Ares Commercial Real Estate Co. (NYSE:ACRE) Given Consensus Recommendation of “Buy” by Brokerages
Ares Commercial Real Estate Co. (NYSE: ACRE) has an average buy recommendation from eight rating companies that currently cover the company, Marketbeat reports. Two analysts rated the stock with a hold recommendation and five gave the company a buy recommendation. The average 1 year target price among brokers who released a report on the stock last year is $ 11.75.
ACRE has been the subject of several recent research reports. Raymond James reiterated his buy recommendation and set a price target of USD 11.00 on shares of Ares Commercial Real Estate in a research report on Friday, December 4th. TheStreet upgraded Ares Commercial Real Estate’s shares from a “d +” rating to a “c” rating in a research report on Wednesday November 18th. Zacks Investment Research downgraded Ares Commercial Real Estate shares from a “Buy” rating to a “Hold” rating in a research report on Tuesday December 29th. Finally, BTIG Research kicked off coverage of shares of Ares Commercial Real Estate in a research report on Tuesday February 2nd. They set a buy recommendation and a price target of $ 13.50 for the stock.
Hedge funds recently changed their positions in the stock. Weld Capital Management LLC purchased a new position in Ares Commercial Real Estate for approximately $ 173,000 in the 3rd quarter. Mackay Shields LLC increased its stake in Ares Commercial Real Estate by 28.7% in the third quarter. Mackay Shields LLC now owns 145,900 shares in the real estate investment trust valued at $ 1,333,000 after purchasing an additional 32,500 shares last quarter. CM Bidwell & Associates Ltd. bought a new position in Ares Commercial Real Estate for approximately $ 27,000 in the 3rd quarter. LSV Asset Management increased its stake in Ares Commercial Real Estate by 3.2% in the third quarter. LSV Asset Management now owns 323,484 shares in the real estate investment trust valued at $ 2,956,000 after purchasing an additional 9,900 shares last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Ares Commercial Real Estate by 12.1% in the third quarter. Nisa Investment Advisors LLC now owns 40,211 shares of the real estate investment trust valued at $ 368,000 after acquiring an additional 4,351 shares in the most recent quarter. 55.82% of the shares are owned by hedge funds and other institutional investors.
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NYSE ACRE opened at $ 13.11 on Tuesday. The company has a leverage ratio of 2.98, a current of 1.41, and a fast of 1.41. The company has a market cap of $ 438.42 million, value for money of 25.21, and a beta of 1.33. The company’s fifty day moving average is $ 11.99 and the two hundred day moving average is $ 10.66. Ares Commercial Real Estate has a 52-week low of $ 2.78 and a 52-week high of $ 17.72.
Ares Commercial Real Estate company profile
Ares Commercial Real Estate Corporation, a specialty finance firm, has taken out and invests in commercial real estate (CRE) loans and related investments in the United States. It offers a range of financing solutions for CRE property owners, operators and sponsors. The company makes senior mortgage loans, subordinated debt, preferred real estate investments, mezzanine loans and other CRE investments, including commercial mortgage-backed securities.
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