Ares Commercial Real Estate (NYSE:ACRE – Get Appraisal) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released Tuesday, Zacks.com reports. The brokerage currently has a price target of $18.00 on shares of the real estate investment trust. Zacks Investment Research’s target price suggests a potential upside of 17.80% from the current stock price.
According to Zacks, “Ares Commercial Real Estate Corporation is a specialty finance company focused on originating, investing and servicing middle-market commercial real estate loans and other commercial real estate investments. The Company’s financing solutions include its target investments, which include the following: transitional first mortgages, expandable first mortgages, subordinated debt mortgages and other CRE debt securities and investments in preferred shares. Ares Commercial Real Estate Corporation is based in Chicago, Illinois. “
Other analysts have also recently published research reports on the stock. StockNews.com took over Ares Commercial Real Estate stock coverage in a Thursday, March 31 report. They set a “holding” rating for the company. JMP Securities raised its price target on Ares Commercial Real Estate shares from $16.00 to $16.50 and gave the company a ‘market outperformance’ rating in a Thursday, March 31 research note. . Finally, JPMorgan Chase & Co. raised its price target on shares of Ares Commercial Real Estate from $14.50 to $16.00 and gave the company a “neutral” rating in a research note on Monday. Two equity research analysts have rated the stock with a hold rating and four have assigned the stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $16.70.
NYSE ACRE traded down $0.46 during Tuesday’s trading, hitting $15.28. The company’s shares had a trading volume of 646,672 shares, compared to its average volume of 521,552. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt ratio of 2.76. The company has a market capitalization of $722.26 million, a price-earnings ratio of 10.54 and a beta of 1.26. Ares Commercial Real Estate has a 12 month minimum of $13.48 and a 12 month maximum of $16.98. The company has a 50-day moving average price of $15.20 and a 200-day moving average price of $15.08.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last released its quarterly results on Monday, February 14. The real estate investment trust reported earnings per share of $0.41 for the quarter, beating the Zacks consensus estimate of $0.37 by $0.04. Ares Commercial Real Estate achieved a net margin of 59.23% and a return on equity of 9.83%. In the same quarter a year earlier, the company posted earnings per share of $0.40. On average, stock analysts expect Ares Commercial Real Estate to post an EPS of 1.42 for the current fiscal year.
In other Ares Commercial Real Estate news, Director William Stephen Benjamin acquired 18,000 shares of the company in a transaction on Wednesday, February 23. The shares were purchased at an average cost of $14.05 per share, with a total value of $252,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.96% of the shares are currently held by insiders of the company.
Several institutional investors have recently increased or reduced their stake in ACRE. Morgan Stanley increased its stake in Ares Commercial Real Estate shares by 185.6% in the second quarter. Morgan Stanley now owns 415,058 shares of the real estate investment trust worth $6,098,000 after buying an additional 269,735 shares last quarter. SG Americas Securities LLC increased its stake in Ares Commercial Real Estate shares by 84.3% in the third quarter. SG Americas Securities LLC now owns 78,418 shares of the real estate investment trust valued at $1,183,000 after buying 35,871 additional shares last quarter. Raymond James & Associates increased its position in Ares Commercial Real Estate shares by 21.9% during the third quarter. Raymond James & Associates now owns 34,552 shares of the real estate investment trust worth $521,000 after buying an additional 6,211 shares last quarter. Van ECK Associates Corp raised its position in Ares Commercial Real Estate shares by 13.1% during the third quarter. Van ECK Associates Corp now owns 396,771 shares of the real estate investment trust worth $5,983,000 after buying an additional 45,985 shares in the last quarter. Finally, Monarch Partners Asset Management LLC increased its position in Ares Commercial Real Estate shares by 10.5% during the third quarter. Monarch Partners Asset Management LLC now owns 176,551 shares of the real estate investment trust worth $2,662,000 after purchasing an additional 16,761 shares last quarter. 52.19% of the shares are currently held by hedge funds and other institutional investors.
Ares Commercial Real Estate Company Profile (Get an assessment)
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. The company offers a range of financing solutions for owners, operators and sponsors of CRE properties. It issues first mortgage loans, subordinated debt products, mezzanine loans, preferred equity investments in real estate and other CRE investments, including commercial mortgage-backed securities.
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