Ares Commercial Real Estate (NYSE:ACRE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Ares Commercial Real Estate (NYSE:ACRE) from a buy rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.

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. “

Several other equities analysts also recently weighed in on the stock. JMP Securities raised their target price on shares of Ares Commercial Real Estate from $16.50 to $17.00 and gave the company a market outperform rating in a report on Thursday, November 4th. BTIG Research restated a buy rating and set a $16.50 target price on shares of Ares Commercial Real Estate in a report on Friday, November 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ares Commercial Real Estate currently has an average rating of Buy and an average price target of $16.25.

Shares of ACRE opened at $14.72 on Tuesday. The company has a 50-day simple moving average of $15.55 and a 200-day simple moving average of $15.38. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $691.87 million, a PE ratio of 9.68 and a beta of 1.30. Ares Commercial Real Estate has a 52-week low of $11.08 and a 52-week high of $16.98.

Ares Commercial Real Estate (NYSE:ACRE) last posted its earnings results on Wednesday, November 3rd. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Ares Commercial Real Estate had a net margin of 61.95% and a return on equity of 9.74%. During the same quarter in the prior year, the company posted $0.30 earnings per share. On average, research analysts anticipate that Ares Commercial Real Estate will post 1.47 EPS for the current year.

The company also recently declared a Not Available dividend, which will be paid on Wednesday, January 19th. Shareholders of record on Friday, December 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, December 30th. This represents a dividend yield of 8.6%. Ares Commercial Real Estate’s dividend payout ratio is currently 86.84%.

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of Ares Commercial Real Estate by 24.0% in the second quarter. JPMorgan Chase & Co. now owns 880,165 shares of the real estate investment trust’s stock worth $12,929,000 after acquiring an additional 170,481 shares during the last quarter. Swiss National Bank boosted its position in shares of Ares Commercial Real Estate by 3.8% in the second quarter. Swiss National Bank now owns 98,400 shares of the real estate investment trust’s stock worth $1,445,000 after acquiring an additional 3,600 shares during the last quarter. Arkadios Wealth Advisors boosted its position in shares of Ares Commercial Real Estate by 399.7% in the second quarter. Arkadios Wealth Advisors now owns 26,375 shares of the real estate investment trust’s stock worth $387,000 after acquiring an additional 21,097 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in shares of Ares Commercial Real Estate by 11.9% in the second quarter. Arete Wealth Advisors LLC now owns 22,649 shares of the real estate investment trust’s stock worth $333,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Ares Commercial Real Estate by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 157,831 shares of the real estate investment trust’s stock worth $2,319,000 after acquiring an additional 1,853 shares during the last quarter. 56.03% of the stock is currently owned by institutional investors.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corp. engages in originating and investing in commercial real estate loans and related investments. The Company’s investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other commercial real estate investments, including commercial mortgage backed securities, which are secured, directly or indirectly, by office, multifamily, retail, industrial, lodging, senior-living, self storage, student housing and other commercial real estate properties, or by ownership interests.

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