BidaskClub Downgrades Ares Commercial Real Estate Corporation (ACRE) to Sell

Ares Commercial Real Estate Corporation (NYSE:ACRE) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.

A number of other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $13.75 price objective on shares of Ares Commercial Real Estate Corporation in a research note on Friday, June 9th. Zacks Investment Research raised shares of Ares Commercial Real Estate Corporation from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, July 26th. Credit Suisse Group reissued a “hold” rating on shares of Ares Commercial Real Estate Corporation in a research note on Friday, August 4th. Finally, JMP Securities boosted their price objective on shares of Ares Commercial Real Estate Corporation to $14.00 and gave the stock a “market outperform” rating in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.45.

Ares Commercial Real Estate Corporation (NYSE:ACRE) opened at 13.00 on Thursday. The company has a market cap of $371.24 million, a price-to-earnings ratio of 9.33 and a beta of 0.68. The stock has a 50 day moving average price of $13.13 and a 200 day moving average price of $13.25. Ares Commercial Real Estate Corporation has a 12 month low of $12.24 and a 12 month high of $14.39.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. Ares Commercial Real Estate Corporation had a net margin of 45.06% and a return on equity of 7.07%. The firm had revenue of $10.40 million during the quarter, compared to the consensus estimate of $10.85 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. Analysts anticipate that Ares Commercial Real Estate Corporation will post $1.05 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in ACRE. KAMES CAPITAL plc purchased a new stake in shares of Ares Commercial Real Estate Corporation during the second quarter valued at $3,430,000. Yorktown Management & Research Co Inc purchased a new stake in shares of Ares Commercial Real Estate Corporation during the second quarter valued at $3,011,000. Clough Capital Partners L P grew its holdings in shares of Ares Commercial Real Estate Corporation by 75.8% during the first quarter. Clough Capital Partners L P now owns 349,200 shares of the real estate investment trust’s stock valued at $4,672,000 after buying an additional 150,555 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of Ares Commercial Real Estate Corporation by 155.5% during the second quarter. Thrivent Financial For Lutherans now owns 226,060 shares of the real estate investment trust’s stock valued at $2,959,000 after buying an additional 137,570 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Ares Commercial Real Estate Corporation by 149.3% during the first quarter. Nuveen Asset Management LLC now owns 196,257 shares of the real estate investment trust’s stock valued at $2,626,000 after buying an additional 117,544 shares during the last quarter. 65.15% of the stock is currently owned by hedge funds and other institutional investors.

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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