Ares Commercial Real Estate (NYSE:ACRE) Lowered to “Hold” at Zacks Investment Research
Ares Commercial Real Estate (NYSE: ACRE) was downgraded from a “buy” rating to a “hold” rating by Zacks Investment Research on a rating issued to investors Thursday, Zacks.com reports.
According to Zacks, “Ares Commercial Real Estate Corporation is a specialty finance company focused on the acquisition, investment, and management of commercial real estate loans and other mid-market commercial real estate investments. The company’s financing solutions include its target investments, including: senior transitional mortgage, senior Stretch mortgage loans, subordinated mortgage loans, and other commercial bonds and preferential holdings. Ares Commercial Real Estate Corporation is based in Chicago, Illinois. “
A number of other analysts have also recently commented on the company. BTIG Research confirmed a “Buy” rating in a research report on Friday, November 12th, and issued a price target of $ 16.50 on the shares of Ares Commercial Real Estate. JMP Securities raised its price target for Ares Commercial Real Estate from US $ 16.50 to US $ 17.00 and rated the stock “outperformed” in a research report on Thursday, November 4th. Two research analysts have given the company a hold rating and four have given it a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $ 15.92.
NYSE ACRE shares fell $ 0.12 during Thursday’s midday trading to hit $ 15.00. 10,370 shares of the stock were traded in hands compared to an average volume of 473,984. The company has a debt of 2.55, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a fifty-day moving average price of $ 15.49 and a 200-day moving average of $ 15.38. Ares Commercial Real Estate has a 52-week low of $ 11.16 and a 52-week high of $ 16.98. The company has a market capitalization of $ 705.03 million, a price / earnings ratio of 9.87, and a beta of 1.31.
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Ares Commercial Real Estate (NYSE: ACRE) last released its earnings results on Wednesday, November 3rd. The Real Estate Investment Trust reported $ 0.37 EPS for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.34 by $ 0.03. Ares Commercial Real Estate had a return on equity of 9.74% and a net margin of 61.95%. During the same period last year, the company earned $ 0.30 EPS. As a group, sell-side analysts predict that Ares Commercial Real Estate will post 1.47 EPS for the current fiscal year.
Large investors recently changed their positions in the company. BlackRock Inc. increased its position in Ares Commercial Real Estate stocks by 10.8% in the third quarter. BlackRock Inc. now owns 4,456,082 shares in the real estate investment trust valued at $ 67,197,000 after purchasing an additional 435,702 shares last quarter. Vanguard Group Inc. increased its position in Ares Commercial Real Estate stocks by 19.6% in the second quarter. Vanguard Group Inc. now owns 2,191,421 shares in the real estate investment trust valued at $ 32,193,000 after purchasing an additional 359,793 shares last quarter. Delphi Financial Group Inc. increased its position in shares of Ares Commercial Real Estate by 2.2% in the third quarter. Delphi Financial Group Inc. now owns 1,595,365 shares of the real estate investment trust valued at $ 24,058,000 after purchasing an additional 34,087 shares last quarter. 1832 Asset Management LP increased its position in Ares Commercial Real Estate stocks by 103.7% in the second quarter. 1832 Asset Management LP now owns 1,578,146 shares in the real estate investment trust valued at $ 23,050,000 after purchasing an additional 803,484 shares last quarter. Finally, Invesco Ltd. its position in Ares Commercial Real Estate increased 16.8% in the 2nd quarter. Invesco Ltd. now owns 1,137,645 shares in the real estate investment trust valued at $ 16,713,000, after acquiring an additional 163,272 shares during the period. Institutional investors and hedge funds own 56.03% of the company’s stock.
About Ares Commercial Real Estate
Ares Commercial Real Estate Corp. deals with the acquisition and investment in commercial real estate loans and related investments. The company’s investments include senior mortgage loans, subordinated debt, preferred stock, mezzanine loans, and other commercial real estate investments, including commercial mortgage loans, obtained directly or indirectly through office, multi-family, retail, industrial, lodging, senior living, self Storage, student dormitories and other commercial real estate or by ownership.
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