Ares Commercial Real Estate Corporation (NYSE:ACRE) had its target price raised by research analysts at JMP Securities to $14.00 in a research note issued to investors on Monday, August 7th. The firm currently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ target price would indicate a potential upside of 6.63% from the company’s current price.
Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Ares Commercial Real Estate Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of Ares Commercial Real Estate Corporation from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods reissued 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. Finally, Credit Suisse Group reissued a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Ares Commercial Real Estate Corporation has an average rating of “Hold” and an average price target of $14.17.
Shares of Ares Commercial Real Estate Corporation (NYSE ACRE) traded down 1.50% during trading on Monday, hitting $13.13. 79,738 shares of the company traded hands. The stock has a market cap of $374.95 million, a price-to-earnings ratio of 9.43 and a beta of 0.69. The firm has a 50 day moving average price of $13.06 and a 200-day moving average price of $13.30. Ares Commercial Real Estate Corporation has a one year low of $12.13 and a one year high of $14.39.
Ares Commercial Real Estate Corporation (NYSE:ACRE) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $10.40 million for the quarter, compared to the consensus estimate of $10.85 million. Ares Commercial Real Estate Corporation had a net margin of 45.06% and a return on equity of 7.07%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. Analysts predict that Ares Commercial Real Estate Corporation will post $1.05 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL increased its position in shares of Ares Commercial Real Estate Corporation by 1.5% in the first quarter. Tudor Investment Corp ET AL now owns 10,705 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 158 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of Ares Commercial Real Estate Corporation by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 15,494 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 791 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Ares Commercial Real Estate Corporation by 5.3% in the second quarter. Nationwide Fund Advisors now owns 16,686 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 839 shares during the last quarter. Ares Management LLC increased its position in shares of Ares Commercial Real Estate Corporation by 3.6% in the second quarter. Ares Management LLC now owns 29,386 shares of the real estate investment trust’s stock worth $384,000 after buying an additional 1,008 shares during the last quarter. Finally, American International Group Inc. increased its position in shares of Ares Commercial Real Estate Corporation by 6.9% in the first quarter. American International Group Inc. now owns 16,512 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 1,060 shares during the last quarter. 66.70% of the stock is currently owned by hedge funds and other institutional investors.
Ares Commercial Real Estate Corporation Company Profile
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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