Ares Commercial Real Estate (NYSE:ACRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $14.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 9.80% from the company’s current price.
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. “
Separately, B. Riley reiterated a “buy” rating and issued a $14.00 price objective on shares of Ares Commercial Real Estate in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Ares Commercial Real Estate has a consensus rating of “Hold” and a consensus price target of $14.13.
Ares Commercial Real Estate (NYSE:ACRE) last posted its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Ares Commercial Real Estate had a return on equity of 7.54% and a net margin of 31.17%. The firm had revenue of $25.22 million during the quarter, compared to analysts’ expectations of $11.35 million. During the same period in the prior year, the business earned $0.28 EPS. equities analysts anticipate that Ares Commercial Real Estate will post 1.24 earnings per share for the current fiscal year.
In related news, Director William Stephen Benjamin bought 12,715 shares of the stock in a transaction dated Wednesday, March 7th. The stock was bought at an average price of $12.32 per share, with a total value of $156,648.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.75% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Ares Commercial Real Estate in the 3rd quarter valued at about $103,000. Atria Investments LLC bought a new stake in shares of Ares Commercial Real Estate in the 4th quarter valued at about $132,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ares Commercial Real Estate in the 3rd quarter valued at about $140,000. MetLife Investment Advisors LLC bought a new stake in shares of Ares Commercial Real Estate in the 4th quarter valued at about $148,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Ares Commercial Real Estate in the 4th quarter valued at about $178,000. 63.16% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “Ares Commercial Real Estate (ACRE) Upgraded by Zacks Investment Research to “Buy”” was originally published by Ticker Report and is the sole property of of Ticker Report. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.tickerreport.com/banking-finance/3261997/ares-commercial-real-estate-acre-upgraded-by-zacks-investment-research-to-buy.html.
About Ares Commercial Real Estate
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ares Commercial Real Estate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Commercial Real Estate and related companies with MarketBeat.com's FREE daily email newsletter.