Last $18.01 USD
Change Today -0.15 / -0.83%
Volume 176.9K
AEC On Other Exchanges
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As of 1:54 PM 07/24/14 All times are local (Market data is delayed by at least 15 minutes).

associated estates realty cp (AEC) Key Developments

Associated Estates Realty Corporation Acquires Apartment Communities on June 10, 2014

Associated Estates Realty Corporation acquired Alpha Mill Phase I, a 167-unit apartment community, and Alpha Mill Phase ll, a 100-unit apartment community, on June 10, 2014. These two properties are part of the previously announced portfolio acquisition from entities controlled by Northwood Ravin, LLC. The aggregate purchase price of properties acquired in the Northwood Ravin portfolio acquisition exceeded 10% of the company's total assets as of December 31, 2012.

Associated Estates Declares Common Share Dividend, Payable on August 1, 2014

Associated Estates Realty Corporation announced that a quarterly dividend of $0.19 per share has been declared on the Company's common shares, payable on August 1, 2014 to shareholders of record on July 15, 2014.

Associated Estates Realty Elects Jeffrey I. Friedman as Director

Associated Estates Realty at the Annual Meeting of Shareholders held on May 7, 2014, elected Jeffrey I. Friedman as director for a one-year term and until his respective successor is duly elected and qualified.

Associated Estates Mulls Acquisitions

Associated Estates Realty Corporation (NYSE:AEC) is looking for acquisitions. An unidentified company representative of Associated Estates said, "Our boot's on the ground in various markets are keeping their finger on the pulse of things. We're looking for anomalies but we have no plans to acquire any other assets other than those we have already contracted for at this time”.

Associated Estates Realty Corporation Announces Earnings Results for the First Quarter of 2014; Reaffirms Earnings Guidance for Full Year 2014

Associated Estates Realty Corporation announced earnings results for the first quarter of 2014. The company reported Funds from Operations (FFO) for the first quarter of 2014 were $0.30 per common share (diluted), compared to $0.31 per common share (diluted) for the first quarter of 2013. Net income applicable to common shares was $42.1 million, or $0.73 per common share (diluted), for the quarter ended March 31, 2014. This compared to net income applicable to common shares of $10.3 million, or $0.20 per common share (diluted), for the first quarter of 2013. The quarter-over-quarter increase in net income was driven by a $41.0 million gain associated with the sale of one property in the first quarter of 2014 versus a gain of $8.8 million associated with the sale of one property in the first quarter of 2013. Net operating income (NOI) for the first quarter of 2014 for the Company's same community portfolio increased 1.8% compared to the first quarter of 2013. Revenue increased 3.1%, and property operating expenses increased 5.2%. Total revenue was $49,715,000 against $42,856,000 a year ago. Funds from operations (FFO) were $17,076,000 against $15,589,000 a year ago. The Company announced that it has reaffirmed its 2014 guidance.

 

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Valuation AEC Industry Range
Price/Earnings 20.9x
Price/Sales 5.5x
Price/Book 1.8x
Price/Cash Flow 6.8x
TEV/Sales 1.4x
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