Keefe Bruyette & Woods Maintains Ares Commercial Real Estate Corp to Market Perform with Price Target $13.00

Brokerage firm Keefe Bruyette & Woods Maintains its rating on Ares Commercial Real Estate Corp(NYSE:ACRE). In a research note issued to the investors, the brokerage major Raises the price-target to $13.00 per share. The shares have been rated Market Perform. The rating by Keefe Bruyette & Woods was issued on Aug 5, 2016.

Ares Commercial Real Estate Corp (ACRE) made into the market gainers list on Wednesdays trading session with the shares advancing 0.24% or 0.03 points. Due to strong positive momentum, the stock ended at $12.47, which is also near the day’s high of $12.53. The stock began the session at $12.47 and the volume stood at 83,499 shares. The 52-week high of the shares is $13.18 and the 52 week low is $8.91. The company has a current market capitalization of $356 M and it has 2,85,13,137 shares in outstanding.

Ares Commercial Real Estate Corp(ACRE) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $10.54M. Analysts had an estimated revenue of $20.10M. Earnings per share were $0.21. Analysts had estimated an EPS of $0.27.

Several Insider Transactions has been reported to the SEC. On May 13, 2015, Todd Schuster (CEO) purchased 12,500 shares at $11.60 per share price.

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.

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