Ares Commercial Real Estate (NYSE:ACRE) Upgraded to “Buy” by Zacks Investment Research


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Ares Commercial Real Estate (NYSE:ACRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm currently has a $16.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 15.27% from the stock’s previous close.

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. “

ACRE has been the topic of several other research reports. BTIG Research initiated coverage on Ares Commercial Real Estate in a research note on Tuesday, February 2nd. They set a “buy” rating and a $13.50 price objective on the stock. Raymond James restated a “buy” rating and set a $11.00 price objective on shares of Ares Commercial Real Estate in a research note on Friday, December 4th. Finally, TheStreet upgraded Ares Commercial Real Estate from a “d+” rating to a “c” rating in a research note on Wednesday, November 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $12.36.

Shares of NYSE:ACRE traded up $0.01 during trading on Tuesday, hitting $13.88. The company’s stock had a trading volume of 7,282 shares, compared to its average volume of 272,575. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.41 and a current ratio of 1.41. Ares Commercial Real Estate has a fifty-two week low of $2.78 and a fifty-two week high of $17.68. The stock’s 50-day moving average price is $12.23 and its two-hundred day moving average price is $10.82. The company has a market capitalization of $464.17 million, a PE ratio of 26.73 and a beta of 1.33.

Ares Commercial Real Estate (NYSE:ACRE) last released its quarterly earnings results on Wednesday, February 17th. The real estate investment trust reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.06. Ares Commercial Real Estate had a return on equity of 8.92% and a net margin of 17.03%. On average, equities analysts predict that Ares Commercial Real Estate will post 1.27 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Weld Capital Management LLC bought a new stake in Ares Commercial Real Estate in the third quarter worth about $173,000. Mackay Shields LLC raised its position in Ares Commercial Real Estate by 28.7% in the third quarter. Mackay Shields LLC now owns 145,900 shares of the real estate investment trust’s stock worth $1,333,000 after acquiring an additional 32,500 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Ares Commercial Real Estate in the third quarter worth about $27,000. State of New Jersey Common Pension Fund D raised its position in Ares Commercial Real Estate by 1.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 230,718 shares of the real estate investment trust’s stock worth $2,748,000 after acquiring an additional 4,087 shares in the last quarter. Finally, LSV Asset Management raised its position in Ares Commercial Real Estate by 3.2% in the third quarter. LSV Asset Management now owns 323,484 shares of the real estate investment trust’s stock worth $2,956,000 after acquiring an additional 9,900 shares in the last quarter. Institutional investors and hedge funds own 55.82% of the company’s stock.

Ares Commercial Real Estate Company Profile

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. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt products, real estate preferred equity investments, mezzanine loans, and other CRE investments, including commercial mortgage backed securities.

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Analyst Recommendations for Ares Commercial Real Estate (NYSE:ACRE)

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