Associated Estates Realty Corp (NASDAQ:AEC) Short Interest Down 74.2% in August

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. OLD Mission Capital LLC acquired a new position in shares of Associated Estates Realty during the fourth quarter worth about $181,000. Millennium Management LLC acquired a new position in Associated Estates Realty during the 4th quarter worth approximately $128,000. Royal Bank of Canada raised its stake in shares of Associated Estates Realty by 641.5% during the 4th quarter. Royal Bank of Canada now owns 63,355 shares of the real estate investment trust’s stock worth $325,000 after buying an additional 54,811 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Associated Estates Realty in the 4th quarter valued at approximately $528,000. Finally, Jane Street Group LLC purchased a new stake in shares of Associated Estates Realty in the fourth quarter valued at approximately $1,188,000. Institutional investors and hedge funds own 85.42% of the company’s stock.

Associated Estates Realty Stock Performance

Shares of AEC traded down $0.32 during trading hours on Friday, hitting $4.35. 48,661 shares of the company were exchanged, compared to its average volume of 63,960. The firm has a fifty day simple moving average of $4.32 and a 200-day simple moving average of $5.08. Associated Estates Realty has a one year low of $3.66 and a one year high of $12.49.

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

Wall Street Analysts Forecast Growth

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

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.