Ares Commercial Real Estate (NYSE:ACRE) Rating Increased to Hold at Zacks Investment Research

Ares Commercial Real Estate (NYSE:ACRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, 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. “

ACRE stock traded up $0.15 during mid-day trading on Tuesday, hitting $15.48. 194,444 shares of the stock were exchanged, compared to its average volume of 182,425. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.12 and a quick ratio of 0.12. The business has a fifty day moving average price of $15.40 and a 200 day moving average price of $15.21. Ares Commercial Real Estate has a 12 month low of $12.75 and a 12 month high of $15.84. The stock has a market capitalization of $442.58 million, a price-to-earnings ratio of 11.14 and a beta of 0.58.

Hedge funds have recently bought and sold shares of the business. Bank of Montreal Can bought a new stake in shares of Ares Commercial Real Estate in the 2nd quarter valued at about $33,000. US Bancorp DE raised its holdings in Ares Commercial Real Estate by 1,130.3% during the 2nd quarter. US Bancorp DE now owns 7,111 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 6,533 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Ares Commercial Real Estate in the second quarter worth about $184,000. Orinda Asset Management LLC bought a new stake in shares of Ares Commercial Real Estate in the 2nd quarter worth approximately $193,000. Finally, Voloridge Investment Management LLC bought a new stake in Ares Commercial Real Estate in the second quarter valued at $205,000. 62.90% of the stock is currently owned by hedge funds and other institutional investors.

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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