Zacks Investment Research Upgrades Ares Commercial Real Estate (NYSE:ACRE) to Hold

Zacks Investment Research upgraded shares of Ares Commercial Real Estate (NYSE:ACRE) from a sell rating to a hold rating in a research note released on Monday 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. “

Separately, ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $15.20.

Shares of Ares Commercial Real Estate stock opened at $15.15 on Monday. The company has a market cap of $434.19 million, a price-to-earnings ratio of 10.98 and a beta of 0.59. The firm has a fifty day simple moving average of $14.98. Ares Commercial Real Estate has a 52-week low of $12.75 and a 52-week high of $15.53.

Ares Commercial Real Estate (NYSE:ACRE) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). The business had revenue of $27.99 million during the quarter. Ares Commercial Real Estate had a net margin of 31.83% and a return on equity of 9.19%. As a group, analysts expect that Ares Commercial Real Estate will post 1.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Friday, June 28th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 8.71%. The ex-dividend date is Thursday, June 27th. Ares Commercial Real Estate’s payout ratio is 94.96%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its position in Ares Commercial Real Estate by 41.4% in the fourth quarter. Rhumbline Advisers now owns 37,833 shares of the real estate investment trust’s stock valued at $493,000 after purchasing an additional 11,073 shares during the period. First Trust Advisors LP grew its stake in shares of Ares Commercial Real Estate by 18.7% in the fourth quarter. First Trust Advisors LP now owns 47,593 shares of the real estate investment trust’s stock worth $621,000 after acquiring an additional 7,491 shares in the last quarter. LPL Financial LLC acquired a new position in shares of Ares Commercial Real Estate in the fourth quarter worth $143,000. Bank of New York Mellon Corp grew its stake in shares of Ares Commercial Real Estate by 2.9% in the fourth quarter. Bank of New York Mellon Corp now owns 139,779 shares of the real estate investment trust’s stock worth $1,823,000 after acquiring an additional 3,970 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Ares Commercial Real Estate in the fourth quarter worth $334,000. 67.21% of the stock is currently owned by institutional investors and hedge funds.

About Ares Commercial Real Estate

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, real estate preferred equity investments, mezzanine loans, and other CRE investments.

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