Citizens Jmp Reiterates Market Perform Rating for Ares Commercial Real Estate (NYSE:ACRE)

Ares Commercial Real Estate (NYSE:ACRE)‘s stock had its “market perform” rating restated by stock analysts at Citizens Jmp in a note issued to investors on Thursday,Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods lowered their target price on Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. UBS Group initiated coverage on Ares Commercial Real Estate in a research report on Tuesday, June 2nd. They issued a “neutral” rating and a $5.50 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ares Commercial Real Estate in a research report on Monday, May 11th. Finally, Zacks Research downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $5.38.

Ares Commercial Real Estate Price Performance

ACRE opened at $4.43 on Thursday. Ares Commercial Real Estate has a 1-year low of $4.05 and a 1-year high of $5.89. The stock’s 50 day simple moving average is $4.77 and its 200 day simple moving average is $4.94. The stock has a market cap of $246.05 million, a P/E ratio of -12.32 and a beta of 1.15.

Ares Commercial Real Estate (NYSE:ACRE) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $13.46 million during the quarter, compared to analysts’ expectations of $11.63 million. Ares Commercial Real Estate had a negative net margin of 37.21% and a negative return on equity of 2.80%. Research analysts expect that Ares Commercial Real Estate will post 0.4 EPS for the current fiscal year.

Institutional Trading of Ares Commercial Real Estate

Several large investors have recently added to or reduced their stakes in ACRE. Russell Investments Group Ltd. boosted its position in shares of Ares Commercial Real Estate by 456.0% in the third quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 4,948 shares during the period. Optiver Holding B.V. lifted its position in Ares Commercial Real Estate by 603.3% during the 1st quarter. Optiver Holding B.V. now owns 6,513 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 5,587 shares in the last quarter. Triumph Capital Management acquired a new position in Ares Commercial Real Estate during the 3rd quarter worth approximately $38,000. BNP Paribas Financial Markets boosted its holdings in Ares Commercial Real Estate by 100.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,367 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 5,192 shares during the period. Finally, Strs Ohio purchased a new position in Ares Commercial Real Estate in the 1st quarter worth approximately $47,000. 41.34% of the stock is currently owned by institutional investors and hedge funds.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.