Ares Commercial Real Estate (NYSE:ACRE) Upgraded to Hold by Zacks Investment Research
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.
According to Zacks, “Ares Commercial Real Estate Corporation is a specialty finance company focused on originating, investing in and managing middle-market commercial real estate loans and other commercial real estate investments. The Company’s financing solutions are comprised of its target investments, which include the following: Transitional senior mortgage loans, Stretch senior mortgage loans, Subordinate debt mortgage loans and Other CRE debt and preferred equity investments. Ares Commercial Real Estate Corporation is based in Chicago, Illinois.”
Shares of Ares Commercial Real Estate stock traded up $0.09 during midday trading on Monday, reaching $15.52. The company had a trading volume of 28,243 shares, compared to its average volume of 500,491. The stock has a fifty day moving average price of $14.62 and a 200 day moving average price of $15.02. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $732.89 million, a PE ratio of 10.70 and a beta of 1.25. Ares Commercial Real Estate has a fifty-two week low of $13.48 and a fifty-two week high of $16.98.
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Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last issued its quarterly earnings results on Monday, February 14th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.04. Ares Commercial Real Estate had a return on equity of 9.83% and a net margin of 59.23%. During the same period last year, the firm earned $0.40 EPS. As a group, sell-side analysts forecast that Ares Commercial Real Estate will post 1.42 EPS for the current year.
In other news, CEO Bryan Patrick Donohoe sold 8,813 shares of the business’s stock in a transaction that occurred on Tuesday, January 18th. The stock was sold at an average price of $14.96, for a total transaction of $131,842.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Stephen Benjamin acquired 18,000 shares of the firm’s stock in a transaction dated Wednesday, February 23rd. The shares were purchased at an average price of $14.05 per share, with a total value of $252,900.00. The disclosure for this purchase can be found here. 1.96% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Capital Analysts LLC bought a new stake in Ares Commercial Real Estate during the third quarter worth $48,000. Penserra Capital Management LLC bought a new stake in Ares Commercial Real Estate during the third quarter worth $81,000. Metropolitan Life Insurance Co NY grew its holdings in Ares Commercial Real Estate by 105,411.1% during the second quarter. Metropolitan Life Insurance Co NY now owns 9,496 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 9,487 shares in the last quarter. Strs Ohio grew its holdings in Ares Commercial Real Estate by 14.8% during the third quarter. Strs Ohio now owns 10,100 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 1,300 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in Ares Commercial Real Estate during the fourth quarter worth $154,000. Institutional investors and hedge funds own 52.19% of the company’s stock.
About Ares Commercial Real Estate (Get Rating)
Ares Commercial Real Estate Corp. engages in originating and investing in commercial real estate loans and related investments. Its target investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans, and other CRE investments, as well as commercial mortgage-backed securities.
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