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Institutional ownership roughly stable: -0.06% change quarter-over-quarter.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
How management deployed cash over 7 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -39%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 7 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $0.97 today, the market must believe free cash flow compounds -28.5%/yr for a decade (off $6M normalized FCF).
2-stage DCF · 0.04B shares · net debt -$25M
mean -1540.7% · volatility σ 2850% · implied rate exceeded in 0/4 yrs
Central path = implied -28.5%/yr growth; shaded band = ±1σ (2850%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
2/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$6M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
Top 19 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $4.5M 100.0% | $450K 100.0% | $22.1M 100.0% | $4.5M 100.0% | $19.8M 100.0% | $16.2M 100.0% | $24.3M 100.0% |
| Cost of Revenue | $3.2M 72.1% | $12.8M 2840.6% | $14.6M 66.0% | $3.7M 83.3% | $11.3M 57.1% | $12.1M 74.4% | $20.0M 82.3% |
| Gross Profit | $1.2M 27.9% | $8.3M 1851.8% | $7.5M 34.0% | $748K 16.7% | $8.5M 42.9% | $4.2M 25.6% | $4.3M 17.7% |
| Selling, General & Admin | $15.0M 335.7% | $10.8M 2408.3% | $9.5M 43.1% | $7.8M 174.9% | $23.5M 118.6% | $6.3M 39.0% | $5.9M 24.2% |
| Total Operating Expenses | $19.6M 438.9% | $25.2M 5607.3% | $25.0M 113.0% | $11.6M 258.2% | $34.8M 175.7% | $18.4M 113.5% | $31.2M 128.6% |
| Operating Income | -$15.2M -338.9% | -$4.1M -914.9% | -$2.9M -13.0% | -$7.1M -158.2% | -$15.0M -75.7% | -$2.2M -13.5% | -$6.9M -28.6% |
| Interest Expense | $55K 1.2% | $112K 24.9% | $4K 0.0% | $2K 0.0% | $317K 1.6% | $148K 0.9% | $373K 1.5% |
| Other Income (Expense), net | -$33.8M -755.3% | $102K 22.7% | -$58.3M -264.0% | -$39.1M -873.2% | -$103.5M -522.7% | -$2.5M -15.3% | -$18K -0.1% |
| Pretax Income | -$48.9M -1094.2% | -$4.0M -892.2% | -$61.2M -277.0% | -$46.2M -1031.4% | -$118.5M -598.4% | -$4.7M -28.8% | -$7.0M -28.7% |
| Income Tax Expense | $432K 9.7% | $151K 33.5% | $92K 0.4% | — | $534K 2.7% | $9K 0.1% | $431K 1.8% |
| Net Income | -$47.4M -1060.5% | -$4.0M -881.3% | -$58.9M -266.9% | -$40.5M -903.7% | -$119.0M -601.1% | -$5.1M -31.4% | -$8.1M -33.2% |
| Per Share | |||||||
| EPS (Basic) | $-2.22 | $-0.43 | $-6.52 | $-6.22 | $-73.85 | — | — |
| EPS (Diluted) | $-2.22 | $-0.43 | $-6.52 | $-6.22 | — | — | — |
| Weighted Avg Shares (Basic) | 21.4M | 9.2M | 9.0M | 6.5M | 1.4M | — | — |
| Weighted Avg Shares (Diluted) | 21.4M | 9.2M | 9.0M | 6.5M | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-09-17
No standout strengths flagged.
