Associated Estates Realty Corp (NASDAQ:AEC) Short Interest Down 33.7% in May

Associated Estates Realty Corp (NASDAQ:AEC) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 29,146 shares, a decline of 33.7% from the May 14th total of 43,940 shares. Based on an average trading volume of 52,449 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings began coverage on shares of Associated Estates Realty in a research note on Wednesday, April 8th. They issued a “sell (d-)” rating for the company. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Trading of Associated Estates Realty

A number of institutional investors and hedge funds have recently modified their holdings of AEC. Bastion Asset Management Inc. acquired a new stake in shares of Associated Estates Realty in the third quarter worth $588,000. Pekin Hardy Strauss Inc. bought a new position in Associated Estates Realty during the third quarter worth $402,000. MMCAP International Inc. SPC bought a new position in Associated Estates Realty during the third quarter worth $392,000. Fifth Lane Capital LP bought a new position in Associated Estates Realty during the third quarter worth $202,000. Finally, Vident Advisory LLC bought a new position in Associated Estates Realty during the third quarter worth $2,525,000. 85.42% of the stock is currently owned by institutional investors and hedge funds.

Associated Estates Realty Stock Performance

Shares of Associated Estates Realty stock opened at $4.26 on Tuesday. The firm has a fifty day simple moving average of $4.92 and a 200-day simple moving average of $5.86. Associated Estates Realty has a 1-year low of $3.66 and a 1-year high of $12.49.

Associated Estates Realty Company Profile

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.