Ares Commercial Real Estate (ACRE) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Ares Commercial Real Estate (NYSE:ACRE) from a sell rating to a hold rating in a research report report published on Wednesday morning.

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. Bank of America cut Ares Commercial Real Estate from a buy rating to a hold rating and set a $14.00 target price for the company. in a report on Wednesday, May 23rd. JMP Securities increased their target price on Ares Commercial Real Estate from $14.50 to $15.00 and gave the company a market outperform rating in a report on Monday, July 30th. Raymond James started coverage on Ares Commercial Real Estate in a report on Monday, July 23rd. They set an outperform rating for the company. ValuEngine cut Ares Commercial Real Estate from a buy rating to a hold rating in a report on Friday, June 1st. Finally, JPMorgan Chase & Co. cut Ares Commercial Real Estate from an overweight rating to a neutral rating in a report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Ares Commercial Real Estate currently has an average rating of Hold and a consensus price target of $14.25.

Shares of Ares Commercial Real Estate stock opened at $14.13 on Wednesday. Ares Commercial Real Estate has a 12 month low of $11.96 and a 12 month high of $14.25. The company has a market cap of $398.91 million, a price-to-earnings ratio of 12.73 and a beta of 0.55.

Ares Commercial Real Estate (NYSE:ACRE) last announced its earnings results on Thursday, July 26th. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Ares Commercial Real Estate had a return on equity of 8.85% and a net margin of 32.36%. The business had revenue of $29.60 million during the quarter, compared to analysts’ expectations of $27.30 million. equities research analysts expect that Ares Commercial Real Estate will post 1.29 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 16th. Investors of record on Friday, September 28th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.21%. The ex-dividend date of this dividend is Thursday, September 27th. This is a boost from Ares Commercial Real Estate’s previous quarterly dividend of $0.28. Ares Commercial Real Estate’s dividend payout ratio (DPR) is currently 100.90%.

Several large investors have recently bought and sold shares of the stock. Millennium Management LLC increased its holdings in shares of Ares Commercial Real Estate by 21.0% in the second quarter. Millennium Management LLC now owns 314,406 shares of the real estate investment trust’s stock valued at $4,342,000 after purchasing an additional 54,543 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Ares Commercial Real Estate in the second quarter valued at approximately $603,000. Resource America Inc. acquired a new stake in shares of Ares Commercial Real Estate in the second quarter valued at approximately $3,256,000. Greenwich Investment Management Inc. increased its holdings in shares of Ares Commercial Real Estate by 10.7% in the second quarter. Greenwich Investment Management Inc. now owns 71,155 shares of the real estate investment trust’s stock valued at $983,000 after purchasing an additional 6,900 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of Ares Commercial Real Estate by 69.4% in the second quarter. Citadel Advisors LLC now owns 30,656 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 12,559 shares during the last quarter. 66.10% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Company Profile

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, mezzanine loans, real estate preferred equity investments, and other CRE investments.

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