|Exchange:||New York Stock Exchange|
|Stock:||Education Realty Trust, Inc.|
|Industry:||REIT - Residential|
|Education Realty Trust, Inc. is a self-managed and self-advised real estate investment trust, or REIT, which was organized in July 2004. The Company develops, acquires, owns and manages student housing communities located near university campuses. As of December 31, 2012, the company owned 43 collegiate housing communities located in 22 states containing 25,003 beds in 8,494 apartment units on or near 38 university campuses. As of December 31, 2012, it also provided third-party management services for 23 collegiate housing communities located in 10 states containing 12,060 beds in 4,068 apartment units on or near 20 university campuses. The Company has three reportable segments: collegiate housing leasing, development consulting services and management services. Collegiate-housing communities are typically leased by the bed on an individual lease liability basis. A parent or guardian is required to execute each lease as a guarantor unless the resident provides adequate proof of income and/or pays a deposit, which is usually equal to two months’ rent. It provides development consulting services mainly to colleges and universities seeking to modernize their on-campus collegiate housing communities but also to the Trust and other third-party investors. Its development consulting services typically include the following: market analysis and evaluation of collegiate housing needs and options; cooperation with the client on architectural design; negotiation of ground lease, development agreement, construction contract, architectural contract and bond documents; oversight of architectural design process; coordination of governmental and university plan approvals; oversight of construction process; design, purchase and installation of furniture; pre-opening marketing to students; and obtaining final approvals of construction. It provides management services for collegiate housing communities owned by educational institutions, charitable foundations, the Trust and others. Its management services typically cover all aspects of community operations, including residence life and student development, marketing, leasing administration, strategic relationships, and information systems and accounting services. It competes with several regional and national owner-operators of off-campus student housing, including one publicly-traded competitor, American Campus Communities, Inc. It also competes with privately held developers and other real estate firms and in a number of markets with smaller local owner-operators. As a current or prior owner, manager and developer of real estate, it are subject to various federal, state and local environmental laws, regulations and ordinances and also could be liable to third parties resulting from environmental contamination or noncompliance at its properties.|
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.