Ares Commercial Real Estate (NYSE:ACRE – Get Rating)‘s stock had its “buy” rating restated by stock analysts at JMP Securities in a research report issued to clients and investors on Tuesday, TipRanks reports. They presently have a $16.50 price target on the real estate investment trust’s stock. JMP Securities’ price target indicates a potential upside of 14.11% from the stock’s current price.
A number of other brokerages also recently commented on ACRE. Zacks Investment Research downgraded Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. StockNews.com began coverage on Ares Commercial Real Estate in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. lifted their price objective on 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.75.
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ACRE stock traded down $0.01 during midday trading on Tuesday, hitting $14.46. 11,415 shares of the stock were exchanged, compared to its average volume of 627,981. The stock’s 50-day moving average price is $15.35 and its 200-day moving average price is $14.98. The stock has a market cap of $685.95 million, a price-to-earnings ratio of 10.75 and a beta of 1.20. Ares Commercial Real Estate has a fifty-two week low of $13.48 and a fifty-two week high of $16.98. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.61 and a current ratio of 0.61.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.34 earnings per share 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 period last year, the firm earned $0.38 earnings per share. Research analysts anticipate that Ares Commercial Real Estate will post 1.38 EPS for the current year.
In other news, Director William Stephen Benjamin purchased 18,000 shares of the stock in a transaction on Wednesday, February 23rd. The stock was purchased at an average price of $14.05 per share, with a total value of $252,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.95% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Spire Wealth Management acquired a new position in shares of Ares Commercial Real Estate in the fourth quarter worth about $688,000. Roosevelt Investment Group LLC acquired a new stake in Ares Commercial Real Estate during the fourth quarter valued at approximately $291,000. Voya Investment Management LLC raised its stake in Ares Commercial Real Estate by 7.1% during the third quarter. Voya Investment Management LLC now owns 14,494 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 961 shares in the last quarter. Barclays PLC raised its stake in Ares Commercial Real Estate by 274.8% during the third quarter. Barclays PLC now owns 17,887 shares of the real estate investment trust’s stock valued at $270,000 after buying an additional 13,115 shares in the last quarter. Finally, Tudor Investment Corp Et Al raised its stake in Ares Commercial Real Estate by 84.3% during the third quarter. Tudor Investment Corp Et Al now owns 49,719 shares of the real estate investment trust’s stock valued at $750,000 after buying an additional 22,737 shares in the last quarter. Institutional investors and hedge funds 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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