Zacks Investment Research upgraded shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) from a hold rating to a buy rating in a research note issued to investors on Wednesday. They currently have $15.00 price objective on the real estate investment trust’s stock.

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. “

Separately, Keefe, Bruyette & Woods reissued a hold rating and issued a $13.75 price target on shares of Ares Commercial Real Estate Corporation in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Ares Commercial Real Estate Corporation presently has a consensus rating of Hold and an average price target of $14.08.

Shares of Ares Commercial Real Estate Corporation (NYSE ACRE) opened at 12.93 on Wednesday. The company has a 50-day moving average price of $13.20 and a 200-day moving average price of $13.36. The company has a market capitalization of $368.10 million, a price-to-earnings ratio of 8.83 and a beta of 0.69. Ares Commercial Real Estate Corporation has a 12 month low of $12.13 and a 12 month high of $14.39.

Ares Commercial Real Estate Corporation (NYSE:ACRE) last released its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.02. Ares Commercial Real Estate Corporation had a return on equity of 6.74% and a net margin of 49.39%. The company had revenue of $21.13 million during the quarter, compared to the consensus estimate of $11.81 million. During the same period in the previous year, the company earned $0.18 earnings per share. On average, equities analysts anticipate that Ares Commercial Real Estate Corporation will post $1.07 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 8.35%. The ex-dividend date was Wednesday, June 28th. Ares Commercial Real Estate Corporation’s dividend payout ratio is 73.47%.

In other Ares Commercial Real Estate Corporation news, Director James E. Skinner bought 3,860 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was acquired at an average price of $12.95 per share, with a total value of $49,987.00. Following the completion of the purchase, the director now owns 17,756 shares of the company’s stock, valued at $229,940.20. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Arougheti bought 30,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were acquired at an average cost of $13.16 per share, with a total value of $394,800.00. Following the purchase, the director now directly owns 342,498 shares of the company’s stock, valued at approximately $4,507,273.68. The disclosure for this purchase can be found here. Insiders have acquired 63,582 shares of company stock valued at $835,517 in the last ninety days. Insiders own 1.75% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Edge Wealth Management LLC increased its position in shares of Ares Commercial Real Estate Corporation by 900.0% in the second quarter. Edge Wealth Management LLC now owns 10,000 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 9,000 shares in the last quarter. Tudor Investment Corp ET AL increased its position in shares of Ares Commercial Real Estate Corporation by 1.5% in the first quarter. Tudor Investment Corp ET AL now owns 10,705 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 158 shares in the last quarter. Hancock Holding Co. increased its position in shares of Ares Commercial Real Estate Corporation by 26.0% in the first quarter. Hancock Holding Co. now owns 13,162 shares of the real estate investment trust’s stock worth $176,000 after buying an additional 2,713 shares in the last quarter. ClariVest Asset Management LLC increased its position in shares of Ares Commercial Real Estate Corporation by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 15,494 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 791 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Ares Commercial Real Estate Corporation by 6.9% in the first quarter. American International Group Inc. now owns 16,512 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 1,060 shares in the last quarter. 68.14% of the stock is owned by institutional investors and hedge funds.

About Ares Commercial Real Estate Corporation

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.

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Analyst Recommendations for Ares Commercial Real Estate Corporation (NYSE:ACRE)

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