Associated Estates Realty Corporation Third Quarter Earnings Sneak Peek

Associated Estates Realty Corporation (NASDAQ:AEC) will unveil its latest earnings on Monday, October 24, 2011. Associated Estates Realty is a fully integrated multifamily real estate company engaged in property acquisition, advisory, development, construction, management, disposition, operation, and ownership activities.

Associated Estates Realty Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 28 cents per share, a rise of 16.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 27 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 28 cents during the last month. Analysts are projecting profit to rise by 27.1% versus last year to $1.08.

Last quarter, the company came in at profit of 27 cents per share against a mean estimate of net income of 26 cents per share, beating estimates after missing them in the previous quarter. In the first quarter, it missed forecasts by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $42.3 million in revenue this quarter, a rise of 23.1% from the year ago quarter. Analysts are forecasting total revenue of $165.1 million for the year, a rise of 7.4% from last year’s revenue of $153.7 million.

Analyst Ratings: Analysts are bullish on this stock with eight analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

A Look Back: In the second quarter, the company’s loss narrowed to a loss of $1.6 million (4 cents a share) from a loss of $2.6 million (17 cents) a year earlier, beating analyst expectations. Revenue rose 30.6% to $45.5 million from $34.9 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 31.4%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 40.9% from the year earlier quarter.

Competitors to Watch: Colonial Properties Trust (NYSE:CLP), UDR, Inc. (NYSE:UDR), Camden Property Trust (NYSE:CPT), Equity Residential (NYSE:EQR), BRE Properties, Inc. (NYSE:BRE), Mid-America Apartment (NYSE:MAA), AvalonBay Communities, Inc. (NYSE:AVB), Home Properties, Inc. (NYSE:HME), Post Properties, Inc. (NYSE:PPS), and Apartment Investment and Management Co. (NYSE:AIV).

Stock Price Performance: During July 25, 2011 to October 18, 2011, the stock price had fallen $1.66 (-9.4%) from $17.65 to $15.99. It saw one of its worst periods between July 29, 2011 and August 8, 2011 when shares fell for seven-straight days, falling 18.3% (-$3.29) over that span. The stock price saw one of its best stretches over the last year between March 25, 2011 and April 6, 2011 when shares rose for nine-straight days, rising 5.4% (+81 cents) over that span. Shares are up $1.35 (+9.2%) year to date.

(Source: Xignite Financials)

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