Ares Commercial Real Estate (NYSE:ACRE) Price Target Cut to $14.50 by Analysts at Credit Suisse Group

Ares Commercial Real Estate (NYSE:ACRE – Get Rating) had its target price cut by equities research analysts at Credit Suisse Group to $14.50 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. Credit Suisse Group’s target price would indicate a potential upside of 11.97% from the company’s current price.

A number of other research firms have also recently issued reports on ACRE. JPMorgan Chase & Co. boosted their price objective on shares of Ares Commercial Real Estate from $14.50 to $16.00 and gave the company a “neutral” rating in a research report on Monday, April 25th. StockNews.com initiated coverage on shares of Ares Commercial Real Estate in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, JMP Securities reiterated a “buy” rating and set a $16.50 price target on shares of Ares Commercial Real Estate in a research report on Tuesday, May 24th.

Ares Commercial Real Estate Trading Down 0.3%

NYSE:ACRE traded down $0.04 during trading hours on Friday, reaching $12.95. The company’s stock had a trading volume of 625,895 shares, compared to its average volume of 672,292. The firm has a market capitalization of $614.32 million, a price-to-earnings ratio of 9.66 and a beta of 1.23. The firm has a 50-day simple moving average of $13.29 and a 200-day simple moving average of $14.39. Ares Commercial Real Estate has a 1 year low of $11.18 and a 1 year high of $16.48. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.61 and a current ratio of 0.61.

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Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last issued its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Ares Commercial Real Estate had a return on equity of 9.74% and a net margin of 58.09%. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Research analysts expect that Ares Commercial Real Estate will post 1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACRE. Qube Research & Technologies Ltd bought a new position in Ares Commercial Real Estate during the fourth quarter valued at approximately $1,001,000. Concorde Asset Management LLC lifted its position in Ares Commercial Real Estate by 1.1% during the fourth quarter. Concorde Asset Management LLC now owns 87,478 shares of the real estate investment trust’s stock valued at $1,272,000 after purchasing an additional 930 shares during the period. Roosevelt Investment Group LLC purchased a new stake in Ares Commercial Real Estate during the fourth quarter valued at approximately $291,000. Monarch Partners Asset Management LLC increased its holdings in Ares Commercial Real Estate by 9.1% during the fourth quarter. Monarch Partners Asset Management LLC now owns 192,568 shares of the real estate investment trust’s stock valued at $2,800,000 after buying an additional 16,017 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in Ares Commercial Real Estate by 46.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 34,640 shares of the real estate investment trust’s stock valued at $505,000 after buying an additional 11,049 shares during the last quarter. Institutional investors own 46.66% of the company’s stock.

About Ares Commercial Real Estate

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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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