Ares Commercial Real Estate (NYSE:ACRE) had its target price lifted by analysts at Raymond James from $12.00 to $15.00 in a research note issued on Thursday. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. Raymond James' price objective indicates a potential upside of 8.23% from the company's previous close.
ACRE has been the topic of a number of other reports. TheStreet upgraded Ares Commercial Real Estate from a "d+" rating to a "c" rating in a research report on Wednesday, November 18th. Zacks Investment Research upgraded Ares Commercial Real Estate from a "hold" rating to a "buy" rating and set a $16.00 target price for the company in a research note on Tuesday. Finally, BTIG Research started coverage on Ares Commercial Real Estate in a research note on Tuesday, February 2nd. They issued a "buy" rating and a $13.50 target price for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Ares Commercial Real Estate currently has an average rating of "Buy" and an average price target of $12.93.
Shares of ACRE stock traded down $0.29 during trading hours on Thursday, reaching $13.86. The company's stock had a trading volume of 3,433 shares, compared to its average volume of 275,784. The stock has a market capitalization of $464.01 million, a P/E ratio of 27.02 and a beta of 1.33. Ares Commercial Real Estate has a one year low of $2.78 and a one year high of $17.42. The firm's fifty day simple moving average is $12.32 and its 200 day simple moving average is $10.86. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 2.98.
Ares Commercial Real Estate (NYSE:ACRE) last issued its quarterly earnings data on Wednesday, February 17th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.35 by $0.06. Ares Commercial Real Estate had a return on equity of 8.92% and a net margin of 17.03%. As a group, equities research analysts forecast that Ares Commercial Real Estate will post 1.27 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the business. Weld Capital Management LLC purchased a new position in Ares Commercial Real Estate during the third quarter valued at $173,000. Mackay Shields LLC raised its stake in Ares Commercial Real Estate by 28.7% during the third quarter. Mackay Shields LLC now owns 145,900 shares of the real estate investment trust's stock valued at $1,333,000 after buying an additional 32,500 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Ares Commercial Real Estate by 1.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 230,718 shares of the real estate investment trust's stock valued at $2,748,000 after buying an additional 4,087 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Ares Commercial Real Estate during the third quarter valued at $27,000. Finally, LSV Asset Management raised its stake in Ares Commercial Real Estate by 3.2% during the third quarter. LSV Asset Management now owns 323,484 shares of the real estate investment trust's stock valued at $2,956,000 after buying an additional 9,900 shares during the last quarter. Institutional investors and hedge funds own 55.82% of the company's stock.
About Ares Commercial Real Estate
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. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt products, real estate preferred equity investments, mezzanine loans, and other CRE investments, including commercial mortgage backed securities.
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