BNET Industries
Market Cap:$279.5M
Last Fiscal Year Sales:$139.8M
- Public
- US
Dow Jones Description
Education Realty Trust, Inc., which we refer to as EDR or the Trust, is a self-managed and self-advised real estate investment trust, or REIT, organized in July 2004 to develop, acquire, own and manage high quality student housing communities located near university campuses. We were formed to continue and expand upon the student housing business of Allen & OHara, Inc., a company with over 40 years of experience as an owner, manager and developer of student housing. As of December 31, 2008, we owned 40 student housing communities located in 18 states containing 24,991 beds in 7,598 apartment units located near 34 universities. As of December 31, 2008, we provide third-party management services for 20 student housing communities located in 9 states containing 10,656 beds in 3,350 apartment units at 16 universities. We also provide third-party development consulting services on student housing development projects mostly for universities but also for our own ownership and other third parties. All of our assets are held by, and we have conducted substantially all of our activities through Education Realty Operating Partnership, LP, our Operating Partnership, and its wholly owned subsidiaries, Allen & OHara Education Services, Inc., which we refer to as our Management Company or AOES and Allen & OHara Development Company, LLC, which we refer to as our Development Company or AODC. ...
Chairman, Chief Executive Officer and President
Paul O. BowerNumber of Employees 1,259
Contact Information
530 Oak Court Dr Ste 300
Memphis, Tennessee 38117
(901) 259-2500
Peer Companies
NAICS Code : 525930
Recent Events
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Education Realty Trust Announces Closing of $95 Million Revolving Credit Facility
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Macquarie Capital USA Inc. maintains Education Realty Trust Inc. at 'outperform'
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Education Realty Trust reports flat third quarter
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Education Realty Trust Q3 Loss Widens; Revises FY09 FFO Per Share Guidance - Quick Facts
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Education Realty sets dividend of 5 cents
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Education Realty Trust EDR Downgrade Alert, Watch for 19% Technical Uptrend Reversal
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KeyBanc Capital Markets Inc. maintains Education Realty Trust Inc. at 'buy'
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KeyBanc Capital Markets Inc. upgrades Education Realty Trust Inc. to 'buy'
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Education Realty Trust CEO Paul Bower to retire
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Education Realty Trust Announces Second Quarter 2009 Results
News & Analysis
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education realty trust inc. - All News and Analysis
Education Realty Trust Inc. Q3 2009 Earnings Call Transcript
Question-and-Answer Session Operator (Operator Instructions.) Our first question comes from Anthony Paolone – JP Morgan. Joe Dossier for Anthony Paolone – JP Morgan It's Joe Dossier, here with Tony. Question on the 2% decline in the rents of the legacy portfolio. Was that dragged down...
Education Realty Trust Inc. Q4 2008 Earnings Call Transcript
Question-and-Answer SessionOperator Thank you, sir. Operator Instructions Our first question comes from the line of Michelle Ko with UBS. Michelle Ko - UBS Hi, I was just wondering; aside from the three week markets that you have, Kalamazoo, Gainesville and Oxford, are you seeing any other particularly weak markets...
Education Realty Trust, Inc. Q3 2008 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Our first question comes from Karin Ford - Keybanc Capital Markets. Karin Ford - Keybanc Capital Markets My first question is on your line of credit, the extension for March 2009. Is that option to extend solely your option and is there any...
Education Realty Trust Inc.Q2 2008 Earnings Call Transcript
Question-and-Answer SessionOperator Thank you, sir. We will now begin the question-and-answer session. Operator Instructions. And our first question comes from Karin Ford with KeyBanc Capital Markets. Go ahead, please. Karin Ford - KeyBanc Capital Markets Hi, good morning, guys. First question just relates to your comments on the increase...
Education Realty Trust, Inc. Q1 2008 Earnings Call Transcript
Question-and-Answer Session Operator Thank you, sir. Operator Instructions Your first question comes from Anthony Paolone - J.P. Morgan. Anthony Paolone - J.P. Morgan Do you guys find yourselves having to make any rent concessions or other sorts of concessions in the Place portfolio to help in...
