Ares Commercial Real Estate (NYSE:ACRE) Stock Rating Upgraded by Wall Street Zen

Ares Commercial Real Estate (NYSE:ACRE) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other equities analysts have also recently issued reports on the company. UBS Group began coverage on Ares Commercial Real Estate in a research report on Tuesday, June 2nd. They set a “neutral” rating and a $5.50 target price on the stock. Zacks Research raised Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods decreased their price target on Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. JPMorgan Chase & Co. dropped their price objective on Ares Commercial Real Estate from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Ares Commercial Real Estate in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $5.25.

Ares Commercial Real Estate Stock Performance

ACRE stock opened at $4.55 on Friday. The stock has a market capitalization of $252.71 million, a PE ratio of -12.65 and a beta of 1.15. The company has a fifty day moving average of $4.68 and a 200-day moving average of $4.91. Ares Commercial Real Estate has a one year low of $4.05 and a one year high of $5.89.

Ares Commercial Real Estate (NYSE:ACRE) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $13.46 million for the quarter, compared to analyst estimates of $11.63 million. Ares Commercial Real Estate had a negative return on equity of 2.80% and a negative net margin of 37.21%. Equities analysts forecast that Ares Commercial Real Estate will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ares Commercial Real Estate

Several institutional investors have recently modified their holdings of the company. Alpine Global Management LLC boosted its position in Ares Commercial Real Estate by 27.8% during the fourth quarter. Alpine Global Management LLC now owns 759,110 shares of the real estate investment trust’s stock worth $3,629,000 after purchasing an additional 165,193 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Ares Commercial Real Estate in the fourth quarter valued at $64,000. Russell Investments Group Ltd. raised its stake in shares of Ares Commercial Real Estate by 102.1% during the 4th quarter. Russell Investments Group Ltd. now owns 12,194 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 6,161 shares during the last quarter. Triumph Capital Management acquired a new position in shares of Ares Commercial Real Estate during the 3rd quarter worth $38,000. Finally, Quantinno Capital Management LP boosted its position in shares of Ares Commercial Real Estate by 5.7% in the 1st quarter. Quantinno Capital Management LP now owns 167,990 shares of the real estate investment trust’s stock worth $806,000 after buying an additional 9,018 shares in the last quarter. Hedge funds and other institutional investors own 41.34% of the company’s stock.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.