Trade Report: Today, FBR & Co Raises Ares Commercial Real Estate Corp. (ACRE) Price Target to $14.75

Today, FBR & Co Raises Ares Commercial Real Estate Corp. (ACRE) Price Target to $14.75

Ares Commercial Real Estate Corp. (NYSE:ACRE) had its target price increased by FBR & Co from $14.00 to $14.75 in a research note published on Tuesday morning. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Citigroup Inc. boosted their target price on shares of Ares Commercial Real Estate Corp. from $12.00 to $14.00 and gave the stock a buy rating in a report on Thursday, August 11th. JPMorgan Chase & Co. reiterated a buy rating and issued a $14.00 target price on shares of Ares Commercial Real Estate Corp. in a report on Friday, November 4th. Zacks Investment Research upgraded shares of Ares Commercial Real Estate Corp. from a hold rating to a buy rating and set a $14.00 target price for the company in a report on Thursday, October 13th. Credit Suisse Group AG reiterated a hold rating and issued a $13.00 target price on shares of Ares Commercial Real Estate Corp. in a report on Friday, September 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ares Commercial Real Estate Corp. from $12.00 to $13.00 and gave the stock a market perform rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Ares Commercial Real Estate Corp. presently has an average rating of Buy and an average price target of $13.54.

Ares Commercial Real Estate Corp. (NYSE:ACRE) opened at 13.45 on Tuesday. The company has a market cap of $382.69 million, a PE ratio of 9.31 and a beta of 0.78. Ares Commercial Real Estate Corp. has a 52 week low of $8.91 and a 52 week high of $13.80. The stock has a 50 day moving average of $13.01 and a 200 day moving average of $12.53.

Ares Commercial Real Estate Corp. (NYSE:ACRE) last announced its earnings results on Thursday, November 3rd. The company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. Ares Commercial Real Estate Corp. had a return on equity of 6.34% and a net margin of 54.20%. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities research analysts predict that Ares Commercial Real Estate Corp. will post $1.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.04 dividend on an annualized basis and a yield of 7.73%. Ares Commercial Real Estate Corp.’s dividend payout ratio is currently 71.72%.

In other news, CEO Robert L. Rosen bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were purchased at an average price of $12.35 per share, for a total transaction of $123,500.00. Following the completion of the transaction, the chief executive officer now directly owns 50,013 shares in the company, valued at $617,660.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. GSA Capital Partners LLP raised its stake in shares of Ares Commercial Real Estate Corp. by 164.5% in the second quarter. GSA Capital Partners LLP now owns 198,066 shares of the company’s stock worth $2,434,000 after buying an additional 123,180 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Ares Commercial Real Estate Corp. by 135.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 113,957 shares of the company’s stock worth $1,401,000 after buying an additional 65,595 shares in the last quarter. California Public Employees Retirement System purchased a new stake in shares of Ares Commercial Real Estate Corp. during the second quarter worth approximately $322,000. Emerald Acquisition Ltd. purchased a new stake in shares of Ares Commercial Real Estate Corp. during the second quarter worth approximately $2,742,000. Finally, Suntrust Banks Inc. raised its stake in shares of Ares Commercial Real Estate Corp. by 1.8% in the second quarter. Suntrust Banks Inc. now owns 14,747 shares of the company’s stock worth $180,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 68.37% of the company’s stock.

Ares Commercial Real Estate Corp. Company Profile

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