Education Realty Trust, Inc. Q4 2007 Earnings Call Transcript
Question-and-Answer Session Operator [Operator Instructions] The first question comes from the line of Karin Ford from KeyBanc Capital Markets. Karin Ford – KeyBanc Capital Markets First question is on the pre-lease for ’08-’09 school year. What type of rent increases are you getting on the pre-leasing you’ve done...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Drew J. Koester | Chief Accounting Officer, Vice President & Assistant Secretary |
| J. Drew Koester | Chief Accounting Officer & Vice President |
| J.Drew Koester | Chief Accounting Officer, Vice President & Assistant Secretary |
| Randall H. Brown | Executive Vice President and Chief Financial Officer |
| Thomas Trubiana | Senior Vice President and Chief Investment Officer |
| Craig L. Cardwell | Executive Vice President, President of Aoes, Inc. |
| Thomas J. Hickey | Senior Vice President of Operations |
| Wallace L. Wilcox | Senior Vice President of Construction and Engineering |
| William W. Harris | Senior Vice President of Development |
| Susan Arrison | Vice President of Human Resources |
| Randall A. Churchey | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Paul O. Bower | Chairman, Chief Executive Officer and President |
| Wendell W. Weakley | Independent Director, Chair of the Audit Committee |
| John L Ford | Board of Directors |
| Monte J. Barrow | Board of Directors |
| Randy L Churchey | Board of Directors |
| William J. Cahill | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Allen & O'Hara, Inc. | Chairman, Chief Executive Officer and President | Current |
| Education Realty Trust, Inc. | Chairman, Chief Executive Officer and President | Current |
| Realtors Limited | Board of Directors | Current |
| Youth Villages | Board of Directors | Current |
| Allen & O'Hara, Inc. | Assistant General Manager | Former |
| Allen & O'Hara, Inc. | Regional Director | Former |
| Allen & O'Hara, Inc. | Branch Manager | Former |
| Ohara Inc. | Former |
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Chief Accounting Officer, Vice President & Assistant Secretary | Current |
J. Drew Koester , age 36, is the Vice President, Assistant Secretary and Chief Accounting Officer. Mr. Koester joined Allen & O Hara in September 2004. From January 1999 until September 2004, Mr. Koester served as Vice President of Finance for TruGreen Companies, LLC, a division of The ServiceMaster Company. From August 1998 until January 1999, Mr. Koester was a financial analyst at The ServiceMaster Company. Mr. Koester began his career at Deloitte & Touche LLP, and was a Financial Reporting Manager for Continental PET Technologies prior to joining The ServiceMaster Company. Mr. Koester is a Certified Public Accountant (inactive).
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Chief Accounting Officer & Vice President | Current |
| Education Realty Trust, Inc. | Board of Directors | Current |
| Allen & O'Hara, Inc. | Vice President and Chief Accounting Officer | Former |
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Chief Accounting Officer, Vice President & Assistant Secretary | Current |
Randall H. Brown is the Executive Vice President, Chief Financial Officer, Treasurer and Secretary. Mr. Brown joined Allen & O’Hara as its Chief Financial Officer, Treasurer and Secretary in June 1999. Prior to joining Allen & O’Hara, Mr. Brown served as director of corporate finance for Promus Hotel Corporation (now part of Hilton Hotels Corporation). Prior to his promotion to director of corporate finance, Mr. Brown served as manager of capital analysis and planning for Promus. Mr. Brown began his career at PriceWaterhouse and also held various financial and accounting positions at Holiday Inns, Inc. and International Paper Company. Mr. Brown is a Certified Public Accountant (inactive), and is a member of the American Institute of Certified Public Accountants.
