Ares Commercial Real Estate (NYSE:ACRE) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Ares Commercial Real Estate (NYSE:ACRE) from a sell rating to a strong-buy rating in a report released on Monday morning, Zacks.com reports. They currently have $10.00 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. “

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Ares Commercial Real Estate from $16.00 to $16.50 and gave the stock a neutral rating in a report on Tuesday, February 25th. ValuEngine upgraded shares of Ares Commercial Real Estate from a strong sell rating to a sell rating in a report on Wednesday, April 8th. Credit Suisse Group lowered their price objective on shares of Ares Commercial Real Estate from $17.50 to $9.00 and set an outperform rating for the company in a report on Monday, April 27th. Raymond James lowered their price target on shares of Ares Commercial Real Estate from $16.00 to $11.00 and set a strong-buy rating for the company in a report on Monday, April 13th. Finally, JMP Securities lowered their price target on shares of Ares Commercial Real Estate from $16.00 to $10.00 and set a market outperform rating for the company in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $11.30.

Shares of ACRE traded up $0.11 during mid-day trading on Monday, reaching $9.18. The company’s stock had a trading volume of 532,086 shares, compared to its average volume of 647,259. The stock has a market cap of $303.30 million, a PE ratio of 20.82 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 3.31. Ares Commercial Real Estate has a 52 week low of $2.78 and a 52 week high of $17.72. The company’s fifty day moving average price is $7.97 and its two-hundred day moving average price is $12.00.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Ares Commercial Real Estate by 9.5% during the 1st quarter. BlackRock Inc. now owns 3,308,479 shares of the real estate investment trust’s stock valued at $23,127,000 after buying an additional 288,237 shares during the last quarter. State Street Corp increased its position in Ares Commercial Real Estate by 6.9% during the 1st quarter. State Street Corp now owns 895,706 shares of the real estate investment trust’s stock valued at $6,512,000 after purchasing an additional 57,555 shares during the period. Wolverine Asset Management LLC purchased a new position in Ares Commercial Real Estate during the 1st quarter valued at $5,944,000. Geode Capital Management LLC increased its position in Ares Commercial Real Estate by 26.5% during the 1st quarter. Geode Capital Management LLC now owns 455,087 shares of the real estate investment trust’s stock valued at $3,181,000 after purchasing an additional 95,216 shares during the period. Finally, Greenwich Investment Management Inc. increased its position in Ares Commercial Real Estate by 41.0% during the 1st quarter. Greenwich Investment Management Inc. now owns 335,648 shares of the real estate investment trust’s stock valued at $2,346,000 after purchasing an additional 97,595 shares during the period. Institutional investors own 62.82% 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 loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, real estate preferred equity investments, mezzanine loans, and other CRE investments.

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