UBS Downgrades Education Realty Trust To Neutral

In a report released Friday, UBS analyst Nick Yulico downgrades Education Realty Trust, Inc.

from Buy to Neutral while increasing its price target from $11 to $11.50 a share. Analyst 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 4 percent in 2016 caused by a reduction in Education Realty's development pipeline and increase use of equity and fixed-rate debt.