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Executive Vice President and Chief Financial Officer | Current |
| Education Realty Trust, Inc. | Board of Directors | Current |
| American Institute of Certified Public Accountants | Board of Directors | Current |
| American Institute of Certified Public Accountants | Member | Current |
| Allen & O'Hara, Inc. | Chief Financial Officer | Former |
| Promus Hotel Corporation | Director of Corporate Finance | Former |
| International Paper Company | Former | |
| Allen & O'Hara, Inc. | Board of Directors | Former |
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Senior Vice President and Chief Investment Officer | Current |
| American Campus Communities, Inc. | President | Former |
| Allen & O'Hara, Inc. | Assistant | Former |
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Executive Vice President, President of Aoes, Inc. | Current |
| Allen & O'Hara, Inc. | Executive Vice President | Current |
| Institute of Real Estate Management | Board of Directors | Current |
| Education Realty Trust, Inc. | Director | Current |
| Education Realty Trust, Inc. | President, Allen & OHara Education Services, Inc | Former |
| Education Realty Trust, Inc. | Chief Investment Officer | Former |
| Education Realty Trust, Inc. | Vice President | Former |
| Allen & O'Hara, Inc. | Vice President, Real Estate | Former |
| The Castilian | General Manager | Former |
| Apartments.Com | Regional Director | Former |
Thomas J. Hickey , age 60, is the Senior Vice President of Operations. Mr. Hickey joined Allen & O Hara in 1972 and has served as Assistant General Manager at Granville Towers (University of North Carolina), General Manager at Osceola Hall (Florida State University), General Manager of Fontana Hall (University of South Florida), and Regional Director of the housing/foodservice group of the management services department. Mr. Hickey was promoted to Vice President of the apartment group in 1983, Vice President of Operations in 1984 and he assumed responsibilities relating to Vice President of Management Services in 1988. Mr. Hickey is both a current member and past president of the Memphis chapter of the IREM. He also holds the Certified Property Manager designation conferred by the IREM and was chairman of the board of directors of the Diocese of Memphis Housing Corporation.
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Senior Vice President of Operations | Current |
| Education Realty Trust, Inc. | Board of Directors | Current |
| Allen & O'Hara, Inc. | Senior Vice President of Operations | Former |
| Allen & O'Hara, Inc. | Vice President, Student Housing | Former |
| Education, Inc. | Chairman | Former |
| University of Kansas | B.S. Journalism | Former |
Wallace L. Wilcox , age 59, is the Senior Vice President of Construction and Engineering. Mr. Wilcox joined Allen & O'Hara in 1980 and has served in various capacities in the areas of project management, maintenance and engineering. He became Vice President of Construction and Engineering for Allen & O'Hara in May 2000. For the past 29 years, Mr. Wilcox has supervised the construction and development of student housing communities as well as hotels, office buildings and churches.
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Senior Vice President of Construction and Engineering | Current |
| Education Realty Trust, Inc. | Vice President, Construction & Engineering | Current |
| Education Realty Trust, Inc. | Board of Directors | Current |
| Allen & O'Hara, Inc. | Vice President of Construction and Engineering | Former |
| Ffe | Former |
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Senior Vice President of Development | Current |
| Lambda Alpha International | Board of Directors | Current |
| Education Realty Trust, Inc. | Board of Directors | Current |
| Lambda Alpha International | Member | Current |
| Education Realty Trust, Inc. | President, Allen & O'Hara Dev Company | Former |
| Allen & O'Hara, Inc. | Senior Vice President | Former |
| Allen & O'Hara, Inc. | Vice President, Real Estate | Former |
| Rhodes College | Bachelor of Arts Degree | Former |
| Duke University | Former |
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Vice President of Human Resources | Current |
| Education Realty Trust, Inc. | Board of Directors | Current |
| Allen & O'Hara, Inc. | Vice President of Human Resources | Former |
| The University of Mississippi | M.A. | Former |
| University of Mississippi | M.A. | Former |
Wendell W. Weakley is the President and CEO of the University of Mississippi Foundation. Prior to joining the Foundation on July 1, 2006, he was with PricewaterhouseCoopers LLP (“PwC”) from August 1976 to June 2006. Mr. Weakley was an audit partner with PwC serving public clients in the manufacturing, distribution and retail sectors in the Memphis, Dallas and Tampa offices over his career. As an audit manager, he also served a two-year international tour of duty with PwC. He has served as the Office Managing Partner for the Memphis office of Price Waterhouse as well as the audit and industry leader in the Dallas/Ft. Worth market for PwC. He was also a Regional Risk Management partner for PwC. Mr. Weakley is a Certified Public Accountant.
