Associated Estates Realty Given “Buy” Rating at Compass Point (AEC)
Associated Estates Realty (NYSE:AEC)‘s stock had its “buy” rating reiterated by research analysts at Compass Point in a report released on Thursday. They currently have a $20.00 price objective on the stock, up from their previous price objective of $18.00. Compass Point’s target price points to a potential upside of 11.42% from the stock’s previous close.
The analysts wrote, “We reiterate our Buy rating on shares of AEC and raise our price target to $20.00 from $18.00. Management’s SSNOI guidance cut after strong 1H14 results and continued criticism from the Street regarding management’s capital allocation decisions cloud the picture a bit, but impressive cap rates on recent dispositions and the option value of a possible accretive corporate-level transaction continue to make AEC a name worth owning. We are raising our price target to $20 via a 25 bps reduction in our assumed cap rate on the company’s portfolio (to 6.0%). Our price target also represents the current 4.2% dividend yield on a 70% payout of our $1.24 2015 AFFO estimate.”
Shares of Associated Estates Realty (NYSE:AEC) opened at 17.95 on Thursday. Associated Estates Realty has a 1-year low of $13.10 and a 1-year high of $18.81. The stock’s 50-day moving average is $17.90 and its 200-day moving average is $17.18. The company has a market cap of $1.033 billion and a price-to-earnings ratio of 10.35.
Associated Estates Realty (NYSE:AEC) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.01. The company had revenue of $47.90 million for the quarter, compared to the consensus estimate of $48.90 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts expect that Associated Estates Realty will post $1.28 EPS for the current fiscal year.
AEC has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Associated Estates Realty from $17.00 to $18.00 in a research note on Tuesday, July 22nd. Separately, analysts at Citigroup Inc. downgraded shares of Associated Estates Realty from a “neutral” rating to a “sell” rating in a research note on Thursday, June 12th. They now have a $16.00 price target on the stock. Finally, analysts at MLV & Co
raised their price target on shares of Associated Estates Realty from $19.00 to $21.00 in a research note on Friday, May 2nd. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.47.
Associated Estates Realty Corporation (NYSE:AEC), is an integrated, self-administered and self-managed equity real estate investment trust (REIT).
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