Zacks Investment Research upgraded shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) from a sell rating to a hold rating in a research report sent to investors on Monday morning. They currently have $14.00 target price on the real estate investment trust’s 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 analysts have also recently issued reports on ACRE. B. Riley reissued a buy rating on shares of Ares Commercial Real Estate Corporation in a research report on Thursday, November 2nd. BidaskClub upgraded shares of Ares Commercial Real Estate Corporation from a sell rating to a hold rating in a research note on Saturday, September 23rd. Keefe, Bruyette & Woods set a $14.00 target price on shares of Ares Commercial Real Estate Corporation and gave the stock a hold rating in a research note on Thursday, August 17th. Credit Suisse Group reiterated a hold rating on shares of Ares Commercial Real Estate Corporation in a research note on Friday, August 4th. Finally, JMP Securities raised their target price on shares of Ares Commercial Real Estate Corporation to $14.00 and gave the stock a market outperform rating in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Ares Commercial Real Estate Corporation currently has a consensus rating of Hold and a consensus price target of $14.31.

Shares of Ares Commercial Real Estate Corporation (ACRE) traded up $0.03 during midday trading on Monday, reaching $12.96. 119,366 shares of the company traded hands, compared to its average volume of 109,448. The stock has a market cap of $369.95, a price-to-earnings ratio of 11.24, a PEG ratio of 1.68 and a beta of 0.68. Ares Commercial Real Estate Corporation has a 12 month low of $12.48 and a 12 month high of $14.39.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.11. The business had revenue of $28.55 million during the quarter, compared to analyst estimates of $11.71 million. Ares Commercial Real Estate Corporation had a net margin of 33.69% and a return on equity of 7.76%. During the same quarter in the prior year, the firm earned $0.31 earnings per share. sell-side analysts anticipate that Ares Commercial Real Estate Corporation will post 1.1 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 8.33%. The ex-dividend date of this dividend is Thursday, December 28th. Ares Commercial Real Estate Corporation’s dividend payout ratio is currently 95.58%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Ares Commercial Real Estate Corporation in the 3rd quarter valued at approximately $103,000. Edge Wealth Management LLC raised its position in shares of Ares Commercial Real Estate Corporation by 900.0% in the 2nd quarter. Edge Wealth Management LLC now owns 10,000 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 9,000 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of Ares Commercial Real Estate Corporation by 1.5% in the 1st quarter. Tudor Investment Corp ET AL now owns 10,705 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 158 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Ares Commercial Real Estate Corporation by 32.1% in the 2nd quarter. Citadel Advisors LLC now owns 16,324 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 3,966 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Ares Commercial Real Estate Corporation by 5.3% in the 2nd quarter. Nationwide Fund Advisors now owns 16,686 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 839 shares in the last quarter. 64.17% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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