Last $18.31 USD
Change Today -0.24 / -1.29%
Volume 230.6K
AEC On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

associated estates realty cp (AEC) Snapshot

Open
$18.55
Previous Close
$18.55
Day High
$18.57
Day Low
$18.30
52 Week High
06/6/14 - $18.81
52 Week Low
09/3/13 - $13.10
Market Cap
1.1B
Average Volume 10 Days
263.8K
EPS TTM
$1.88
Shares Outstanding
57.6M
EX-Date
07/11/14
P/E TM
9.7x
Dividend
$0.76
Dividend Yield
4.15%
Current Stock Chart for ASSOCIATED ESTATES REALTY CP (AEC)

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associated estates realty cp (AEC) Details

Associated Estates Realty Corporation is an independent real estate investment trust. The firm invests in the real estate markets of the United States. It specializes in owning and managing apartment communities in the Midwest, Mid-Atlantic and Southeast regions of the United States. Associated Estates Realty Corporation is headquartered in Richmond Heights, Ohio.

associated estates realty cp (AEC) Top Compensated Officers

Executive Chairman, Chief Executive Officer, ...
Total Annual Compensation: $500.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $305.0K
Senior Vice President of Operations
Total Annual Compensation: $325.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $271.2K
Senior Vice President of Acquisitions and Dev...
Total Annual Compensation: $250.0K
Compensation as of Fiscal Year 2013.

associated estates realty cp (AEC) Key Developments

Associated Estates Realty Corporation Announces Unaudited Consolidated Proforma Earnings Results for the Six Months Ended June 30, 2014

Associated Estates Realty Corporation announced unaudited consolidated proforma earnings results for the six months ended June 30, 2014. For the period, the company reported operating income of $17.29 million, income from continuing operations of $104.62 million or $1.81 diluted per share. On proforma basis, total revenue of $98.68 million, operating income of $17.67 million, income from continuing operations of $105.002 million or $1.81 diluted per share.

Associated Estates Realty Corporation Enters into an Amended and Restated Term Loan Agreement

Associated Estates Realty Corporation announced that entered into an amended and restated term loan agreement (as amended, the amended term loan) related to its $150 million unsecured term loan. The amended term loan extends the maturity date from January 3, 2018 to January 3, 2020, and reduces the interest rate spread over LIBOR across the pricing grid. The amended term loan initially bears interest at LIBOR plus a spread of 140 basis points. The interest rate spread over LIBOR is based on the company's credit ratings, and may range from 90 to 190 basis points for LIBOR-based loans. The amended term loan was secured through PNC Capital Markets, LLC and Wells Fargo Securities, LLC acting as Co-Lead Arrangers, and PNC Bank, National Association acting as Administrative Agent. Wells Fargo Bank, N.A. acted as Syndication Agent, and U.S. Bank National Association acted as Documentation Agent. The other participating banks are Bank of America, N.A., Raymond James Bank, N.A., RBS Citizens, N.A. and Citibank, N.A. The company also entered in a third amendment to second amended and restated credit agreement to implement corresponding financial covenant modifications to the company's unsecured revolving credit facility.

Associated Estates Realty Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revises Earnings Guidance for the Full Year of 2014

Associated Estates Realty Corporation reported earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenue of $47,902,000 compared to $43,484,000 a year ago. Net income attributable to the company was $62,348,000 compared to $1,638,000 a year ago. Funds from operations were $17,803,000 compared to $15,429,000 a year ago. Funds available for distribution was $15,588,000 compared to $13,238,000 a year ago. Diluted FFO per share was $0.31 compared to $0.31 a year ago. For the six months, the company reported total revenue of $97,617,000 compared to $86,339,000 a year ago. Net income attributable to the company was $104,621,000 compared to $11,984,000 a year ago. Funds from operations were $34,879,000 compared to $31,017,000 a year ago. Funds available for distribution was $31,816,000 compared to $27,959,000 a year ago. Diluted FFO per share was $0.60 compared to $0.62 a year ago. The company revised earnings guidance for the full year of 2014. For the period, the company expects FFO per share to be in the range of $1.26 to $1.30 compared to previous guidance of $1.27 to $1.31. Same community revenue growth expected to be in the range of 2.25% to 3.00% compared to previous guidance of 2.75% to 3.75%. Same community property NOI growth expected to be in the range of 3.20% to 3.90% compared to the previous guidance of 3.40% to 4.40%.

 

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