Ares Commercial Real Estate (NYSE:ACRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently 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 9.80% from the company’s previous close.
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 set a $14.00 price objective on shares of Ares Commercial Real Estate in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.13.
Ares Commercial Real Estate (NYSE ACRE) traded up $0.17 during trading hours on Wednesday, hitting $12.75. The company had a trading volume of 98,879 shares, compared to its average volume of 132,836. Ares Commercial Real Estate has a 12 month low of $11.96 and a 12 month high of $14.22. The company has a market cap of $364.06, a price-to-earnings ratio of 11.80 and a beta of 0.62.
Ares Commercial Real Estate (NYSE:ACRE) last released its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Ares Commercial Real Estate had a return on equity of 7.54% and a net margin of 31.17%. The company had revenue of $25.22 million for the quarter, compared to analyst estimates of $11.35 million. During the same period in the previous year, the company posted $0.28 EPS. equities analysts forecast that Ares Commercial Real Estate will post 1.24 EPS for the current fiscal year.
In other Ares Commercial Real Estate news, Director William Stephen Benjamin bought 12,715 shares of Ares Commercial Real Estate stock in a transaction that occurred on Wednesday, March 7th. The stock was acquired at an average cost of $12.32 per share, for a total transaction of $156,648.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.75% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of ACRE. Nationwide Fund Advisors grew its position in Ares Commercial Real Estate by 5.3% during the second quarter. Nationwide Fund Advisors now owns 16,686 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 839 shares in the last quarter. Northern Trust Corp grew its position in Ares Commercial Real Estate by 4.5% during the second quarter. Northern Trust Corp now owns 305,097 shares of the real estate investment trust’s stock worth $3,994,000 after buying an additional 12,999 shares in the last quarter. Vanguard Group Inc. grew its position in Ares Commercial Real Estate by 4.2% during the second quarter. Vanguard Group Inc. now owns 1,238,404 shares of the real estate investment trust’s stock worth $16,211,000 after buying an additional 49,469 shares in the last quarter. California Public Employees Retirement System grew its position in Ares Commercial Real Estate by 39.7% during the second quarter. California Public Employees Retirement System now owns 67,900 shares of the real estate investment trust’s stock worth $889,000 after buying an additional 19,300 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in Ares Commercial Real Estate by 14.9% during the second quarter. Parametric Portfolio Associates LLC now owns 86,671 shares of the real estate investment trust’s stock worth $1,135,000 after buying an additional 11,239 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.
About Ares Commercial Real Estate
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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