Ares Commercial Real Estate (ACRE) Lifted to “Buy” at Zacks Investment Research

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 Friday. The firm currently has a $14.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 8.28% from the stock’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. “

Other equities research analysts also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and set a $14.00 price objective on shares of Ares Commercial Real Estate in a report on Tuesday. ValuEngine upgraded Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Finally, BidaskClub upgraded Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Ares Commercial Real Estate presently has a consensus rating of “Hold” and a consensus target price of $14.13.

Ares Commercial Real Estate (NYSE:ACRE) traded up $0.21 during midday trading on Friday, reaching $12.93. 157,600 shares of the company’s stock traded hands, compared to its average volume of 144,975. The stock has a market capitalization of $370.53, a P/E ratio of 11.44, a PEG ratio of 1.49 and a beta of 0.69. Ares Commercial Real Estate has a 1-year low of $12.48 and a 1-year high of $14.22.

Ares Commercial Real Estate (NYSE:ACRE) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.11. The business had revenue of $28.55 million for the quarter, compared to the consensus estimate of $11.71 million. Ares Commercial Real Estate had a net margin of 33.69% and a return on equity of 7.76%. During the same period in the prior year, the firm earned $0.31 earnings per share. analysts anticipate that Ares Commercial Real Estate will post 1.11 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Ares Commercial Real Estate during the third quarter valued at about $103,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ares Commercial Real Estate during the third quarter valued at about $140,000. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Ares Commercial Real Estate during the third quarter valued at about $185,000. Citadel Advisors LLC increased its position in shares of Ares Commercial Real Estate by 32.1% during the second quarter. Citadel Advisors LLC now owns 16,324 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 3,966 shares during the period. Finally, Nationwide Fund Advisors increased its position in shares of 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 valued at $218,000 after buying an additional 839 shares during the period. Hedge funds and other institutional investors own 63.19% of the company’s stock.

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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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