Associated Estates Realty Corp (NASDAQ:AEC) Short Interest Down 33.7% in May

Associated Estates Realty Corp (NASDAQ:AEC) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 29,146 shares, a drop 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 currently 0.6 days.

Institutional Investors Weigh In On Associated Estates Realty

Several institutional investors and hedge funds have recently bought and sold shares of AEC. Vident Advisory LLC bought a new stake in Associated Estates Realty in the 3rd quarter valued at $2,525,000. Jane Street Group LLC bought a new stake in Associated Estates Realty in the 4th quarter valued at $1,188,000. Marshall Wace LLP bought a new stake in Associated Estates Realty in the 4th quarter valued at $528,000. Bank of America Corp DE increased its holdings in 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 valued at $1,059,000 after buying an additional 100,728 shares during the period. Finally, Extract Advisors LLC increased its holdings in 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 valued at $984,000 after buying an additional 82,622 shares during the period. Institutional investors own 85.42% of the company’s stock.

Associated Estates Realty Price Performance

Shares of Associated Estates Realty stock opened at $4.26 on Tuesday. The company’s fifty day moving average price is $4.92 and its two-hundred day moving average price is $5.86. Associated Estates Realty has a 52-week low of $3.66 and a 52-week high of $12.49.

Wall Street Analysts Forecast Growth

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