, development agreement, construction contract, architectural contract, and bond documents; oversight of architectural design process; co-ordination of governmental and university plan approvals; oversight of construction process; design, purchase, and installation of furniture; pre-opening marketing to students; and obtaining final approvals of construction. It provides its third-party development consulting services primarily to universities seeking to modernize their on-campus student housing communities, as well as to other third-party investors. As of December 31, 2009, the company owned 40 student housing communities located in 19 states containing 25,454 beds in 7,813 apartment units located near 35 universities. It also provided third-party management services for 20 student housing communities located in 9 states containing 10,186 beds in 3,272 apartment units at 16 universities. The company qualifies as a REIT for federal income tax purposes. As a REIT, it would not be subject to federal corporate income tax if it distributes at least 90% of its REIT taxable income to its stockholders. The company was founded in 1964 and is based in Memphis, Tennessee.

1,288 Employees
Last Reported Date: 03/3/14
Founded in 1964

education realty trust inc (EDR) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $480.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $275.0K
Chief Operating Officer and Senior Vice Presi...
Total Annual Compensation: $200.0K
Chief Investment Officer and Executive Vice P...
Total Annual Compensation: $330.0K
Chief Accounting Officer, Senior Vice Preside...
Total Annual Compensation: $173.4K
Compensation as of Fiscal Year 2013.

education realty trust inc (EDR) Key Developments

EdR Announces Quarterly Dividend Payable May 15, 2014

EdR announced that its board of directors has approved a quarterly cash dividend of $0.11 per share of common stock. The dividend will be payable May 15, 2014 to shareholders of record as of April 30, 2014.

Education Realty Trust, Inc. Appoints John V. Arabia to the Board

On March 21, 2014, the Board of Directors of Education Realty Trust, Inc. appointed John V. Arabia to the Board, effective immediately. Mr. Arabia is currently the President of Sunstone Hotel Investors Inc. Prior to being appointed President of Sunstone in February 2013, Mr. Arabia served as Sunstone's Executive Vice President of Corporate Strategy and Chief Financial Officer commencing in April 2011. In February 2014, Mr. Arabia was appointed to Sunstone's Board of Directors.

Education Realty Trust, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the Year Ending December 31, 2014; Announces Impairment Loss for the Fourth Quarter of 2013

Education Realty Trust, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported total revenues of $55,198,000 compared with $41,199,000 for the same period a year ago. Operating income was $12,771,000 compared with $8,048,000 for the same period a year ago. Income before equity in losses of unconsolidated entities, income taxes and discontinued operations was $7,307,000 compared with $4,426,000 for the same period a year ago. Income before income taxes and discontinued operations was $7,206,000 compared with $4,403,000 for the same period a year ago. Income from continuing operations was $6,735,000 compared with $4,170,000 for the same period a year ago. Net income attributable to common shareholders was $1,643,000 or $0.01 per basic and diluted share compared with $4,788,000 or $0.04 per basic and diluted share for the same period a year ago. Funds from operations (FFO) was $21,665,000 or $0.19 per share compared with $15,972,000 or $0.14 per share for the same period a year ago. Core FFO was $23,468,000 or $0.20 per share compared with $18,089,000 or $0.16 per share for the same period a year ago. The improvement in core FFO mainly reflects an increase in operating profits from new communities offset by higher interest expense in 2013. For the year, the company reported total revenues of $184,376,000 compared with $137,946,000 for the same period a year ago. Operating income was $24,330,000 compared with $15,018,000 for the same period a year ago. Earnings before equity in losses of unconsolidated entities, income taxes and discontinued operations was $5,493,000 compared with loss before equity in losses of unconsolidated entities, income taxes and discontinued operations of $304,000 for the same period a year ago. Income before income taxes and discontinued operations was $5,290,000 compared with loss of $667,000 for the same period a year ago. Income from continuing operations was $5,087,000 compared with $217,000 for the same period a year ago. Net income attributable to common shareholders was $4,323,000 or $0.04 per basic and diluted share compared with $8,421,000 or $0.08 per basic and diluted share for the same period a year ago. FFO was $55,172,000 or $0.48 per share compared with $40,780,000 or $0.40 per share for the same period a year ago. Core FFO was $63,099,000 or $0.55 per share compared with $48,175,000 or $0.47 per share for the same period a year ago. Adjusted EBITDA was $80,272,000 compared with $61,015,000 for the same period a year ago. Pro Forma Adjusted EBITDA was $98,152,000 compared with $80,039,000 for the same period a year ago. For the quarter, the company recorded impairment loss of $5,001,000. The company provided earnings guidance for the year ending December 31, 2014. For the year, the company expects to report net income attributable to EdR in the range of $20,475,000 to $35,880,000, real estate related depreciation and amortization of $53,316,000, FFO in the range of $65,221,000 to $80,502,000 or $0.56 to $0.69 per share and Core FFO in the range of $72,238,000 to $78,552,000 or $0.62 to $0.68 per share. The Core FFO guidance range is wider than normal due to possible fees related to the participating project at Johns Hopkins. The following assumptions were made by management in determining this guidance range: Full year same-community NOI increase of 4% to 5% on a 3% to 5% growth in revenue and a 3% to 4% increase in operating expenses. Total revenue growth on existing leases through the summer and for the new fall lease term are in the same range; NOI of $10.0 million to $10.5 million from 2014 company-owned development deliveries and presale transaction at Florida International University, excluding pre-opening and ground lease expenses; interest expense is expected to be between $25.0 million and $26.0 million, net of capitalized interest of $4.0 million to $4.5 million. This includes approximately $3.4 million of additional interest costs related to the term loan entered into in January 2014; and full year weighted average shares/units of 116.0 million.

 

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American Campus Communities Inc $37.89 USD -0.06
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Industry Analysis

EDR

Industry Average

Valuation EDR Industry Range
Price/Earnings 100.0x
Price/Sales 6.5x
Price/Book 1.6x
Price/Cash Flow 22.7x
TEV/Sales 2.0x
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