Wall Street brokerages expect that Ares Commercial Real Estate Corp (NYSE:ACRE) will report $11.35 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ares Commercial Real Estate’s earnings, with estimates ranging from $10.82 million to $11.87 million. Ares Commercial Real Estate reported sales of $23.51 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 51.7%. The firm is expected to announce its next quarterly earnings report on Tuesday, March 6th.
According to Zacks, analysts expect that Ares Commercial Real Estate will report full year sales of $11.35 million for the current fiscal year, with estimates ranging from $46.30 million to $47.35 million. For the next fiscal year, analysts expect that the business will post sales of $50.52 million per share, with estimates ranging from $49.36 million to $51.68 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Ares Commercial Real Estate.
Several research analysts have commented on the company. Zacks Investment Research upgraded Ares Commercial Real Estate from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, February 6th. B. Riley restated a “buy” rating and issued a $14.00 target price on shares of Ares Commercial Real Estate in a research note on Tuesday, January 9th. BidaskClub cut Ares Commercial Real Estate from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 7th. Finally, ValuEngine raised Ares Commercial Real Estate from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Ares Commercial Real Estate presently has a consensus rating of “Hold” and an average target price of $14.13.
Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of Ares Commercial Real Estate in the 3rd quarter valued at about $103,000. Atria Investments LLC purchased a new stake in shares of Ares Commercial Real Estate in the 4th quarter valued at about $132,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ares Commercial Real Estate in the 3rd quarter valued at about $140,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Ares Commercial Real Estate in the 4th quarter valued at about $178,000. Finally, Edge Wealth Management LLC raised its holdings in shares of Ares Commercial Real Estate by 40.0% in the 4th quarter. Edge Wealth Management LLC now owns 14,000 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 4,000 shares in the last quarter. 63.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ares Commercial Real Estate (NYSE ACRE) traded up $0.08 during midday trading on Tuesday, reaching $12.15. The company’s stock had a trading volume of 191,782 shares, compared to its average volume of 140,354. Ares Commercial Real Estate has a fifty-two week low of $11.96 and a fifty-two week high of $14.22. The company has a market cap of $347.37, a P/E ratio of 10.66 and a beta of 0.62.
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Ares Commercial Real Estate Company Profile
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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