Short Interest in Associated Estates Realty Corp (NASDAQ:AEC) Increases By 151.0%

Associated Estates Realty Corp (NASDAQ:AEC) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 193,791 shares, an increase of 151.0% from the June 15th total of 77,195 shares. Based on an average daily trading volume, of 69,201 shares, the short-interest ratio is presently 2.8 days.

Associated Estates Realty Trading Down 2.2%

AEC opened at $4.43 on Thursday. The stock has a 50-day moving average price of $4.44 and a 200-day moving average price of $5.64. Associated Estates Realty has a 12-month low of $3.66 and a 12-month high of $12.49.

Associated Estates Realty (NASDAQ:AEC) last announced its quarterly earnings data on Friday, May 15th. The real estate investment trust reported ($0.29) earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Associated Estates Realty in a research report on Monday, July 6th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Associated Estates Realty

Hedge funds have recently made changes to their positions in the business. Vident Advisory LLC purchased a new position in shares of Associated Estates Realty in the third quarter worth about $2,525,000. Jane Street Group LLC purchased a new stake in Associated Estates Realty during the 4th quarter valued at about $1,188,000. Marshall Wace LLP purchased a new stake in Associated Estates Realty during the 4th quarter valued at about $528,000. Bank of America Corp DE grew its position in Associated Estates Realty by 113.1% during the 1st quarter. Bank of America Corp DE now owns 189,759 shares of the real estate investment trust’s stock worth $1,059,000 after acquiring an additional 100,728 shares during the last quarter. Finally, Extract Advisors LLC grew its position in Associated Estates Realty by 88.2% during the 1st quarter. Extract Advisors LLC now owns 176,272 shares of the real estate investment trust’s stock worth $984,000 after acquiring an additional 82,622 shares during the last quarter. 85.42% of the stock is currently owned by institutional investors.

About Associated Estates Realty

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.