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

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

Institutional Trading of Associated Estates Realty

A number of large investors have recently made changes to their positions in AEC. Vident Advisory LLC acquired a new position in shares of Associated Estates Realty in the third quarter valued at approximately $2,525,000. Jane Street Group LLC acquired a new position in Associated Estates Realty in the fourth quarter valued at $1,188,000. Marshall Wace LLP acquired a new stake in Associated Estates Realty during the 4th quarter worth approximately $528,000. Bank of America Corp DE increased its position in shares of Associated Estates Realty by 113.1% in the first 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 in the last quarter. Finally, Extract Advisors LLC lifted its stake 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 purchasing an additional 82,622 shares in the last quarter. Institutional investors and hedge funds own 85.42% of the company’s stock.

Associated Estates Realty Price Performance

Shares of NASDAQ AEC traded up $0.02 during trading on Thursday, hitting $4.68. 46,484 shares of the company were exchanged, compared to its average volume of 63,981. The firm’s fifty day moving average price is $4.35 and its 200 day moving average price is $5.09. Associated Estates Realty has a 1 year low of $3.66 and a 1 year high of $12.49.

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

Analyst Upgrades and Downgrades

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

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.