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Independent Director, Chair of the Audit Committee | Current |
| Education Realty Trust, Inc. | Board of Directors | Current |
| Education Realty Trust, Inc. | President and CEO of the University of Mississippi Foundation | Former |
John L. Ford , age 61, has served as a member of our Board of Directors since January 2005. Dr. Ford is the Senior Vice President and Dean of Campus Life at Emory University where he oversees student housing and seventeen other departments. Dr. Ford was a professor of policy analysis and management and the dean of students at Cornell University from 1992 to 2000. He has held administrative, academic or research positions at: the University of Exeter in England, the University of British Columbia in Canada, the Japanese Nursing Association in Japan, the Dokkyo University Medical School in Japan, Johns Hopkins University, and the University of Chicago. Dr. Ford is currently a member of the Board of Trustees of the University of the South and a member of the Board of Directors of the Alliance to Improve Emory Village.
| Organization | Position | Status |
|---|---|---|
| Emory University | Senior Vice President | Current |
| Emory University | Dean of Campus Life | Current |
| The University of the South | Board of Directors | Current |
| Education Realty Trust, Inc. | Board of Directors | Current |
| Bringing Theory to Practice | Board of Directors | Current |
| Education Realty Trust, Inc. | Independent Director, Chair of Nominating and Corporate Governance Committee | Former |
| University of Exeter | Former |
Monte J. Barrow has served as a member of our Board of Directors since January 2005. From February 1982 until August 2002, Mr. Barrow served as the Chief Financial Officer and Senior Vice President of MS Carriers, Inc., a publicly-traded trucking transportation company (NASDAQ: MSCA). While serving as Chief Financial Officer of MS Carriers, Mr. Barrow was responsible for the accounting, financial, human resources and information technology departments of EDR. Mr. Barrow retired in August 2002, following the sale of MS Carriers to Swift Transportation Company, Inc. Since February 2003, Mr. Barrow has been self-employed as the owner and operator of two privately-held businesses.
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Board of Directors | Current |
Mr. Churchey is currently the Chief Executive Officer of Great Wolf Resorts (Nasdaq: WOLF). Previously he was, from 1999 until its sale in 2003, the Director, President and Chief Operating Officer of RFS Hotel Investors (NYSE:RFS), an owner and manager of 58 hotels. Mr. Churchey currently serves as Director of Innkeepers USA Trust (NYSE:KPA) and Education Realty Trust (NYSE: EDR). He was the CEO of Golden Gate National Senior Care, the successor entity to Beverly Enterprises. Prior to joining RFS (1997-1999), Mr. Churchey was Senior Vice President and CFO of FelCor Lodging Trust, a publicly traded hotel REIT with a total market capitalization (at the time) of over $3 billion. In that capacity, he was responsible for FelCor's capital market activities and the supervision of all financial, treasury, investor relations and reporting functions. For approximately 15 years prior to joining FelCor, Mr. Churchey held various positions in the audit practice of Coopers & Lybrand, LLP, including Chairman of the firm's Hospitality and Real Estate practice for the Southwestern United States. Mr. Churchey holds a B.S. degree in accounting from the University of Alabama and is a C.P.A.
| Organization | Position | Status |
|---|---|---|
| Great Wolf Resorts, Inc. | Chief Executive Officer | Current |
| McR Development LLC | Co-Chairman | Current |
| Innkeepers USA Trust | Director | Current |
| Education Realty Trust, Inc. | Director | Current |
| FelCor Lodging Trust Incorporated | CFO | Former |
| FelCor Lodging Trust Incorporated | Senior Vice President | Former |
| The University of Alabama | B.S. Degree In Accounting | Former |
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Board of Directors | Current |
William J. Cahill, III has served as a member of our Board of Directors since January 2005. Mr. Cahill has served as the Corporate Vice President of Human Resources of FedEx Corporation (NYSE: FDX) since June 2004 and served as Vice President of Human Resources of FedEx Corporation from February 1998 until June 2004. He has been with FedEx since December 1979. In his current role, Mr. Cahill is responsible for executive compensation, succession planning, healthcare strategy, retirement investment, employment, legal compliance and other human resources functions at FedEx Corporation.
| Organization | Position | Status |
|---|---|---|
| Education Realty Trust, Inc. | Board of Directors | Current |
| Education Realty Trust, Inc. | Independent Director, Chairman, Compensation Committee | Former |
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