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

Associated Estates Realty Corp (NASDAQ:AEC) was the target of a large increase in short interest in June. As of June 15th, there was short interest totaling 77,195 shares, an increase of 164.9% from the May 31st total of 29,146 shares. Based on an average daily volume of 52,075 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings initiated coverage on Associated Estates Realty in a research report on Wednesday, April 8th. They set a “sell (d-)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Associated Estates Realty Stock Down 0.5%

NASDAQ:AEC opened at $4.06 on Monday. Associated Estates Realty has a 1 year low of $3.66 and a 1 year high of $12.49. The stock’s 50 day simple moving average is $4.73 and its two-hundred day simple moving average is $5.73.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AEC. Vident Advisory LLC bought a new stake in Associated Estates Realty in the third quarter worth $2,525,000. Jane Street Group LLC bought a new position in Associated Estates Realty during the fourth quarter valued at $1,188,000. Marshall Wace LLP bought a new position in Associated Estates Realty during the fourth quarter valued at $528,000. Bank of America Corp DE grew its stake in shares of Associated Estates Realty by 113.1% in the 1st quarter. Bank of America Corp DE now owns 189,759 shares of the real estate investment trust’s stock worth $1,059,000 after buying an additional 100,728 shares in the last quarter. Finally, Extract Advisors LLC grew its stake in shares of Associated Estates Realty by 88.2% in the 1st quarter. Extract Advisors LLC now owns 176,272 shares of the real estate investment trust’s stock worth $984,000 after buying an additional 82,622 shares in the last quarter. 85.42% of the stock is owned by hedge funds and other 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.