Zacks Investment Research upgraded shares of Ares Commercial Real Estate Corp. (NYSE:ACRE) from a hold rating to a buy rating in a research report report published on Thursday morning. The brokerage currently has $14.00 price objective on the stock.

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 equities research analysts have also issued reports on the company. Credit Suisse Group AG reissued a hold rating and set a $13.00 price objective on shares of Ares Commercial Real Estate Corp. in a research note on Friday, September 9th. Citigroup Inc. raised their price target on Ares Commercial Real Estate Corp. from $12.00 to $14.00 and gave the company a buy rating in a research report on Thursday, August 11th. FBR & Co restated a buy rating and set a $13.00 price target on shares of Ares Commercial Real Estate Corp. in a research report on Wednesday, September 14th. Bank of America Corp. restated a buy rating on shares of Ares Commercial Real Estate Corp. in a research report on Thursday, June 30th. Finally, Keefe, Bruyette & Woods raised their price target on Ares Commercial Real Estate Corp. from $12.00 to $13.00 and gave the company a market perform rating in a research report on Friday, August 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $13.17.

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

Shares of Ares Commercial Real Estate Corp. (NYSE:ACRE) traded down 0.2531% during trading on Thursday, reaching $12.7277. The company’s stock had a trading volume of 28,715 shares. Ares Commercial Real Estate Corp. has a 12-month low of $8.91 and a 12-month high of $13.07. The stock’s 50-day moving average is $12.57 and its 200-day moving average is $12.18. The stock has a market cap of $361.71 million, a P/E ratio of 11.3539 and a beta of 0.82.

Ares Commercial Real Estate Corp. (NYSE:ACRE) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The company earned $10.51 million during the quarter, compared to analyst estimates of $20.10 million. Ares Commercial Real Estate Corp. had a return on equity of 6.33% and a net margin of 40.58%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. Equities research analysts anticipate that Ares Commercial Real Estate Corp. will post $1.13 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a $0.26 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 8.15%. Ares Commercial Real Estate Corp.’s dividend payout ratio is currently 92.04%.

In other news, CEO Robert L. Rosen acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was bought at an average cost of $12.35 per share, for a total transaction of $123,500.00. Following the acquisition, the chief executive officer now directly owns 50,013 shares in the company, valued at $617,660.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Caroline Blakely sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $12.46, for a total transaction of $39,872.00. Following the completion of the transaction, the director now owns 15,069 shares of the company’s stock, valued at $187,759.74. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in ACRE. Telemus Capital LLC raised its stake in shares of Ares Commercial Real Estate Corp. by 70.6% in the third quarter. Telemus Capital LLC now owns 221,325 shares of the company’s stock worth $2,789,000 after buying an additional 91,589 shares in the last quarter. Relative Value Partners Group LLC raised its stake in shares of Ares Commercial Real Estate Corp. by 19.7% in the second quarter. Relative Value Partners Group LLC now owns 143,516 shares of the company’s stock worth $1,764,000 after buying an additional 23,646 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Ares Commercial Real Estate Corp. by 125.3% in the second quarter. Panagora Asset Management Inc. now owns 9,593 shares of the company’s stock worth $118,000 after buying an additional 5,336 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Ares Commercial Real Estate Corp. by 11.7% in the second quarter. Parametric Portfolio Associates LLC now owns 95,885 shares of the company’s stock worth $1,178,000 after buying an additional 10,056 shares in the last quarter. Finally, Menta Capital LLC raised its stake in shares of Ares Commercial Real Estate Corp. by 39.4% in the second quarter. Menta Capital LLC now owns 20,571 shares of the company’s stock worth $253,000 after buying an additional 5,809 shares in the last quarter. Institutional investors own 65.92% of the company’s stock.

Ares Commercial Real Estate Corp. Company Profile

Ares Commercial Real Estate Corporation is a specialty finance company. The Company is focused on directly originating, managing and servicing a portfolio of commercial real estate (CRE) debt-related investments for its own account. It operates in two segments: principal lending and mortgage banking.

5 Day Chart for NYSE:ACRE

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