Ares Commercial Real Estate (NYSE:ACRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $16.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.88% from the stock’s previous close.

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 research analysts have also recently issued reports on ACRE. JPMorgan Chase & Co. cut Ares Commercial Real Estate from an “overweight” rating to a “neutral” rating in a report on Monday, July 23rd. ValuEngine cut Ares Commercial Real Estate from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Credit Suisse Group raised their price objective on Ares Commercial Real Estate from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Tuesday, August 21st. Raymond James initiated coverage on Ares Commercial Real Estate in a report on Monday, July 23rd. They set an “outperform” rating on the stock. Finally, JMP Securities raised their price objective on Ares Commercial Real Estate from $14.50 to $15.00 and gave the stock a “market outperform” rating in a report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.70.

NYSE:ACRE traded down $0.08 during trading hours on Wednesday, reaching $14.05. 4,801 shares of the company traded hands, compared to its average volume of 97,167. The stock has a market cap of $404.65 million, a PE ratio of 12.66 and a beta of 0.54. Ares Commercial Real Estate has a 1-year low of $11.96 and a 1-year high of $14.77.

Ares Commercial Real Estate (NYSE:ACRE) last announced its earnings results on Thursday, July 26th. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $29.60 million for the quarter, compared to analysts’ expectations of $27.30 million. Ares Commercial Real Estate had a return on equity of 8.85% and a net margin of 32.36%. equities analysts anticipate that Ares Commercial Real Estate will post 1.32 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Ares Commercial Real Estate by 3.2% in the 2nd quarter. BlackRock Inc. now owns 2,557,943 shares of the real estate investment trust’s stock worth $35,325,000 after buying an additional 79,639 shares during the period. Boston Partners raised its position in shares of Ares Commercial Real Estate by 2.0% in the 2nd quarter. Boston Partners now owns 2,330,287 shares of the real estate investment trust’s stock worth $32,181,000 after buying an additional 45,603 shares during the period. Telemus Capital LLC raised its position in shares of Ares Commercial Real Estate by 5.2% in the 2nd quarter. Telemus Capital LLC now owns 582,995 shares of the real estate investment trust’s stock worth $8,051,000 after buying an additional 28,870 shares during the period. Acadian Asset Management LLC raised its position in shares of Ares Commercial Real Estate by 194.6% in the 2nd quarter. Acadian Asset Management LLC now owns 450,087 shares of the real estate investment trust’s stock worth $6,217,000 after buying an additional 297,287 shares during the period. Finally, Northern Trust Corp raised its position in shares of Ares Commercial Real Estate by 3.2% in the 2nd quarter. Northern Trust Corp now owns 315,564 shares of the real estate investment trust’s stock worth $4,357,000 after buying an additional 9,896 shares during the period. Institutional investors and hedge funds own 62.75% of the company’s stock.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments.

Featured Story: Technical Analysis of Stocks and What It Means

Get a free copy of the Zacks research report on Ares Commercial Real Estate (ACRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Ares Commercial Real Estate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Commercial Real Estate and related companies with MarketBeat.com's FREE daily email newsletter.