Ares Commercial Real Estate (NYSE:ACRE) Cut to “D+” at TheStreet

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TheStreet lowered shares of Ares Commercial Real Estate (NYSE:ACRE) from a c rating to a d+ rating in a research note released on Thursday, TheStreetRatingsTable reports.

A number of other equities research analysts have also recently issued reports on ACRE. JMP Securities reduced their price objective on Ares Commercial Real Estate from $16.00 to $10.00 and set a market outperform rating for the company in a report on Wednesday, April 22nd. Credit Suisse Group reduced their price target on Ares Commercial Real Estate from $17.50 to $9.00 and set an outperform rating for the company in a research note on Monday, April 27th. Raymond James decreased their price objective on Ares Commercial Real Estate from $16.00 to $11.00 and set a strong-buy rating on the stock in a report on Monday, April 13th. ValuEngine raised Ares Commercial Real Estate from a strong sell rating to a sell rating in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Ares Commercial Real Estate from $16.00 to $16.50 and gave the company a neutral rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $11.63.

ACRE stock opened at $7.20 on Thursday. Ares Commercial Real Estate has a one year low of $2.78 and a one year high of $17.72. The stock has a market cap of $236.77 million, a price-to-earnings ratio of 16.36 and a beta of 1.22. The company has a fifty day moving average price of $6.92 and a two-hundred day moving average price of $12.91. The company has a debt-to-equity ratio of 3.31, a current ratio of 1.15 and a quick ratio of 1.15.

Ares Commercial Real Estate (NYSE:ACRE) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $0.37 EPS for the quarter, topping the consensus estimate of $0.33 by $0.04. The business had revenue of $28.54 million during the quarter. Ares Commercial Real Estate had a net margin of 9.46% and a return on equity of 9.18%. Research analysts anticipate that Ares Commercial Real Estate will post 0.89 EPS for the current fiscal year.

In related news, Director Michael J. Arougheti acquired 20,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average cost of $11.50 per share, with a total value of $230,000.00. Following the acquisition, the director now directly owns 372,776 shares of the company’s stock, valued at $4,286,924. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.19% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC acquired a new position in shares of Ares Commercial Real Estate in the 1st quarter valued at approximately $5,944,000. BlackRock Inc. increased its stake in Ares Commercial Real Estate by 9.5% in the first quarter. BlackRock Inc. now owns 3,308,479 shares of the real estate investment trust’s stock valued at $23,127,000 after acquiring an additional 288,237 shares during the last quarter. Two Sigma Advisers LP increased its stake in Ares Commercial Real Estate by 209.2% in the first quarter. Two Sigma Advisers LP now owns 325,843 shares of the real estate investment trust’s stock valued at $2,278,000 after acquiring an additional 220,474 shares during the last quarter. Kennedy Capital Management Inc. raised its position in Ares Commercial Real Estate by 391.8% during the fourth quarter. Kennedy Capital Management Inc. now owns 245,895 shares of the real estate investment trust’s stock valued at $3,895,000 after purchasing an additional 195,895 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Ares Commercial Real Estate by 130.3% during the first quarter. Two Sigma Investments LP now owns 321,757 shares of the real estate investment trust’s stock worth $2,249,000 after purchasing an additional 182,024 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, real estate preferred equity investments, mezzanine loans, and other CRE investments.

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