Associated Estates Realty Corp (NASDAQ:AEC) Short Interest Up 164.9% in June

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

Associated Estates Realty Stock Performance

AEC opened at $4.06 on Monday. The firm’s fifty day moving average is $4.73 and its 200 day moving average is $5.73. Associated Estates Realty has a fifty-two week low of $3.66 and a fifty-two week high of $12.49.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vident Advisory LLC purchased a new stake in Associated Estates Realty during the 3rd quarter valued at approximately $2,525,000. Canton Hathaway LLC raised its position in shares of Associated Estates Realty by 900.0% during the fourth quarter. Canton Hathaway LLC now owns 78,000 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 70,200 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in shares of Associated Estates Realty by 96.6% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 78,150 shares of the real estate investment trust’s stock worth $401,000 after buying an additional 38,400 shares in the last quarter. Themes Management Co LLC purchased a new position in shares of Associated Estates Realty in the fourth quarter worth $58,000. Finally, Geode Capital Management LLC bought a new position in shares of Associated Estates Realty during the fourth quarter worth $93,000. 85.42% of the stock is currently owned by institutional investors.

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.