Short Interest in Associated Estates Realty Corp (NASDAQ:AEC) Drops By 74.2%

Associated Estates Realty Corp (NASDAQ:AEC – Get Free Report) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 71,606 shares, a decrease of 74.2% from the July 30th total of 277,613 shares. Based on an average daily trading volume, of 45,814 shares, the short-interest ratio is presently 1.6 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Associated Estates Realty in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

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Institutional Trading of Associated Estates Realty

Several large investors have recently made changes to their positions in AEC. Bank of America Corp DE lifted its holdings in Associated Estates Realty by 113.1% in the 1st quarter. Bank of America Corp DE now owns 189,759 shares of the real estate investment trust’s stock valued at $1,059,000 after purchasing an additional 100,728 shares in the last quarter. Extract Advisors LLC grew its holdings in shares of Associated Estates Realty by 88.2% during the first quarter. Extract Advisors LLC now owns 176,272 shares of the real estate investment trust’s stock worth $984,000 after buying an additional 82,622 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Associated Estates Realty in the first quarter valued at about $315,000. XTX Topco Ltd acquired a new position in Associated Estates Realty during the fourth quarter worth about $76,000. Finally, Quadrature Capital Ltd acquired a new position in Associated Estates Realty during the fourth quarter worth about $128,000. 85.42% of the stock is currently owned by hedge funds and other institutional investors.

Associated Estates Realty Trading Down 5.1%

Shares of AEC stock traded down $0.24 during trading hours on Friday, hitting $4.43. 13,935 shares of the company’s stock were exchanged, compared to its average volume of 63,696. Associated Estates Realty has a fifty-two week low of $3.66 and a fifty-two week high of $12.49. The firm has a 50 day moving average of $4.34 and a two-hundred day moving average of $5.08.

Associated Estates Realty (NASDAQ:AEC – Get Free Report) last released its quarterly earnings results on Friday, May 15th. The real estate investment trust reported ($0.29) earnings per share (EPS) for the quarter.

Associated Estates Realty Company Profile

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Associated Estates Realty Corporation is a self-administered and self-managed equity real estate investment trust (REIT). The Company is engaged primarily in the ownership and operation of multifamily apartment units. It specializes in multifamily ownership, operation, acquisition, development, disposition and property management activities. Its operating portfolio consists of approximately 49 apartment communities containing around 12,734 units in eight states that are owned, either directly or indirectly, through its subsidiaries.

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