Ares Commercial Real Estate (NYSE:ACRE) Price Target Raised to $16.00
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $14.50 to $16.00 in a report released on Monday, The Fly reports. JPMorgan Chase & Co.’s price objective points to a potential upside of 1.65% from the company’s previous close.
Several other brokerages have also recently weighed in on ACRE. StockNews.com initiated coverage on shares of Ares Commercial Real Estate in a research report on Thursday, March 31st. They set a “hold” rating for the company. JMP Securities increased their price target on shares of Ares Commercial Real Estate from $16.00 to $16.50 and gave the company a “market outperform” rating in a research report on Thursday, March 31st. Finally, Zacks Investment Research raised shares of Ares Commercial Real Estate from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $16.30.
ACRE stock opened at $15.74 on Monday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.01 and a current ratio of 1.01. Ares Commercial Real Estate has a 52 week low of $13.48 and a 52 week high of $16.98. The firm’s fifty day moving average is $15.18 and its 200 day moving average is $15.07. The firm has a market cap of $744.00 million, a P/E ratio of 10.86 and a beta of 1.26.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last released its earnings results on Monday, February 14th. The real estate investment trust reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.04. Ares Commercial Real Estate had a net margin of 59.23% and a return on equity of 9.83%. During the same quarter last year, the company posted $0.40 EPS. As a group, analysts forecast 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 acquired 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 23rd. The shares were bought at an average price of $14.05 per share, with a total value of $252,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.96% of the company’s stock.
Large investors have recently modified their holdings of the business. Truist Financial Corp lifted its holdings in shares of Ares Commercial Real Estate by 261.7% in the first quarter. Truist Financial Corp now owns 36,170 shares of the real estate investment trust’s stock worth $561,000 after buying an additional 26,170 shares in the last quarter. Concorde Asset Management LLC lifted its holdings in shares of Ares Commercial Real Estate by 55.2% in the first quarter. Concorde Asset Management LLC now owns 135,798 shares of the real estate investment trust’s stock worth $2,108,000 after buying an additional 48,320 shares in the last quarter. Selective Wealth Management Inc. purchased a new position in shares of Ares Commercial Real Estate in the 1st quarter worth $53,000. Albert D Mason Inc. purchased a new position in shares of Ares Commercial Real Estate in the 1st quarter worth $967,000. Finally, Barclays PLC grew its stake in shares of Ares Commercial Real Estate by 197.0% in the 4th quarter. Barclays PLC now owns 53,124 shares of the real estate investment trust’s stock worth $773,000 after buying an additional 35,237 shares in the last quarter. 52.19% of the stock is currently owned by institutional investors and hedge funds.
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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