Ares Commercial Real Estate (NYSE:ACRE) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Ares Commercial Real Estate (NYSE:ACRE) had its price target upped by Keefe, Bruyette & Woods from $4.50 to $4.75 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 3.36% from the company’s previous close.

ACRE has been the subject of several other research reports. Zacks Research upgraded Ares Commercial Real Estate to a “hold” rating in a research note on Monday, August 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Ares Commercial Real Estate in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 9th. Finally, UBS Group cut their target price on shares of Ares Commercial Real Estate from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $4.92.

Ares Commercial Real Estate Stock Up 0.1%

NYSE:ACRE opened at $4.92 on Tuesday. The company’s 50 day moving average is $4.68 and its 200-day moving average is $4.65. Ares Commercial Real Estate has a 12 month low of $3.35 and a 12 month high of $7.49. The firm has a market cap of $270.35 million, a price-to-earnings ratio of -14.46 and a beta of 1.34.

Ares Commercial Real Estate (NYSE:ACRE) last posted its earnings results on Friday, November 7th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.17. The business had revenue of $5.63 million for the quarter, compared to analyst estimates of $11.35 million. Ares Commercial Real Estate had a negative net margin of 29.57% and a negative return on equity of 5.44%. Research analysts predict that Ares Commercial Real Estate will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Ares Commercial Real Estate

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC grew its position in Ares Commercial Real Estate by 94.3% during the 2nd quarter. CWM LLC now owns 6,997 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 3,396 shares during the last quarter. Strs Ohio acquired a new position in Ares Commercial Real Estate in the first quarter worth $47,000. State of Wyoming bought a new stake in shares of Ares Commercial Real Estate during the second quarter worth $59,000. Corient Private Wealth LLC acquired a new stake in shares of Ares Commercial Real Estate in the second quarter valued at $66,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Ares Commercial Real Estate in the first quarter valued at $92,000. 41.34% of the stock is owned by institutional investors.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. The company originates senior mortgage loans, subordinate debt and preferred equity products, mezzanine loans, and other CRE investments, including commercial mortgage-backed securities.