Associated Estates Realty Corporation Extends Shareholder Rights Agreement

Associated Estates Realty Corporation, a real estate investment trust (REIT), has extended its shareholder rights agreement to protect shareholders in the event of a takeover. The agreement, which was originally adopted in 1999, has been renewed through 2018. The Board of Directors believes that the agreement provides an effective means to guard against coercive takeover tactics and ensure fair treatment for shareholders. The company owns or manages 54 properties across nine states, with a total of 13,396 units.

Key Takeaways:

• The shareholder rights agreement was originally adopted on January 6, 1999, and was set to expire on January 6, 2009, but has been renewed through December 30, 2018.
• The agreement is intended to protect shareholders from coercive takeover tactics and ensure fair treatment in the event of a takeover.
• Associated Estates Realty Corporation owns or manages 54 properties with a total of 13,396 units across nine states.
• The company's Board of Directors believes that the agreement is an effective means to protect shareholders' interests.
• Associated Estates Realty Corporation is a member of the Russell 2000 Index and is listed on the NYSE and NASDAQ.
• The company reports that a Comtex SmarTrend Alert indicated an uptrend for AEC on November 3, 2008, at a price of $8.12.

Statistics:

• 13,396: total number of units owned or managed by Associated Estates Realty Corporation.
• 54: number of properties owned or managed by the company.
• 9: number of states where the company's properties are located.
• 2018: new expiration date for the shareholder rights agreement.
• $8.12: price at which Comtex SmarTrend Alert indicated an uptrend for AEC on November 3, 2008.