Education Realty Trust Inc. (EDR) Stock Down After Price Target Increase by Analysts at Canaccord Genuity

Education Realty Trust Inc. (NYSE: EDR) shares were down in early trading today on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.

Education Realty Trust Inc. (NYSE: EDR) had its price target raised by equities researchers at Canaccord Genuity from $54.00 to $51.00. With a rating of Buy on the stock, Education Realty Trust Inc. has a 52-week high of $48.87. As a means of comparison, a number of other analysts have issued reports on the stock recently, and Education Realty Trust Inc. has secured a consensus one-year price target of $48.96, above the opening price of $42.65.

Meanwhile, US stock opened lower amid concerns surrounding the U.S. Department of Justice’s probe into Deutsche Bank AG.

The S&P 500 SPX, -0.25% slipped 5 points, or 0.2%, to 2,162.

The Dow industrials DJIA, -0.26% fell 55 points, or 0.3%, to 18,252.

The Nasdaq Composite COMP, -0.11% was off 13 points, or 0.3%, to 5,298

Shares of Education Realty Trust Inc. (NYSE: EDR) opened at $42.65 yesterday and traded in a range between, $42.43 and $42.77, and last traded at $42.46, a drop of $0.68 per share or -0.02 from the previous closing price.

Education Realty Trust Inc. (NYSE: EDR) now has a market cap of 3.10B.

Education Realty Trust Inc.Trading Volume

The stock’s average daily volume is 724,450 shares out of a total float 72,705,000 and some 44,289 shares traded hands yesterday, below the average. Look for trading volume to pick up in the coming days as momentum traders often use increases in trading volume to identify substantial volume growth or distribution by institutional investors.

As with all potential breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.

Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

Education Realty Trust Inc. Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.

With that in mind, Education Realty Trust Inc. (NYSE: EDR) now has a 50-day MA of $44.71 and 200-day MA of $43.62. It has traded in a 52-week range between $32.90 – 48.87 and today’s last price is 0.13% lower than the 52 week high of $48.87.

Earnings growth is a crucial factor to research when investing in stocks and investors identify companies that have raised their earnings at least 25% or more over the past 3 years.

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