Ares Commercial Real Estate (NYSE:ACRE) Rating Increased to Hold at Zacks Investment Research
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.
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. “
ACRE has been the topic of a number of other reports. StockNews.com started coverage on Ares Commercial Real Estate in a research note on Thursday, March 31st. They set a “hold” rating on the stock. JMP Securities upped their price target on Ares Commercial Real Estate from $16.00 to $16.50 and gave the stock a “market outperform” rating in a research note on Thursday, March 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $15.80.
ACRE traded up $0.09 during trading hours on Tuesday, reaching $15.85. The company’s stock had a trading volume of 9,815 shares, compared to its average volume of 468,540. Ares Commercial Real Estate has a fifty-two week low of $13.48 and a fifty-two week high of $16.98. The stock has a market cap of $749.23 million, a PE ratio of 10.93 and a beta of 1.26. The business’s 50-day moving average is $14.85 and its 200-day moving average is $15.02. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.01 and a quick ratio of 1.01.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last released its quarterly earnings data on Monday, February 14th. The real estate investment trust reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Ares Commercial Real Estate had a return on equity of 9.83% and a net margin of 59.23%. During the same period in the previous year, the firm earned $0.40 EPS. Analysts expect that Ares Commercial Real Estate will post 1.42 EPS for the current year.
In other Ares Commercial Real Estate news, Director William Stephen Benjamin bought 18,000 shares of the firm’s stock in a transaction dated Wednesday, February 23rd. The stock was acquired at an average price of $14.05 per share, for a total transaction of $252,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bryan Patrick Donohoe sold 8,813 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Spire Wealth Management acquired a new stake in Ares Commercial Real Estate in the fourth quarter valued at about $688,000. Capital Analysts LLC acquired a new stake in Ares Commercial Real Estate in the third quarter valued at about $48,000. Voya Investment Management LLC lifted its position in Ares Commercial Real Estate by 7.1% in the third quarter. Voya Investment Management LLC now owns 14,494 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 961 shares during the period. Parametric Portfolio Associates LLC lifted its position in Ares Commercial Real Estate by 7.2% in the second quarter. Parametric Portfolio Associates LLC now owns 57,568 shares of the real estate investment trust’s stock valued at $846,000 after purchasing an additional 3,882 shares during the period. Finally, Barclays PLC lifted its position in Ares Commercial Real Estate by 274.8% in the third quarter. Barclays PLC now owns 17,887 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 13,115 shares during the period. Institutional investors and hedge funds own 52.19% of the company’s stock.
About Ares Commercial Real Estate (Get Rating)
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities.
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