Cantor Fitzgerald Starts Associated Estates Realty (AEC) at Buy; Don't Go Changing

Cantor Fitzgerald initiates coverage on Associated Estates Realty (NYSE: AEC) with a Buy. PT $21.00.

Cantor analyst said, "We believe the stock is a relative value within the heated multifamily sub-sector. Measured external growth, strong core operations, and prudent capital usage suggest the modest implied net asset value (NAV) premium should expand over time. Associated Estates is an owner/operator of multifamily properties, with Midwest origins. Other concentrations include the Mid-Atantic and Florida. Management seeks to "grow the portfolio out of" its Midwest markets, which we fear could cause the company to lose some of the characteristics that make it unique."

For an analyst ratings summary and ratings history on Associated Estates Realty click here. For more ratings news on Associated Estates Realty click here.

Shares of Associated Estates Realty closed at $16.48 yesterday.

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