In a report published Friday, Bank of America analyst Jana Galan upgraded the rating on Education Realty Trust (NYSE: EDR) from Neutral to Buy, and reiterated the $11.00 price target.
In the report, Bank of America noted, “We are upgrading EDR to a Buy rating from Neutral and maintaining our forward NAV derived PO of $11.00. We assume the stock trades in line with our NAV estimate. We are raising our 2014 Core FFO/sh estimate to $0.67 (management guidance $0.62-0.68) from $0.65 and our 2015 estimate to $0.80 (management guidance $0.80) from $0.79 after revising our ground lease expense assumptions, impact to Core FFO from participating developments, and interest expense assumptions. We are also adjusting our volatility risk rating for EDR to B (medium) from C (high).”
Education Realty Trust closed on Thursday at $10.18.
- AIMCO: A Balanced View - Analyst Blog
- Associated Estates Realty (AEC) Looks Good: Stock Up 5.1% - Tale of the Tape
- Balanced View on AvalonBay - Analyst Blog
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.