Associated Estates Realty Corp (NASDAQ:AEC) Short Interest Up 151.0% in June

Associated Estates Realty Corp (NASDAQ:AEC) was the recipient 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 days-to-cover ratio is currently 2.8 days.

Associated Estates Realty Trading Down 1.9%

Shares of Associated Estates Realty stock opened at $4.17 on Tuesday. Associated Estates Realty has a 12 month low of $3.66 and a 12 month high of $12.49. The business’s 50-day moving average price is $4.46 and its 200-day moving average price is $5.65.

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

Analyst Upgrades and Downgrades

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, According to data from MarketBeat.com, the stock 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 stake in shares of Associated Estates Realty in the 3rd quarter valued at $2,525,000. Jane Street Group LLC purchased a new position in Associated Estates Realty in the 4th quarter worth $1,188,000. Marshall Wace LLP bought a new stake in Associated Estates Realty in the fourth quarter worth $528,000. Bank of America Corp DE lifted its stake in 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 purchasing an additional 100,728 shares during the last quarter. Finally, Extract Advisors LLC lifted its stake in Associated Estates Realty by 88.2% in 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 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.