Associated Estates Realty Corp (NASDAQ:AEC) Sees Significant Decrease in Short Interest

Associated Estates Realty Corp (NASDAQ:AEC) saw a large decrease in short interest in May. As of May 29th, there was short interest totaling 29,146 shares, a decrease of 33.7% from the May 14th total of 43,940 shares. Based on an average daily trading volume, of 52,449 shares, the short-interest ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings began coverage on Associated Estates Realty in a report on Wednesday, April 8th. They issued a “sell (d-)” rating on the stock. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Associated Estates Realty Price Performance

Shares of AEC stock opened at $4.13 on Wednesday. The stock’s 50-day simple moving average is $4.89 and its 200-day simple moving average is $5.85. Associated Estates Realty has a fifty-two week low of $3.66 and a fifty-two week high of $12.49.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Themes Management Co LLC acquired a new position in shares of Associated Estates Realty in the fourth quarter valued at about $58,000. XTX Topco Ltd purchased a new stake in shares of Associated Estates Realty in the fourth quarter worth about $76,000. Geode Capital Management LLC purchased a new stake in shares of Associated Estates Realty in the fourth quarter worth about $93,000. Fifth Lane Capital LP purchased a new stake in shares of Associated Estates Realty in the third quarter worth about $202,000. Finally, Millennium Management LLC purchased a new stake in shares of Associated Estates Realty in the fourth quarter worth about $128,000. 85.42% of the stock is owned by institutional investors and hedge funds.

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.