UPDATE: UBS Downgrades Education Realty Trust (EDR) to Sell

(Updated - January 22, 2015 11:28 AM EST)

UBS downgraded Education Realty Trust (NYSE: EDR) from Neutral to Sell with a price target of $35 (unchanged).

Analyst Nick Yulico said, "The 2014/15 academic school year was a memorable one for EDR. Same-community leasing rose +200bps y/y, SSREV grew +4%, and the stock price rallied nearly +40%. However, the success from the previous year is now in the rear-view mirror and we turn the page to 2015/2016. With additional equity issuance, rising G&A, and a lowered asset base on the horizon, we estimate materially lower 2015 FFO of $1.82 (Street low) and are downgrading EDR to Sell from Neutral with an unchanged price target of $35 (4% discount to forward NAV estimate)."

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 $38.16 yesterday.

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