Ares Commercial Real Estate (NYSE:ACRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $14.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.29% from the company’s current price.
According to Zacks, “Ares Commercial Real Estate Corporation is a specialty finance company focused on originating, investing in and managing middle-market commercial real estate loans and other commercial real estate investments. The Company’s financing solutions are comprised of its target investments, which include the following: Transitional senior mortgage loans, Stretch senior mortgage loans, Subordinate debt mortgage loans and Other CRE debt and preferred equity investments. Ares Commercial Real Estate Corporation is based in Chicago, Illinois. “
Separately, B. Riley reiterated a “buy” rating and issued a $14.00 price target on shares of Ares Commercial Real Estate in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.13.
Shares of Ares Commercial Real Estate (NYSE ACRE) traded down $0.12 during midday trading on Tuesday, reaching $12.58. 50,177 shares of the company were exchanged, compared to its average volume of 130,810. The firm has a market capitalization of $361.78, a PE ratio of 11.65 and a beta of 0.62. Ares Commercial Real Estate has a 52-week low of $11.96 and a 52-week high of $14.22.
Ares Commercial Real Estate (NYSE:ACRE) last released its quarterly earnings results on Thursday, March 1st. The real estate investment trust reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company had revenue of $25.22 million during the quarter, compared to analysts’ expectations of $11.35 million. Ares Commercial Real Estate had a net margin of 31.17% and a return on equity of 7.54%. During the same quarter in the prior year, the company earned $0.28 earnings per share. equities research analysts predict that Ares Commercial Real Estate will post 1.24 earnings per share for the current fiscal year.
In other Ares Commercial Real Estate news, Director William Stephen Benjamin acquired 12,715 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were acquired at an average price of $12.32 per share, with a total value of $156,648.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.75% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Ares Commercial Real Estate during the third quarter worth $103,000. Atria Investments LLC bought a new stake in Ares Commercial Real Estate during the fourth quarter worth $132,000. Cubist Systematic Strategies LLC bought a new stake in Ares Commercial Real Estate during the third quarter worth $140,000. MetLife Investment Advisors LLC bought a new stake in Ares Commercial Real Estate during the fourth quarter worth $148,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Ares Commercial Real Estate during the fourth quarter worth $178,000. 63.99% of the stock is currently owned by institutional investors and hedge funds.
Ares Commercial Real Estate Company Profile
Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily engaged in originating and investing in commercial real estate (CRE) loans and related investments. The Company operates through principal lending segment. Its target investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investment opportunities, including commercial mortgage-backed securities.
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