Ares Commercial Real Estate (ACRE) Raised to “Buy” at Zacks Investment Research
Ares Commercial Real Estate (NYSE:ACRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm presently has a $14.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.28% from the stock’s previous close.
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. “
ACRE has been the subject of several other research reports. B. Riley reissued a “buy” rating on shares of Ares Commercial Real Estate in a research note on Thursday, November 2nd. BidaskClub cut Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Finally, ValuEngine upgraded Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $14.13.
Ares Commercial Real Estate (NYSE:ACRE) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.11. Ares Commercial Real Estate had a net margin of 33.69% and a return on equity of 7.76%. The firm had revenue of $28.55 million during the quarter, compared to the consensus estimate of $11.71 million. During the same quarter in the previous year, the company posted $0.31 EPS. equities analysts expect that Ares Commercial Real Estate will post 1.11 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of ACRE. Yorktown Management & Research Co Inc purchased a new stake in Ares Commercial Real Estate in the 2nd quarter valued at about $3,011,000. Thrivent Financial For Lutherans grew its holdings in Ares Commercial Real Estate by 155.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 226,060 shares of the real estate investment trust’s stock valued at $2,959,000 after buying an additional 137,570 shares during the period. Kennedy Capital Management Inc. grew its holdings in Ares Commercial Real Estate by 113.2% in the 2nd quarter. Kennedy Capital Management Inc. now owns 170,749 shares of the real estate investment trust’s stock valued at $2,235,000 after buying an additional 90,644 shares during the period. Delphi Management Inc. MA purchased a new stake in Ares Commercial Real Estate in the 3rd quarter valued at about $850,000. Finally, Beck Capital Management LLC purchased a new stake in Ares Commercial Real Estate in the 3rd quarter valued at about $783,000. Institutional investors own 63.19% of the company’s stock.
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Ares Commercial Real Estate 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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