UPDATE: Wunderlich Initiates Coverage on Education Realty Trust on Market Leader Position in Student Housing
In a report published Friday, Wunderlich Securities analyst Craig Kucera initiated coverage on Education Realty Trust (NYSE: EDR) with a Buy rating and $10.50 price target.
In the report, Wunderlich Securities noted, “We are initiating coverage on Education Realty Trust, Inc. (EDR) with a Buy rating and a $10.50 price target. Student housing REITs are unique in that they are not affected by housing affordability or single family rentals. They are, however, built around the academic calendar, leading to higher seasonality. EDR's concentration on flagship universities should allow for deeper on-campus penetration through relationships with budget-constrained universities, and we are optimistic on EDR's business model and capacity to grow into a number of new markets for the foreseeable future.”
Education Realty Trust closed on Thursday at $8.98.
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