Ares Commercial Real Estate (NYSE:ACRE – Get Appraisal) had its target price reduced by Credit Suisse Group equity research analysts to $14.50 in a research report released Friday to clients and investors, Stock Target Advisor reports. Credit Suisse Group’s target price would indicate a potential upside of 11.97% from the company’s current price.
A number of other research companies have also recently published reports on ACRE. JPMorgan Chase & Co. raised its price target on Ares Commercial Real Estate shares from $14.50 to $16.00 and gave the company a “neutral” rating in a Monday, April 25 research report . StockNews.com launched coverage on Ares Commercial Real Estate shares in a research report on Thursday, March 31. They have set a “holding” rating on the stock. Finally, JMP Securities reiterated a “buy” rating and set a price target of $16.50 on Ares Commercial Real Estate shares in a Tuesday, May 24 research report.
Ares Commercial Real Estate Trading down 0.3%
NYSE:ACRE traded down $0.04 during Friday trading hours, hitting $12.95. The company’s shares had a trading volume of 625,895 shares, compared to an average volume of 672,292. The company has a market capitalization of $614.32 million, a price-earnings ratio of 9.66 and a beta of 1.23. The company has a 50-day simple moving average of $13.29 and a 200-day simple moving average of $14.39. Ares Commercial Real Estate has a 1 year low of $11.18 and a 1 year high of $16.48. The company has a debt ratio of 2.57, a quick ratio of 0.61 and a current ratio of 0.61.
Ares Commercial Real Estate (NYSE:ACRE – Get Rating) last released its results on Tuesday, May 3. The real estate investment trust reported EPS of $0.34 for the quarter, missing analyst consensus estimates of $0.36 per ($0.02). Ares Commercial Real Estate achieved a return on equity of 9.74% and a net margin of 58.09%. In the same quarter a year earlier, the company posted earnings per share of $0.38. Research analysts expect Ares Commercial Real Estate to post EPS of 1.38 for the current financial year.
Institutional entries and exits
Several hedge funds and other institutional investors have recently changed their positions in ACRE. Qube Research & Technologies Ltd bought a new position in Ares Commercial Real Estate during the fourth quarter, valued at approximately $1,001,000. Concorde Asset Management LLC increased its position in Ares Commercial Real Estate by 1.1% during the fourth quarter. Concorde Asset Management LLC now owns 87,478 shares of the real estate investment trust worth $1,272,000 after purchasing an additional 930 shares during the period. Roosevelt Investment Group LLC acquired a new stake in Ares Commercial Real Estate during the fourth quarter, valued at approximately $291,000. Monarch Partners Asset Management LLC increased its stake in Ares Commercial Real Estate by 9.1% during the fourth quarter. Monarch Partners Asset Management LLC now owns 192,568 shares of the real estate investment trust valued at $2,800,000 after purchasing an additional 16,017 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its stake in Ares Commercial Real Estate by 46.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 34,640 shares of the real estate investment trust worth $505,000 after buying 11,049 additional shares in the last quarter. Institutional investors hold 46.66% of the company’s shares.
About Ares Real Estate Commercial
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Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. The company offers a range of financing solutions for owners, operators and sponsors of CRE properties. It issues first mortgage loans, subordinated debt products, mezzanine loans, preferred equity investments in real estate and other CRE investments, including commercial mortgage-backed securities.
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