Associated Estates Realty Earnings: Here’s Why Shares are Down Now
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. Shares are down 0.06%.
Associated Estates Realty Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.9% to $0.31 in the quarter versus EPS of $0.29 in the year-earlier quarter.
Revenue: Rose 4.82% to $45 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 $46.31 million.
Quoting Management: “It was another strong quarter for Associated Estates. Operating fundamentals remain solid and the propensity to rent apartments continues at a generational high,” said Jeffrey I. Friedman, President and Chief Executive Officer.
Key Stats (on next page)…