Associated Estates Realty Corp. (NYSE:AEC) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Associated Estates Realty Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 3.13% to $0.31 in the quarter versus EPS of $0.32 in the year-earlier quarter.
Revenue: Rose 7.78% to $45.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Associated Estates Realty Corp. reported adjusted EPS income of $0.31 per share. By that measure, the company missed the mean analyst estimate of $0.32. It missed the average revenue estimate of $45.72 million.
Quoting Management: “The fundamentals of the apartment business remain solid and our properties are well positioned to continue to benefit,” said Jeffrey I. Friedman, President and Chief Executive Officer. “We’re full and rents are growing quite nicely,” Friedman continued.
Key Stats (on next page)…