Associated Estates Realty Corporation
) was a big mover last session, as the company saw its shares rise over 10% on the day. This surge can be attributable to solid volume too with far more shares changing hands than in a normal session. This sudden rise broke the most recent trend of the company, as the stock is now trading above the volatile price range of $14.45 to $15.58 in the past one-month time frame.
This independent real estate investment trust witnessed 3 downward revisions in the past month and the Zacks Consensus Estimate moved down by a notch, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher can last.
Associated Estates Realty currently has a Zacks Rank #3 (Hold) while its Earnings ESP
Some better performing REIT stocks include Chatham Lodging Trust
(CLDT - Free Report
) , Simon Property Group Inc.
(SPG - Free Report
) and First Industrial Realty Trust Inc.
(FR - Free Report
) . All these stocks carry a Zacks Rank #2 (Buy).
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