Associated Estates Realty (NASDAQ:AEC) Stock Rated “Buy” in New Coverage at Roth Capital

Stock analysts at Roth Capital assumed coverage on shares of Associated Estates Realty (NASDAQ:AEC) in a note issued to investors on Wednesday, MarketBeat Ratings 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 indicates a potential upside of 65.56% from the stock’s current price.

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

Associated Estates Realty Trading Up 8.6%

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

Institutional Trading of Associated Estates Realty

A number of institutional investors and hedge funds have recently modified their holdings of AEC. Integrated Wealth Concepts LLC increased its holdings in Associated Estates Realty by 86.6% during the second quarter. Integrated Wealth Concepts LLC now owns 177,505 shares of the real estate investment trust’s stock worth $776,000 after buying an additional 82,400 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Associated Estates Realty by 113.1% during 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 purchasing an additional 100,728 shares during the last quarter. Finally, Extract Advisors LLC lifted its stake in Associated Estates Realty by 88.2% in the first quarter. Extract Advisors LLC now owns 176,272 shares of the real estate investment trust’s stock valued at $984,000 after purchasing an additional 82,622 shares during 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 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.