Citizens Jmp Reiterates Market Perform Rating for Ares Commercial Real Estate (NYSE:ACRE)

Ares Commercial Real Estate (NYSE:ACRE)‘s stock had its “market perform” rating reissued by investment analysts at Citizens Jmp in a report issued on Thursday,Benzinga reports.

ACRE has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their price objective on Ares Commercial Real Estate from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Thursday, April 16th. UBS Group assumed coverage on Ares Commercial Real Estate in a research note on Tuesday, June 2nd. They issued a “neutral” rating and a $5.50 price target for the company. Zacks Research downgraded Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. Weiss Ratings restated a “sell (d)” rating on shares of Ares Commercial Real Estate in a research note on Monday, May 11th. Finally, Keefe, Bruyette & Woods dropped their price target on Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $5.38.

Ares Commercial Real Estate Stock Up 0.9%

NYSE:ACRE opened at $4.40 on Thursday. Ares Commercial Real Estate has a 52 week low of $4.05 and a 52 week high of $5.89. The firm has a 50 day moving average of $4.80 and a 200 day moving average of $4.95. The stock has a market capitalization of $244.11 million, a price-to-earnings ratio of -12.22 and a beta of 1.15.

Ares Commercial Real Estate (NYSE:ACRE) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). The firm had revenue of $13.46 million during the quarter, compared to analysts’ expectations of $11.63 million. Ares Commercial Real Estate had a negative return on equity of 2.80% and a negative net margin of 37.21%. As a group, analysts expect that Ares Commercial Real Estate will post 0.4 EPS for the current year.

Hedge Funds Weigh In On Ares Commercial Real Estate

A number of hedge funds have recently made changes to their positions in ACRE. Russell Investments Group Ltd. grew its holdings in Ares Commercial Real Estate by 456.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,033 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 4,948 shares in the last quarter. Optiver Holding B.V. increased its stake in Ares Commercial Real Estate by 603.3% during the first quarter. Optiver Holding B.V. now owns 6,513 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 5,587 shares during the last quarter. Triumph Capital Management purchased a new stake in Ares Commercial Real Estate in the third quarter valued at $38,000. BNP Paribas Financial Markets raised its position in Ares Commercial Real Estate by 100.3% in the third 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 during the period. Finally, Strs Ohio acquired a new position in shares of Ares Commercial Real Estate in the 1st quarter valued at $47,000. Institutional investors and hedge funds own 41.34% of the company’s stock.

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.