Oppenheimer Maintains Outperform on Education Realty Trust (EDR)

Oppenheimer is out with its report today on Education Realty Trust

, maintaining Outperform. In a note to clients, Oppenheimer writes, "Management raised the midpoint of core 2011 FFO guidance by $0.02 (5.3%), from $0.36-$0.40 to $0.38-$0.42 per share. We are increasing our 2011 core FFO estimate by a penny to $0.41 per share; we are maintaining our 2012 core FFO expectation of $0.47 per share. We rate shares of EDR Outperform. Internal growth trends remain solid after management has revamped property operations, and EDR's preleasing metrics thus far evidence both stable pacing and solid rental rate growth. The company's enhanced financial flexibility puts EDR in a strong position to achieve external growth and improved portfolio quality during 2011." Oppenheimer has a $9 PT on EDR. Shares of EDR closed Thursday at $8.33.