Ares Commercial Real Estate (ACRE) Lowered to Hold at Zacks Investment Research

Ares Commercial Real Estate (NYSE:ACRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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 a number of other research reports. B. Riley reaffirmed a “buy” rating on shares of Ares Commercial Real Estate in a report on Thursday, November 2nd. BidaskClub downgraded Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Finally, ValuEngine raised Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $14.13.

Shares of Ares Commercial Real Estate (ACRE) traded up $0.09 during midday trading on Wednesday, reaching $12.36. The company’s stock had a trading volume of 94,885 shares, compared to its average volume of 142,701. The firm has a market capitalization of $347.08, a P/E ratio of 10.84 and a beta of 0.62. Ares Commercial Real Estate has a fifty-two week low of $11.96 and a fifty-two week high of $14.22.

Several institutional investors have recently added to or reduced their stakes in ACRE. Nationwide Fund Advisors lifted its holdings in shares of Ares Commercial Real Estate by 5.3% during the second quarter. Nationwide Fund Advisors now owns 16,686 shares of the real estate investment trust’s stock worth $218,000 after purchasing an additional 839 shares during the period. Northern Trust Corp lifted its holdings in Ares Commercial Real Estate by 4.5% in the second quarter. Northern Trust Corp now owns 305,097 shares of the real estate investment trust’s stock valued at $3,994,000 after acquiring an additional 12,999 shares during the period. Vanguard Group Inc. lifted its holdings in Ares Commercial Real Estate by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,238,404 shares of the real estate investment trust’s stock valued at $16,211,000 after acquiring an additional 49,469 shares during the period. California Public Employees Retirement System lifted its holdings in Ares Commercial Real Estate by 39.7% in the second quarter. California Public Employees Retirement System now owns 67,900 shares of the real estate investment trust’s stock valued at $889,000 after acquiring an additional 19,300 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in Ares Commercial Real Estate by 14.9% in the second quarter. Parametric Portfolio Associates LLC now owns 86,671 shares of the real estate investment trust’s stock valued at $1,135,000 after acquiring an additional 11,239 shares during the period. 64.37% of the stock is owned by hedge funds and other institutional investors.

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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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