Bank of America Comments on Investor Day with Education Realty Trust

Education Realty Trust (NYSE: EDR) hosted an investor day and property tour in Charlottesville, VA, in which “members of the team highlighted the changes incorporated over the last 18 months to better position the company for 3-5% SS NOI growth, which assumes +1.1% college enrollment growth through 2017 and limited supply at least through 2013,” Bank of America reports.

“EDR plans to complement internal growth with development, increasingly through public/private partnerships, and one-off acquisitions,” Bank of America writes. “We were impressed with the team in place and the quality/location of recent acquisitions.

“We are increasing our forward NAV derived PO to $9.00 on higher conviction on EDR's development pipeline and maintaining a neutral rating.”

Education Realty Trust closed Wednesday at $8.47.