Ares Commercial Real Estate (NYSE: ACRE) has been improved by Zacks investment research from a “keep” note to a “buy” note in a note issued to investors on Friday, Zacks.com reports. The brokerage firm currently has a price target of $ 17.00 on the shares of the REIT. Zacks investment researchThe company’s price target points to a potential rise of 15.72% from the company’s previous close.
According to Zacks, “Ares Commercial Real Estate Corporation is a specialty finance company focused on granting, investing and managing mid-market commercial real estate loans and other commercial real estate investments. The Company’s financing solutions include its target investments, which include the following: Transitional First Mortgage Loans, Extended First Mortgage Loans, Subordinated Debt Mortgages and Other Debt and Preferred Share Investments. 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 price target for Ares Commercial Real Estate from $ 16.50 to $ 17.00 and gave the company a “market outperformance” rating in a research report released Thursday, November 4. BTIG Research reissued a “buy” note and set a price target of $ 16.50 on Ares Commercial Real Estate shares in a report released on Friday, November 12. One analyst rated the stock with a conservation rating and five issued a buy rating for the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $ 16.08.
ACRE traded down $ 0.31 during the Friday midday session, reaching $ 14.69. 13,503 shares of the company were traded, for an average volume of 473,302. The company has a market capitalization of $ 690.46 million, a P / E ratio of 9.66 and a beta of 1.31. Ares Commercial Real Estate has a one-year low at $ 11.16 and a one-year high at $ 16.98. The company’s 50-day average mobile price is $ 15.49, and its 200-day average mobile price is $ 15.37. The company has a quick ratio of 0.33, a current ratio of 0.33, and a debt to equity ratio of 2.55.
Ares Commercial Real Estate (NYSE: ACRE) last reported its quarterly results on Wednesday, November 3. The real estate investment trust reported earnings per share (EPS) of $ 0.37 for the quarter, beating consensus analysts’ estimates of $ 0.34 by $ 0.03. Ares Commercial Real Estate recorded a return on equity of 9.74% and a net margin of 61.95%. During the same period of the previous year, the company posted $ 0.30 in EPS. On average, sell-side analysts predict that Ares Commercial Real Estate will post earnings per share of 1.47 for the current fiscal year.
Several large investors have recently bought and sold shares of ACRE. Morgan Stanley increased its position in Ares Commercial Real Estate shares by 117.5% in the first quarter. Morgan Stanley now owns 145,323 real estate investment trust shares worth $ 1,993,000 after acquiring an additional 78,495 shares in the last quarter. Arkadios Wealth Advisors increased its position in Ares Commercial Real Estate shares by 399.7% during the second quarter. Arkadios Wealth Advisors now owns 26,375 real estate investment trust shares worth $ 387,000 after acquiring an additional 21,097 shares during the last quarter. Advisors Asset Management Inc. increased its position in Ares Commercial Real Estate shares by 3.0% in the second quarter. Advisors Asset Management Inc. now owns 163,090 real estate investment trust shares worth $ 2,396,000 after acquiring an additional 4,725 shares in the last quarter. Whittier Trust Co. increased its position in Ares Commercial Real Estate shares by 52.9% in the second quarter. Whittier Trust Co. now owns 63,155 REIT shares valued at $ 928,000 after acquiring an additional 21,855 shares during the last quarter. Finally, Monarch Partners Asset Management LLC increased its position in Ares Commercial Real Estate shares by 19.5% in the second quarter. Monarch Partners Asset Management LLC now owns 159,790 real estate investment trust shares worth $ 2,347,000 after purchasing an additional 26,115 shares in the last quarter. Hedge funds and other institutional investors hold 56.03% of the company’s shares.
Ares Commercial Real Estate Company Profile
Ares Commercial Real Estate Corp. undertakes to create and invest in commercial real estate loans and related investments. The Company’s investments include first mortgage loans, subordinated debt, preferred stocks, mezzanine loans and other commercial real estate investments, including commercial mortgage-backed securities, which are secured, directly or indirectly. , by office, multi-family, commercial, industrial, accommodation, senior-life, self-storage, student housing and other commercial real estate, or by property interests.
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