Ares Commercial Real Estate (NYSE: ACRE) Lowered to “Hold” at Zacks Investment Research
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. “
A number of other analysts have also recently commented on the company. BTIG Research reaffirmed a “buy” rating and issued a price target of $ 16.50 for Ares Commercial Real Estate shares in a research report on Friday, November 12. JMP Securities raised its target price on Ares Commercial Real Estate from $ 16.50 to $ 17.00 and gave the stock a “market outperformance” rating in a research report released Thursday, November 4. Two research analysts rated the stock with a conservation rating and four gave the company’s stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $ 15.92.
Actions of ACRE NYSE traded down $ 0.12 at midday Thursday, hitting $ 15.00. 10,370 shares of the stock traded for an average volume of 473,984. The company has a leverage ratio of 2.55, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a fifty-day moving average price of $ 15.49 and a 200-day moving average price of $ 15.38. Ares Commercial Real Estate has a 52 week low of $ 11.16 and a 52 week high of $ 16.98. The company has a market cap of $ 705.03 million, a price-to-earnings ratio of 9.87 and a beta of 1.31.
Ares Commercial Real Estate (NYSE: ACRE) last reported its results on Wednesday, November 3. The REIT reported EPS of $ 0.37 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.34 of $ 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 made EPS of $ 0.30. As a group, sell-side analysts predict that Ares Commercial Real Estate will post 1.47 EPS for the current fiscal year.
Large investors have recently changed their positions in the company. BlackRock Inc. strengthened its position in Ares Commercial Real Estate shares by 10.8% in the 3rd quarter. BlackRock Inc. now owns 4,456,082 real estate investment trust shares worth $ 67,197,000 after purchasing an additional 435,702 shares during the last quarter. Vanguard Group Inc. strengthened its position in Ares Commercial Real Estate shares by 19.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,191,421 real estate investment trust shares worth $ 32,193,000 after purchasing an additional 359,793 shares during the last quarter. Delphi Financial Group Inc. strengthened its position in Ares Commercial Real Estate shares by 2.2% in the 3rd quarter. Delphi Financial Group Inc. now owns 1,595,365 real estate investment trust shares worth $ 24,058,000 after purchasing an additional 34,087 shares in the last quarter. 1832 Asset Management LP strengthened its position in Ares Commercial Real Estate shares by 103.7% in the 2nd quarter. 1832 Asset Management LP now owns 1,578,146 REIT shares valued at $ 23,050,000 after purchasing an additional 803,484 shares during the last quarter. Finally, Invesco Ltd. increased its position in Ares Commercial Real Estate by 16.8% during the 2nd quarter. Invesco Ltd. now owns 1,137,645 real estate investment trust shares valued at $ 16,713,000 after acquiring an additional 163,272 shares during the period. Institutional investors and hedge funds hold 56.03% of the company’s shares.
About Ares Immobilier Commercial
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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