Ares Commercial Real Estate Corp (NYSE:ACRE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $14.78 and last traded at $14.74, with a volume of 18790 shares. The stock had previously closed at $14.03.
ACRE has been the subject of a number of recent research reports. Zacks Investment Research raised Ares Commercial Real Estate from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, November 1st. JPMorgan Chase & Co. boosted their target price on Ares Commercial Real Estate from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, October 24th. Finally, Raymond James raised Ares Commercial Real Estate from an “outperform” rating to a “strong-buy” rating in a research note on Friday, January 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $14.83.
Get Ares Commercial Real Estate alerts:The company has a market cap of $402.66 million, a price-to-earnings ratio of 13.30 and a beta of 0.59.
In related news, insider James Alan Henderson sold 13,618 shares of the business’s stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $14.23, for a total transaction of $193,784.14. Following the transaction, the insider now owns 108,092 shares in the company, valued at approximately $1,538,149.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.03% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its holdings in Ares Commercial Real Estate by 386.6% during the 4th quarter. Meeder Asset Management Inc. now owns 3,917 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 3,112 shares during the period. Advisor Group Inc. purchased a new position in Ares Commercial Real Estate during the 4th quarter valued at about $69,000. Metropolitan Life Insurance Co. NY increased its holdings in Ares Commercial Real Estate by 431.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,614 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 7,805 shares during the period. SG Americas Securities LLC grew its holdings in shares of Ares Commercial Real Estate by 50.0% during the 3rd quarter. SG Americas Securities LLC now owns 10,903 shares of the real estate investment trust’s stock worth $152,000 after acquiring an additional 3,634 shares during the period. Finally, LPL Financial LLC purchased a new position in shares of Ares Commercial Real Estate during the 4th quarter worth approximately $143,000. Institutional investors own 63.26% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece of content was posted by Ticker Report and is the property of of Ticker Report. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/4169415/ares-commercial-real-estate-acre-reaches-new-52-week-high-at-14-78.html.
Ares Commercial Real Estate Company Profile (NYSE:ACRE)
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, mezzanine loans, real estate preferred equity investments, and other CRE investments.
Featured Story: Google Finance
No comments:
Post a Comment