Associated Estates Realty (NASDAQ:AEC) Now Covered by Roth Capital

Stock analysts at Roth Capital initiated coverage on shares of Associated Estates Realty (NASDAQ:AEC) in a report issued on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $5.00 price target on the real estate investment trust’s stock. Roth Capital‘s price objective suggests a potential upside of 65.56% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Associated Estates Realty in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.00.

Associated Estates Realty Price Performance

Shares of Associated Estates Realty stock opened at $3.02 on Wednesday. The company’s 50-day moving average price is $3.70 and its 200-day moving average price is $5.02. Associated Estates Realty has a 12-month low of $2.70 and a 12-month high of $10.24.

Hedge Funds Weigh In On Associated Estates Realty

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of Associated Estates Realty by 113.1% in the first 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 during the period. Extract Advisors LLC lifted its stake in shares of Associated Estates Realty by 88.2% during the 1st quarter. Extract Advisors LLC now owns 176,272 shares of the real estate investment trust’s stock worth $984,000 after acquiring an additional 82,622 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of Associated Estates Realty by 86.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 177,505 shares of the real estate investment trust’s stock worth $776,000 after acquiring an additional 82,400 shares during the last quarter. Hedge funds and other institutional investors own 85.42% of the company’s stock.

Associated Estates Realty Company Profile

Associated Estates Realty Corporation was a real estate investment trust (REIT) focused on the ownership, management and development of multifamily apartment communities. The company generated revenue primarily through residential rents and provided property management and related services for its portfolio of apartment properties.

Before becoming a private company, Associated Estates operated primarily in selected markets across the Midwest and Mid-Atlantic regions of the United States.