Education Realty Trust initiated with "buy"

10/18/06 - A.G. Edwards & Sons

NEW YORK, October 18 (newratings.com) - Analysts at AG Edwards initiate coverage of Education Realty Trust (EDR) with a "buy" rating. The price objective is set to $18.50.

In a research note published yesterday, the analysts mention that the company’s share price is expected to be supported by the scarcity of student housing portfolios as well as strong investor appetite. The analysts believe that the combination of a rising number of college-age students and a small percentage of student housing currently owned by public REITs would allow Education Realty Trust to achieve sustainable long-term growth.