KeyBanc Reiterates a 'Buy' on Education Realty Trust (EDR); Positive Q4 Results

February 24, 2012 8:49 AM EST
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Price: $41.95 --0%

Rating Summary:
    11 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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KeyBanc reiterates a 'Buy' on Education Realty Trust (NYSE: EDR) price target raised from $11.00 to $11.50.

Analyst, Karin A. Ford, said, "We expect the stock of EDR to perform well following a positive 4Q11 earnings report that likely modestly exceeded expectations. 4Q11 "core" FFOM of $0.14/share met consensus. But, 2012 FFOM guidance of $0.46-$0.51 was 3.2% above consensus at the midpoint. Impressive 2012 SSNOI guidance of 6-9% exceeded our forecast. Additionally, early 2012/2013 preleasing trends are encouraging, with 3.5% 2013 rent growth and a pace that supports a 100bps occupancy pickup. On the investment front, EDR's $310 million development pipeline should generate very attractive NAV and earnings growth in 2012 and 2013, and the acquisition pipeline remains robust."

For an analyst ratings summary and ratings history on Education Realty Trust click here. For more ratings news on Education Realty Trust click here.

Shares of Education Realty Trust closed at $10.44 yesterday.

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