Ares Commercial Real Estate Corporation (ACRE) Downgraded by Zacks Investment Research

Ares Commercial Real Estate Corporation (NYSE:ACRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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. “

Several other research firms have also issued reports on ACRE. BidaskClub lowered Ares Commercial Real Estate Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. 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. JMP Securities raised their price objective on Ares Commercial Real Estate Corporation to $14.00 and gave the company a “market outperform” rating in a research note on Monday. Finally, Credit Suisse Group reaffirmed a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $14.07.

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) opened at 13.29 on Tuesday. Ares Commercial Real Estate Corporation has a 1-year low of $12.13 and a 1-year high of $14.39. The firm’s 50-day moving average is $13.10 and its 200-day moving average is $13.31. The firm has a market cap of $378.35 million, a P/E ratio of 9.08 and a beta of 0.69.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, hitting the 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%. Ares Commercial Real Estate Corporation’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. On average, analysts anticipate that Ares Commercial Real Estate Corporation will post $1.05 EPS for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of ACRE. ClariVest Asset Management LLC increased its position 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. American International Group Inc. increased its position in Ares Commercial Real Estate Corporation by 6.9% in the first quarter. American International Group Inc. now owns 16,512 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 1,060 shares in the last quarter. Hancock Holding Co. increased its position 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. TFS Capital LLC purchased a new position in Ares Commercial Real Estate Corporation during the first quarter valued at approximately $227,000. Finally, Joel Isaacson & Co. LLC purchased a new position in Ares Commercial Real Estate Corporation during the first quarter valued at approximately $971,000. Hedge funds and other institutional investors own 66.87% of the company’s stock.

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

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