Ares Commercial Real Estate Corporation (ACRE) PT Raised to $14.00

Ares Commercial Real Estate Corporation (NYSE:ACRE) had its price objective increased by investment analysts at JMP Securities to $14.00 in a note issued to investors on Monday, August 7th. The firm presently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ target price suggests a potential upside of 6.38% from the company’s current price.

ACRE has been the topic of a number of other reports. Zacks Investment Research raised Ares Commercial Real Estate Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $13.75 price objective on shares of Ares Commercial Real Estate Corporation in a research note on Wednesday, May 3rd. Credit Suisse Group reaffirmed a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research note on Friday, August 4th. Finally, BidaskClub lowered Ares Commercial Real Estate Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Ares Commercial Real Estate Corporation currently has a consensus rating of “Hold” and a consensus price target of $14.21.

Shares of Ares Commercial Real Estate Corporation (NYSE ACRE) opened at 13.16 on Monday. The company has a market capitalization of $375.81 million, a PE ratio of 9.45 and a beta of 0.69. Ares Commercial Real Estate Corporation has a 52 week low of $12.13 and a 52 week high of $14.39. The stock has a 50 day moving average price of $13.06 and a 200-day moving average price of $13.30.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.24 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.24. The company had revenue of $10.40 million for the quarter, compared to analyst estimates of $10.85 million. Ares Commercial Real Estate Corporation had a return on equity of 7.07% and a net margin of 45.06%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. Equities research analysts expect that Ares Commercial Real Estate Corporation will post $1.05 EPS for the current year.

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Large investors have recently added to or reduced their stakes in the stock. Edge Wealth Management LLC increased its stake in Ares Commercial Real Estate Corporation by 900.0% in the second quarter. Edge Wealth Management LLC now owns 10,000 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 9,000 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in Ares Commercial Real Estate Corporation by 1.5% in the first quarter. Tudor Investment Corp ET AL now owns 10,705 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 158 shares in the last quarter. Hancock Holding Co. increased its stake in Ares Commercial Real Estate Corporation by 26.0% in the first quarter. Hancock Holding Co. now owns 13,162 shares of the real estate investment trust’s stock valued at $176,000 after buying an additional 2,713 shares in the last quarter. ClariVest Asset Management LLC increased its stake in Ares Commercial Real Estate Corporation by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 15,494 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 791 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in Ares Commercial Real Estate Corporation by 32.1% in the second quarter. Citadel Advisors LLC now owns 16,324 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 3,966 shares in the last quarter. Hedge funds and other institutional investors own 66.70% of the company’s stock.

About Ares Commercial Real Estate Corporation

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.

Analyst Recommendations for Ares Commercial Real Estate Corporation (NYSE:ACRE)

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