Education Realty Trust (EDR) Tops Q3 EPS by 4c; Updates Guidance

Education Realty Trust (NYSE: EDR) reported Q3 EPS of ($0.01), $0.04 better than the analyst estimate of ($0.05).

Core FFO for the third quarter increased 11.7% to $21.7 million and Core FFO per share/unit improved $0.03, or 11.5%, to $0.29. Year to date, Core FFO per share/unit is up 12.0% over the prior year.

Guidance

Net income attributable to common shareholders per diluted share is being decreased from a range of $0.51 to $0.61 to a new range of $0.51 to $0.55. Original Core FFO per share guidance of $1.90 to $2.00 has been adjusted to $1.88 to $1.92, a $0.05 per share or 2.6% reduction at the midpoint. Full year same-community revenue, expense and NOI growth guidance is being updated to 1.8%, 3.8% and 0.5%, respectively, at the midpoint. See Earnings Guidance and Outlook for additional details.

For earnings history and earnings-related data on Education Realty Trust (EDR) click here.

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