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Last $28.71 USD
Change Today +0.01 / 0.03%
Volume 238.6K
AEC On Other Exchanges
Symbol
Exchange
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As of 8:04 PM 07/27/15 All times are local (Market data is delayed by at least 15 minutes).

associated estates realty cp (AEC) Key Developments

Robbins Arroyo LLP Files Class Action Lawsuit Against Associated Estates Realty Corporation

Robbins Arroyo LLP announced that it filed a class action and derivative lawsuit on June 23, 2015, in the U.S. District Court for the Northern District of Ohio, Eastern Division on behalf of the shareholders of Associated Estates Realty Corporation against Associated Estates and its Board of Directors for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 and U.S. Securities and Exchange Commission Rule 14a-9 promulgated there under. Associated Estates is accused of disseminating a false and misleading proxy statement. The complaint arises out of an April 22, 2015 press release announcing that Associated Estates had entered into a definitive merger agreement with Brookfield Asset Management Inc. pursuant to which Associate Estates' Board agreed to sell Associated Estates to Brookfield for $28.75 in cash per Associate Estate share. The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated Associated Estates shareholders. The named plaintiff is represented by Robbins Arroyo LLP. The complaint alleges that, in an attempt to secure shareholder approval of the Proposed Transaction, the defendants filed a materially false and misleading Proxy Statement with the U.S. Securities and Exchange Commission in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Associated Estates shareholders' ability to make an informed decision whether to approve the Proposed Transaction.

Associated Estates Realty Corporation Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-09-2015

Associated Estates Realty Corporation Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-09-2015 . Venue: New York Hilton Midtown, 1335 Avenue of the Americas, New York, NY 10019, United States.

Associated Estates Realty Corporation Reports Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year 2015

Associated Estates Realty Corporation reported earnings results for the first quarter ended March 31, 2015. For the quarter, the company's total revenue was $48,243,000 compared to $49,715,000 a year ago. Net income applicable to common shares was $744,000 compared to $42,273,000 a year ago. The quarter over quarter decrease was driven by a $41.0 million gain associated with the sale of one property in the first quarter of 2014. Funds from operations was $16,054,000 compared to $17,076,000 a year ago. Operating FFO was $16,723,000 compared to $17,076,000 a year ago. Funds available for distribution was $16,286,000 compared to $16,229,000 a year ago. FFO - diluted per share was $0.28 compared to $0.30 a year ago. Operating FFO - diluted per share was $0.29 compared to $0.30 a year ago. NOI for the quarter ended March 31, 2015 for the Company's same community portfolio increased 2.8% compared to the quarter ended March 31, 2014. Revenue increased by 2.1% and property operating expenses increased by 1.2%. Given the company's announcement on April 22, 2015 that it had entered into an agreement and plan of merger with an affiliate of a real estate fund managed by Brookfield Asset Management, the Company is not providing an outlook for the remainder of 2015 nor updating or affirming its previously issued guidance range for the full-year 2015 for EPS and Operating FFO per share.

Associated Estates Realty Corporation to Report Q1, 2015 Results on May 01, 2015

Associated Estates Realty Corporation announced that they will report Q1, 2015 results at 9:05 PM, GMT Standard Time on May 01, 2015

Associated Estates Realty Corporation, Annual General Meeting, May 22, 2015

Associated Estates Realty Corporation, Annual General Meeting, May 22, 2015., at 10:00 US Eastern Standard Time. Location: One Cleveland Center, 1375 E. Ninth St.. Agenda: To consider elections of Directors.

 

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Valuation AEC Industry Range
Price/Earnings 16.2x
Price/Sales 8.6x
Price/Book 2.6x
Price/Cash Flow 10.0x
TEV/Sales 4.3x
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