Education Realty Trust Earnings: Here’s Why the Stock is Up Now
Education Realty Trust Inc. (NYSE:EDR) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.1%.
Education Realty Trust Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.29% to $0.16 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Rose 21.82% to $43.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Education Realty Trust Inc. reported adjusted EPS income of $0.16 per share. By that measure, the company met the mean analyst estimate of $0.16. It beat the average revenue estimate of $40.86 million.
Quoting Management:“The recent expansion of our line of credit provides additional financial flexibility and capacity to take advantage of our many growth opportunities,” stated Randy Churchey, EDR’s president and chief executive officer. “Our pipeline of new opportunities is robust and we are positioned to drive earnings growth from our high quality well located communities around the country.”
Key Stats (on next page)…