Ares Commercial Real Estate (ACRE) to Release Earnings on Tuesday
Ares Commercial Real Estate (NYSE:ACRE) is scheduled to post its quarterly earnings results before the market opens on Tuesday, February 15th. Analysts expect Ares Commercial Real Estate to post earnings of $0.37 per share for the quarter. Individuals that wish to register for the company’s earnings conference call can do so using this link.
ACRE opened at $14.24 on Tuesday. Ares Commercial Real Estate has a 12 month low of $12.22 and a 12 month high of $16.98. The stock has a market capitalization of $669.31 million, a price-to-earnings ratio of 9.37 and a beta of 1.25. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.33 and a quick ratio of 0.33. The business has a fifty day moving average price of $14.64 and a 200 day moving average price of $15.14.
In other Ares Commercial Real Estate news, CEO Bryan Patrick Donohoe sold 8,813 shares of Ares Commercial Real Estate stock in a transaction dated Tuesday, January 18th. The stock was sold at an average price of $14.96, for a total transaction of $131,842.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.96% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. American International Group Inc. lifted its holdings in shares of Ares Commercial Real Estate by 13.4% in the 3rd quarter. American International Group Inc. now owns 23,955 shares of the real estate investment trust’s stock valued at $361,000 after purchasing an additional 2,822 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ares Commercial Real Estate by 12.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 177,349 shares of the real estate investment trust’s stock valued at $2,675,000 after purchasing an additional 19,518 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Ares Commercial Real Estate by 107.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 12,816 shares of the real estate investment trust’s stock valued at $193,000 after purchasing an additional 6,628 shares during the last quarter. UBS Group AG lifted its holdings in shares of Ares Commercial Real Estate by 10.7% in the 3rd quarter. UBS Group AG now owns 70,500 shares of the real estate investment trust’s stock valued at $1,063,000 after purchasing an additional 6,823 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Ares Commercial Real Estate by 9.2% in the 3rd quarter. Royal Bank of Canada now owns 76,125 shares of the real estate investment trust’s stock valued at $1,147,000 after purchasing an additional 6,384 shares during the last quarter. 51.79% of the stock is owned by institutional investors and hedge funds.
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Several research analysts recently commented on the company. Zacks Investment Research cut Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a research note on Tuesday, January 4th. JMP Securities boosted their target price on Ares Commercial Real Estate from $16.50 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 4th. Finally, BTIG Research reissued a “buy” rating and set a $16.50 target price on shares of Ares Commercial Real Estate in a research note on Friday, November 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $15.92.
About Ares Commercial Real Estate
Ares Commercial Real Estate Corp. engages in originating and investing in commercial real estate loans and related investments. The Company’s investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other commercial real estate investments, including commercial mortgage backed securities, which are secured, directly or indirectly, by office, multifamily, retail, industrial, lodging, senior living, self storage, student housing and other commercial real estate properties, or by ownership interests.
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