Where each multiple sits in its own 6-yr range · 50th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 6-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Cost of Revenue | 82.3 | 74.4 | 57.1 | 83.3 | 66.0 | 2840.6 | 72.1 |
| Gross Profit | 17.7 | 25.6 | 42.9 | 16.7 | 34.0 | 1851.8 | 27.9 |
| SG&A | 24.2 | 39.0 | 118.6 | 174.9 | 43.1 | 2408.3 | 335.7 |
| Operating Income | -28.6 | -13.5 | -75.7 | -158.2 | -13.0 | -914.9 | -338.9 |
| Income Tax | 1.8 | 0.1 | 2.7 | — | 0.4 | 33.5 | 9.7 |
| Net Income | -33.2 | -31.4 | -601.1 | -903.7 | -266.9 | -881.3 | -1060.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AEI: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 240 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELL | $161.8B | 167.1× | — | 14.9× | 35.6% | 40.1% | 8.9% | 2.3% | 1.6% | — | 1,425 |
| XHG | $130.2B | — | — | 2536.8× | 24.9% | 2.2% | -205% | 85.0% | 88.3% | — | 1 |
| PLD | $125.6B | 38.0× | — | 14.3× | 7.2% | — | 37.9% | 6.3% | 3.8% | — | 1,592 |
| EQIX | $100.8B | 74.6× | 25.7× | 10.9× | 5.4% | 51.1% | 14.6% | 9.5% | 8.7% | 0.3× | 1,229 |
| AMT | $81.9B | 32.5× | 14.1× | 7.7× | 5.1% | — | 24.7% | 72.0% | 37.3% | 0.6× | 1,662 |
| SPG | $66.7B | 14.4× | — | 10.5× | 6.7% | — | 84.3% | 103% | 15.9% | — | 1,242 |
| O | $53.5B | 49.0× | — | 9.3× | 9.1% | — | 18.4% | 2.7% | 2.7% | — | 1,389 |
| PSA | $52.8B | 33.4× | — | 10.9× | 2.7% | — | 37.0% | 19.3% | 9.1% | — | 1,045 |
| VTR | $41.7B | 162.4× | — | 7.1× | 18.5% | — | 4.5% | 2.1% | 1.0% | — | 891 |
| CBRE | $41.2B | 36.2× | — | 1.0× | 13.4% | 18.7% | 2.9% | 13.0% | 7.1% | — | 1,020 |
| IRM | $33.7B | 232.7× | 22.9× | 4.9× | 12.2% | — | 2.2% | -15.5% | 1.0% | 7.5× | 1,043 |
| EXR | $29.4B | 30.3× | 13.7× | 8.7× | 3.7% | 72.8% | 28.8% | 7.3% | 7.3% | — | 722 |
| AVB | $26.6B | 25.6× | 12.2× | 8.7× | 4.4% | — | 34.7% | 9.1% | 5.0% | 3.2× | 715 |
| VICI | $25.8B | 9.2× | — | 6.4× | 4.1% | 99.3% | 69.3% | 10.0% | 6.2% | — | 898 |
| EQR | $25.6B | 23.0× | — | — | — | — | — | 10.1% | 5.8% | — | 681 |
| SBAC | $19.1B | 18.5× | 21.6× | 6.8× | 5.1% | 75.5% | 37.4% | -21.7% | 13.1% | 8.7× | 636 |
| BEKE | $17.6B | 133.3× | 37.9× | 1.3× | 5.6% | 21.4% | 3.2% | 4.5% | 4.5% | — | 197 |
| ESS | $17.5B | 26.0× | 11.5× | 9.3× | 6.4% | 69.9% | 37.2% | 12.7% | 12.7% | — | 582 |
| INVH | $16.6B | 28.3× | — | 6.1× | 4.2% | — | 21.5% | 6.2% | 3.3% | — | 560 |
| JLL | $15.8B | 20.5× | 11.8× | 0.6× | 11.4% | — | 3.0% | 10.6% | 10.4% | 0.1× | 615 |
| WY | $15.6B | 48.1× | 16.7× | 2.3× | -3.1% | 14.8% | 4.7% | 3.4% | 2.2% | 4.5× | 868 |
| KIM | $15.2B | — | 16.3× | 7.1× | 5.1% | — | 27.3% | 5.6% | 3.2% | 5.5× | 633 |
| NLY | $15.1B | 7.3× | — | — | — | — | — | 12.6% | 12.6% | — | 743 |
| HST | $15.1B | 19.9× | — | 2.5× | 7.6% | — | 12.5% | 11.7% | 9.8% | — | 656 |
| LAMR | $14.9B | 25.4× | — | 6.6× | 2.7% | 67.0% | 25.9% | 57.3% | 13.2% | — | 655 |
| AEI | $38M | — | — | 8.4× | 894% | 27.9% | -1061% | -39.2% | -39.2% | — | 18 |
Peers = companies sharing AEI's sector (Real Estate) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.