Ares Commercial Real Estate (NYSE:ACRE) Upgraded at Wall Street Zen

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

A number of other research analysts have also recently weighed in on ACRE. UBS Group assumed coverage on shares of Ares Commercial Real Estate in a research report on Tuesday, June 2nd. They set a “neutral” rating and a $5.50 price objective on the stock. Zacks Research raised shares of Ares Commercial Real Estate from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Citizens Jmp reissued a “market perform” rating on shares of Ares Commercial Real Estate in a research report on Thursday, July 9th. JPMorgan Chase & Co. decreased their price objective on shares of Ares Commercial Real Estate from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ares Commercial Real Estate in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Ares Commercial Real Estate currently has an average rating of “Reduce” and a consensus price target of $5.25.

Ares Commercial Real Estate Price Performance

NYSE:ACRE opened at $4.55 on Friday. The firm has a market capitalization of $252.71 million, a price-to-earnings ratio of -12.65 and a beta of 1.15. Ares Commercial Real Estate has a 1 year low of $4.05 and a 1 year high of $5.89. The business has a 50 day simple moving average of $4.68 and a 200-day simple moving average of $4.91.

Ares Commercial Real Estate (NYSE:ACRE) last released its earnings results on Thursday, May 7th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). The company had revenue of $13.46 million for the quarter, compared to the consensus estimate of $11.63 million. Ares Commercial Real Estate had a negative net margin of 37.21% and a negative return on equity of 2.80%. As a group, analysts expect 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 large investors have recently added to or reduced their stakes in ACRE. Russell Investments Group Ltd. raised its stake in shares of Ares Commercial Real Estate by 456.0% during the third quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 4,948 shares in the last quarter. Optiver Holding B.V. increased its holdings in Ares Commercial Real Estate by 603.3% during the 1st quarter. Optiver Holding B.V. now owns 6,513 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 5,587 shares during the period. Triumph Capital Management purchased a new position in Ares Commercial Real Estate during the 3rd quarter worth $38,000. BNP Paribas Financial Markets raised its position in Ares Commercial Real Estate by 100.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,367 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 5,192 shares in the last quarter. Finally, Strs Ohio bought a new stake in Ares Commercial Real Estate during the 1st quarter valued at $47,000. 41.34% of the stock is owned by hedge funds and other institutional investors.

Ares Commercial Real Estate Company Profile

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.