Associated Estates Realty (NASDAQ:AEC) Stock Rated “Buy” in New Coverage at Roth Capital

Roth Capital initiated coverage on shares of Associated Estates Realty (NASDAQ:AEC) in a research report released on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $5.00 price target on the real estate investment trust’s stock.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Associated Estates Realty in a research report on Friday, October 2nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.00.

Associated Estates Realty Stock Performance

AEC stock opened at $3.04 on Wednesday. The business has a fifty day simple moving average of $3.63 and a 200-day simple moving average of $4.97. Associated Estates Realty has a 52 week low of $2.70 and a 52 week high of $10.24.

Institutional Investors Weigh In On Associated Estates Realty

Several institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC increased its position in shares of Associated Estates Realty by 86.6% in the second quarter. Integrated Wealth Concepts LLC now owns 177,505 shares of the real estate investment trust’s stock worth $776,000 after acquiring an additional 82,400 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 valued at $1,059,000 after acquiring an additional 100,728 shares in the last quarter. Finally, Extract Advisors LLC lifted its holdings in shares of 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 valued at $984,000 after acquiring an additional 82,622 shares in the last quarter. 85.42% of the stock is currently owned by hedge funds and other institutional investors.

Associated Estates Realty Company Profile

Associated Estates Realty Corporation was a real estate investment trust that owned, operated and managed multifamily apartment communities in the United States. The company focused on providing rental housing through apartment properties serving a range of residential markets.

Based in the Cleveland, Ohio, area, Associated Estates historically concentrated its portfolio in the Midwest and Mid-Atlantic regions, including markets in Ohio and surrounding states. Its activities included apartment property acquisition, development, redevelopment, leasing and management.

Associated Estates was led by Jeffrey I.