Ares Commercial Real Estate (NYSE:ACRE) Stock Rating Upgraded by Zacks Investment Research
Ares Commercial Real Estate (NYSE: ACRE) was upgraded from a “hold” rating to a “buy” rating by Zacks Investment Research in a notice issued to investors on Friday, Zacks.com reports. The brokerage firm currently has a price target of $ 17.00 on the stock of the Real Estate Investment Trust. Zacks Investment Research’s price target indicates a potential upside of 15.72% from the company’s previous closing price.
According to Zacks, “Ares Commercial Real Estate Corporation is a specialty finance company focused on the acquisition, investment, and management of commercial real estate loans and other mid-market commercial real estate investments. The company’s financing solutions include its target investments, including: senior transitional mortgage, senior Stretch mortgage loans, subordinated mortgage loans, and other commercial bonds and preferred holdings. Ares Commercial Real Estate Corporation is based in Chicago, Illinois. “
ACRE has been the subject of a number of other reports. JMP Securities raised its target price on Ares Commercial Real Estate from US $ 16.50 to US $ 17.00 and rated the company as “exceeding the market” in a research report on Thursday, November 4th. BTIG Research re-issued a “Buy” rating in a report on Friday, November 12th, with a target price of $ 16.50 on the shares of Ares Commercial Real Estate. One analyst has rated the stock with a hold rating and five with a buy rating. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $ 16.08.
(Display)
Regardless of your futures trading skills, our guide to technical analysis has something to help you succeed in today’s futures markets.
ACRE traded around $ 0.31 during Friday midday trading to hit $ 14.69. 13,503 shares of the company were exchanged, compared to an average volume of 473,302. The company has a market cap of $ 690.46 million, a P / E of 9.66, and a beta of 1.31. Ares Commercial Real Estate has a 1-year low of $ 11.16 and a 1-year high of $ 16.98. The company’s 50-day moving average price is $ 15.49 and the 200-day moving average price is $ 15.37. The company has a quick ratio of 0.33, a current ratio of 0.33, and debt of 2.55.
Ares Commercial Real Estate (NYSE: ACRE) last announced its quarterly earnings data on Wednesday, November 3rd. The Real Estate Investment Trust reported earnings per share (EPS) for the quarter of $ 0.37, beating analysts’ consensus estimates of $ 0.34 by $ 0.03. Ares Commercial Real Estate had a return on equity of 9.74% and a net margin of 61.95%. In the same period last year, the company achieved $ 0.30 EPS. On average, sell-side analysts are forecasting earnings per share of 1.47 for Ares Commercial Real Estate for the current financial year.
Several major investors recently bought and sold shares in ACRE. Morgan Stanley increased its position in shares of Ares Commercial Real Estate by 117.5% in the first quarter. Morgan Stanley now owns 145,323 shares in the real estate investment trust valued at $ 1,993,000 after purchasing an additional 78,495 shares last quarter. Arkadios Wealth Advisors increased its position in shares of Ares Commercial Real Estate by 399.7% in the second quarter. Arkadios Wealth Advisors now owns 26,375 shares in the real estate investment trust, valued at $ 387,000, after acquiring an additional 21,097 shares last quarter. Advisors Asset Management Inc. increased its position in Ares Commercial Real Estate stocks by 3.0% in the second quarter. Advisors Asset Management Inc. now owns 163,090 shares of the real estate investment trust valued at $ 2,396,000 after purchasing an additional 4,725 shares last quarter. Whittier Trust Co. increased its position in Ares Commercial Real Estate stocks 52.9% in the second quarter. Whittier Trust Co. now owns 63,155 shares of the real estate investment trust valued at $ 928,000 after acquiring an additional 21,855 shares last quarter. Finally, Monarch Partners Asset Management LLC increased its stake in Ares Commercial Real Estate by 19.5% in the second quarter. Monarch Partners Asset Management LLC now owns 159,790 shares of the real estate investment trust valued at $ 2,347,000, after purchasing an additional 26,115 shares last quarter. Hedge funds and other institutional investors own 56.03% of the company’s stock.
Ares Commercial Real Estate company profile
Ares Commercial Real Estate Corp. deals with the acquisition and investment in commercial real estate loans and related investments. The company’s investments include senior mortgage loans, subordinated debt, preferred stock, mezzanine loans, and other commercial real estate investments, including commercial mortgage loans, obtained directly or indirectly through office, multi-family, retail, industrial, lodging, senior living, self Storage, student dormitories and other commercial real estate or by ownership.
Further reading: Dividend Aristocrats Index
Get a Free Copy of Zacks Research Report on Ares Commercial Real Estate (ACRE)
For more information on Zacks Investment Research’s research offerings, please visit Zacks.com
This instant news alert was generated through narrative science technology and financial data from MarketBeat to provide readers with the fastest, most accurate coverage. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [email protected]
Should You Invest $ 1,000 In Ares Commercial Real Estate Now?
Before you consider Ares Commercial Real Estate, this is what you should hear.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks top analysts whisper to their clients to buy now, before the broader market takes hold … and Ares Commercial Real Estate wasn’t on the list.
While analysts at Ares Commercial Real Estate currently have a “Buy” rating, top-rated analysts think these five stocks are better buys.
Check out the 5 stocks here