Ares Commercial Real Estate Corporation (NYSE:ACRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $13.75 target price on shares of Ares Commercial Real Estate Corporation in a research report on Friday, June 9th. Credit Suisse Group reiterated a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research report on Friday. BidaskClub upgraded shares of Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, JMP Securities increased their target price on shares of Ares Commercial Real Estate Corporation to $14.00 and gave the company a “market outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.07.
Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) traded down 0.22% during mid-day trading on Tuesday, hitting $13.36. 124,259 shares of the company traded hands. Ares Commercial Real Estate Corporation has a 52-week low of $12.13 and a 52-week high of $14.39. The firm has a 50-day moving average price of $13.17 and a 200 day moving average price of $13.33. The firm has a market cap of $380.35 million, a price-to-earnings ratio of 9.13 and a beta of 0.69.
Ares Commercial Real Estate Corporation (NYSE:ACRE) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.24. The firm had revenue of $10.40 million during the quarter, compared to analyst estimates of $10.85 million. Ares Commercial Real Estate Corporation had a net margin of 45.06% and a return on equity of 7.07%. Ares Commercial Real Estate Corporation’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. Equities research analysts anticipate that Ares Commercial Real Estate Corporation will post $1.05 EPS for the current fiscal year.
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In other Ares Commercial Real Estate Corporation news, insider Robert L. Rosen purchased 10,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was bought at an average cost of $13.04 per share, with a total value of $130,400.00. Following the acquisition, the insider now owns 66,002 shares of the company’s stock, valued at $860,666.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.75% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Boston Partners increased its stake in shares of Ares Commercial Real Estate Corporation by 2.0% in the second quarter. Boston Partners now owns 2,154,350 shares of the real estate investment trust’s stock worth $28,201,000 after buying an additional 42,639 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Ares Commercial Real Estate Corporation by 7.2% in the first quarter. Vanguard Group Inc. now owns 1,188,935 shares of the real estate investment trust’s stock worth $15,908,000 after buying an additional 79,338 shares during the last quarter. State Street Corp increased its stake in shares of Ares Commercial Real Estate Corporation by 5.4% in the fourth quarter. State Street Corp now owns 670,409 shares of the real estate investment trust’s stock worth $9,206,000 after buying an additional 34,446 shares during the last quarter. Telemus Capital LLC increased its stake in shares of Ares Commercial Real Estate Corporation by 6.5% in the second quarter. Telemus Capital LLC now owns 428,630 shares of the real estate investment trust’s stock worth $5,611,000 after buying an additional 26,035 shares during the last quarter. Finally, Nomura Holdings Inc. increased its stake in shares of Ares Commercial Real Estate Corporation by 10.5% in the first quarter. Nomura Holdings Inc. now owns 427,598 shares of the real estate investment trust’s stock worth $5,710,000 after buying an additional 40,751 shares during the last quarter. 66.87% of the stock is owned by institutional investors.
About Ares Commercial Real Estate Corporation
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.
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