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Education Realty Operating Partnership L P (1351345) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Education Realty Operating Partnership L

CIK: 1351345


edrchlogogreen.jpg


EdR ANNOUNCES FIRST QUARTER 2018 RESULTS


MEMPHIS, TN, April 30, 2018 - EdR (NYSE:EDR) (the "Company"), one of the nation’s largest developers, owners and managers of high-quality collegiate housing communities, today announced results for the quarter ended
March 31, 2018.

The following compares the Company's net income, operating income, same-community net operating income and Core Funds from Operations ("Core FFO") for the quarter ended March 31, 2018 to the same period in 2017 (in millions except per share/unit data):

 
 
Three months ended March 31,
 
 
 
2018
 
2017
 
 
 
 
 
 
 
Net income attributable to common shareholders
 
$41.0
 
$16.2
 
Per diluted share/unit
 
$0.53
 
$0.21
 
 
 
 
 
 
 
Operating income
 
$24.4
 
$18.4
 
 
 
 
 
 
 
Same-community net operating income (NOI)
 
$46.5
 
$47.2
 
 
 
 
 
 
 
 
 
 
 
 
 
Core FFO
 
$43.7
 
$44.0
 
Per share/unit
 
$0.57
 
$0.60
 
Per share/unit change
 
(5.0
)%
 
 
 


Company Highlights

Completed the disposition of five communities through April of 2018 for total net proceeds of $125.1 million. These communities, which averaged 0.5 miles from campus and 16 years old, sold for a 6.0% economic cap rate. The Company recognized a $21.4 million gain on sales completed in the first quarter and anticipates an additional gain of approximately $21.0 million on the dispositions completed in April,
Began construction in February on College View, a 656-bed, mixed use, ONE Plan community on the campus of Mississippi State University. The $69.2 million community is targeting a summer 2019 delivery,

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The following information was filed by Education Realty Operating Partnership L P on Monday, April 30, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Education Realty Operating Partnership L P's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Derivatives And Hedging Activities - Schedule Of Fair Value Hedging Instruments, Statements Of Financial Performance And Financial Position, Location (Details)
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Equity
Condensed Consolidated Statements Of Changes In Partners' Capital And Noncontrolling Interests
Condensed Consolidated Statements Of Income And Comprehensive Income
Acquisition And Development Of Real Estate Investments
Acquisition And Development Of Real Estate Investments (Tables)
Acquisition And Development Of Real Estate Investments - Additional Information (Details)
Acquisition And Development Of Real Estate Investments - Collegiate Housing Community Acquisitions (Details)
Acquisition And Development Of Real Estate Investments - Development Of Collegiate Housing Properties (Details)
Acquisition And Development Of Real Estate Investments - Fair Values Of Assets Acquired And Liabilities Assumed (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Scheduled Maturities Of Outstanding Mortgage And Construction Indebtedness (Details)
Debt - Unsecured Debt (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Details)
Derivatives And Hedging Activities (Tables)
Derivatives And Hedging Activities - Schedule Of Fair Value Of Derivatives And Interest Rate Swaps (Details)
Derivatives And Hedging Activities Derivatives And Hedging Activities - Effect On Comprehensive Income (Details)
Disposition Of Real Estate Investments
Disposition Of Real Estate Investments (Tables)
Disposition Of Real Estate Investments - Additional Information (Details)
Earnings Per Share/Unit
Earnings Per Share/Unit (Tables)
Earnings Per Share/Unit - Erop (Details)
Earnings Per Share/Unit - The Trust (Details)
Equity
Equity - Additional Information (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Details)
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Carrying Amounts And Fair Value Of Financial Instruments (Details)
Fair Value Of Financial Instruments - Schedule Of Liabilities Measured At Fair Value (Details)
Incentive Plans
Incentive Plans (Tables)
Incentive Plans - Additional Information (Details)
Incentive Plans - Stock-Based Incentive Plan Activity (Details)
Investments In Unconsolidated Entities
Investments In Unconsolidated Entities (Tables)
Investments In Unconsolidated Entities - Additional Information (Details)
Investments In Unconsolidated Entities - Financial Information Of Unconsolidated Joint Ventures Limited Liability Companies And Limited Partnerships (Details)
Noncontrolling Interests
Noncontrolling Interests (Tables)
Noncontrolling Interests - Activity (Details)
Noncontrolling Interests - Additional Information (Details)
Organization And Description Of Business
Organization And Description Of Business - Additional Information (Details)
Segments
Segments (Tables)
Segments - Additional Information (Details)
Segments - Segment Information (Details)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Collegiate Housing Properties (Details)
Summary Of Significant Accounting Policies - Goodwill And Other Intangible Assets (Details)
Summary Of Significant Accounting Policies - Income Taxes (Details)
Summary Of Significant Accounting Policies - Recent Accounting Pronouncements (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies - Restricted Cash (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies - Revenue Recognition (Details)
CIK: 1351345
Form Type: 10-Q Quarterly Report
Accession Number: 0001302343-18-000111
Submitted to the SEC: Wed Aug 08 2018 6:08:55 AM EST
Accepted by the SEC: Wed Aug 08 2018
Period: Saturday, June 30, 2018
Industry: Real Estate Investment Trusts

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