EdR EDR has implemented two important changes in the company’s finance division, effective Jun 1, 2015. These changes were brought about by the Memphis, TN-based residential real estate investment trust (“REIT”) to further boost its key business segment.
Notably, J. Drew Koester will serve as the senior vice president of capital markets and investor relations; while Lindsey Mackie will become the senior vice president and chief accounting officer. Koester’s earlier position will now be taken over by Mackie.
Mr. Koester, who joined EdR in Sep 2004, will be responsible for managing all day-to-day capital market and investor relations activities along with the company’s internal audit work, enterprise risk management, budgeting and financial planning. On the other hand, Ms. Mackie, who joined the company in 2013, will look after the corporate and property accounting, treasury, capital projects and financial reporting teams.
EdR is engaged in owning, managing, and developing student housing communities located near university campuses throughout the U.S. With the company experiencing growth, management felt the need to hire experts, and hence, it decided to make key changes in the managerial level of the finance division.
EdR currently has a Zacks Rank #3 (Hold).
Investors interested in the residential REIT industry may consider stocks like Armada Hoffler Properties, Inc. AHH, Campus Crest Communities, Inc. CCG and Equity LifeStyle Properties, Inc. ELS. While Armada Hoffler Properties sports a Zacks Rank #1 (Strong Buy), both Campus Crest Communities and Equity LifeStyle Properties hold a Zacks Rank #2 (Buy).
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