Ares Commercial Real Estate’s (ACRE) “Buy” Rating Reaffirmed at JMP Securities
Ares Commercial Real Estate (NYSE:ACRE – Get Rating)‘s stock had its “buy” rating reaffirmed by stock analysts at JMP Securities in a research report issued to clients and investors on Tuesday, TipRanks reports. They currently have a $16.50 price target on the real estate investment trust’s stock. JMP Securities’ price objective points to a potential upside of 14.11% from the stock’s previous close.
ACRE has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on Ares Commercial Real Estate from $14.50 to $16.00 and gave the company a “neutral” rating in a research note on Monday, April 25th. StockNews.com began coverage on Ares Commercial Real Estate in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research lowered Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Ares Commercial Real Estate has a consensus rating of “Hold” and a consensus target price of $16.75.
ACRE stock traded down $0.01 on Tuesday, reaching $14.46. The company’s stock had a trading volume of 11,415 shares, compared to its average volume of 627,981. The firm has a fifty day moving average of $15.35 and a two hundred day moving average of $14.98. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $685.95 million, a P/E ratio of 10.75 and a beta of 1.20. Ares Commercial Real Estate has a 52 week low of $13.48 and a 52 week high of $16.98.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Ares Commercial Real Estate had a net margin of 58.09% and a return on equity of 9.74%. During the same period in the prior year, the business earned $0.38 EPS. As a group, equities analysts expect that Ares Commercial Real Estate will post 1.38 EPS for the current fiscal year.
In other Ares Commercial Real Estate news, Director William Stephen Benjamin bought 18,000 shares of Ares Commercial Real Estate stock in a transaction dated Wednesday, February 23rd. The stock was bought at an average price of $14.05 per share, for a total transaction of $252,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.95% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Ares Commercial Real Estate by 0.4% in the fourth quarter. BlackRock Inc. now owns 4,475,293 shares of the real estate investment trust’s stock worth $65,071,000 after acquiring an additional 19,211 shares during the last quarter. Delphi Financial Group Inc. increased its stake in shares of Ares Commercial Real Estate by 1.7% in the fourth quarter. Delphi Financial Group Inc. now owns 1,622,331 shares of the real estate investment trust’s stock worth $23,589,000 after acquiring an additional 26,966 shares during the last quarter. 1832 Asset Management LP increased its stake in shares of Ares Commercial Real Estate by 0.4% in the fourth quarter. 1832 Asset Management LP now owns 1,584,857 shares of the real estate investment trust’s stock worth $23,189,000 after acquiring an additional 6,711 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ares Commercial Real Estate by 31.7% in the first quarter. JPMorgan Chase & Co. now owns 1,284,084 shares of the real estate investment trust’s stock worth $19,929,000 after acquiring an additional 308,771 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Ares Commercial Real Estate by 22.2% in the first quarter. State Street Corp now owns 1,121,158 shares of the real estate investment trust’s stock worth $17,772,000 after acquiring an additional 204,054 shares during the last quarter. Institutional investors own 46.66% 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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