Ares Commercial Real Estate Corp (ACRE) was Reiterated by FBR & Co. to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 14.75 from a previous price target of $14 . FBR & Co. advised their investors in a research report released on Nov 22, 2016.
On the company’s financial health, Ares Commercial Real Estate Corp reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.27.Analysts expectations of $ 11.96.During the same quarter in the previous year, the company posted $0.33 EPS.
Ares Commercial Real Estate Corp opened for trading at $13.33 and hit $13.548 on the upside on Monday, eventually ending the session at $13.51, with a gain of 1.73% or 0.23 points. The heightened volatility saw the trading volume jump to 1,73,274 shares. Company has a market cap of $385 M.
In a different news, on Sep 20, 2016, Caroline Blakely (director) sold 3,200 shares at $12.75 per share price. According to the SEC, on Sep 15, 2016, Robert L Rosen (CEO) purchased 10,000 shares at $12.35 per share price. On Aug 29, 2016, James E Skinner (director) purchased 2,000 shares at $12.52 per share price, according to the Form-4 filing with the securities and exchange commission.
Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily focused on directly originating managing and servicing a portfolio of commercial real estate (CRE) debt-related investments for its own account. Its target investments include senior loans bridge loans subordinated debt preferred equity and other CRE investments. Ares Management L.P. is the manager of ACRE. The Company operates in two business segments: principal lending and mortgage banking. In its principal lending business the Company originates invests in manages and services middle-market CRE loans and other CRE-related investments for its own account. In its mortgage banking business conducted through a subsidiary ACRE Capital LLC the Company originates sells and retains servicing of primarily multifamily and other senior-living related CRE loans.