Back to top

Analyst Blog

Education Realty Trust, Inc (EDR - Snapshot Report), a real estate investment trust (REIT), has recently announced a secondary offering of 13.5 million shares to enhance its liquidity. The company has also decided to grant the underwriters a 30-day option to purchase up to an additional 2.0 million shares to cover the over-allotment options.  

Education Realty intends to use the net proceeds from the offering to repay debt, fund its development pipeline and for acquisitions and general working capital purposes.

Earlier, during second quarter 2012, Education Realty sold approximately 1.4 million shares of common stock at  a weighted average share price of $11.02. The company  generated  net proceeds of $15.4 million that were mainly utilized to fund the then ongoing  projects and reduce debt.

As of June 30, 2012, the company had cash and cash equivalents totaling $8.4 million and $145.0 million available on its unsecured revolving credit facility.

Education Realty is one of the largest owners, developers and managers of collegiate housing in the US. The company owns or manages 60 communities in 23 states with more than 34,900 beds in more than 11,400 units. The Company's ideal acquisition targets generally are located in markets that have stable or increasing collegiate populations and high barriers to entry.

Education Realty currently retains a Zacks #2 Rank, which translates into a short-term Buy rating. We also have a long-term Neutral recommendation on the stock. One of its competitors, American Campus Communities, Inc (ACC - Snapshot Report) holds a Zacks #3 Rank, which implies a short-term Hold rating

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
RPC INC RES 24.91 +8.35%
LITHIA MOTO… LAD 94.59 +4.60%
DELTA AIR L… DAL 39.15 +3.90%
FLAMEL TECH… FLML 14.51 +3.50%
SOUTHWEST A… LUV 28.87 +2.92%