ValuEngine Upgrades Ares Commercial Real Estate Corporation (ACRE) to “Buy”

Ares Commercial Real Estate Corporation (NYSE:ACRE) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday, November 7th.

Several other brokerages have also recently weighed in on ACRE. Zacks Investment Research raised shares of Ares Commercial Real Estate from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Wednesday, July 26th. BidaskClub cut shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Credit Suisse Group reissued a “hold” rating on shares of Ares Commercial Real Estate in a research report on Friday, August 4th. JMP Securities increased their price target on shares of Ares Commercial Real Estate to $14.00 and gave the stock a “market outperform” rating in a research note on Monday, August 7th. Finally, Keefe, Bruyette & Woods set a $14.00 price objective on shares of Ares Commercial Real Estate and gave the company a “hold” rating in a research note on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.17.

Ares Commercial Real Estate (ACRE) traded up $0.02 during trading on Tuesday, reaching $13.44. 44,226 shares of the company were exchanged, compared to its average volume of 114,890. The company has a market cap of $384.25, a price-to-earnings ratio of 11.69, a PEG ratio of 1.73 and a beta of 0.68. Ares Commercial Real Estate has a twelve month low of $12.48 and a twelve month high of $14.39.

Ares Commercial Real Estate (NYSE:ACRE) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.11. Ares Commercial Real Estate had a net margin of 33.69% and a return on equity of 7.76%. The business had revenue of $28.55 million during the quarter, compared to analysts’ expectations of $11.71 million. During the same quarter in the previous year, the company earned $0.31 EPS. analysts forecast that Ares Commercial Real Estate will post 1.11 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Delphi Management Inc. MA bought a new stake in Ares Commercial Real Estate during the 3rd quarter worth approximately $850,000. California Public Employees Retirement System raised its position in shares of Ares Commercial Real Estate by 36.8% during the third quarter. California Public Employees Retirement System now owns 92,898 shares of the real estate investment trust’s stock valued at $1,236,000 after buying an additional 24,998 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Ares Commercial Real Estate during the third quarter valued at approximately $140,000. Beck Capital Management LLC bought a new stake in shares of Ares Commercial Real Estate during the third quarter valued at approximately $783,000. Finally, Mackenzie Financial Corp raised its position in shares of Ares Commercial Real Estate by 68.6% during the third quarter. Mackenzie Financial Corp now owns 53,530 shares of the real estate investment trust’s stock valued at $712,000 after buying an additional 21,783 shares during the last quarter. Institutional investors own 63.41% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was originally published by BBNS and is the property of of BBNS. If you are reading this article on another website, it was stolen and republished in violation of international copyright laws. The correct version of this article can be accessed at https://baseballnewssource.com/markets/ares-commercial-real-estate-corporation-acre-upgraded-at-valuengine/1763570.html.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily engaged in originating and investing in commercial real estate (CRE) loans and related investments. The Company operates through principal lending segment. Its target investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investment opportunities, including commercial mortgage-backed securities.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

Receive News & Ratings for Ares Commercial Real Estate Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Commercial Real Estate Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Manny Machado Could Change Positions or Uniforms
Manny Machado Could Change Positions or Uniforms
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot


Leave a Reply

 
© 2006-2017 BBNS.