UPDATE: UBS Downgrades Education Realty Trust
In a report released Friday, UBS analyst Nick Yulico downgraded Education Realty Trust (NYSE: EDR) from Buy to Neutral, while increasing its price target from $11 to $11.50.
Analysts at UBS view little chance of upside for Education Realty Trust following its hefty returns of 22 percent year to date. UBS estimates growth reduction in adjusted funds from operation, from 13 percent on average in 2014 and 2015 to a projected four percent in 2016, caused by a reduction in Education Realty's development pipeline and increased use of equity and fixed-rate debt.
Latest Ratings for EDR
|Apr 2016||Goldman Sachs||Upgrades||Sell||Neutral|
|Apr 2016||FBR Capital||Initiates Coverage on||Outperform|
|Jan 2016||JMP Securities||Maintains||Market Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.