A statement released earlier today by Zacks Investment Research about Ares Commercial Real Estate Corp (NYSE:ACRE) ups the target price to $14.00
- Updated: October 13, 2016
Having a price of $12.45, Ares Commercial Real Estate Corp (NYSE:ACRE) traded 0.00% even on the day. With the last close up 4.76% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same period. Ares Commercial Real Estate Corp has recorded a 50-day average of $12.57 and a 200-day moving average of $12.18. 98,757 shares of the stock traded hands, down from an average trading volume of 156,832
In a report issued Thursday October 13, 2016 Zacks Investment Research raised the target price of Ares Commercial Real Estate Corp (NYSE:ACRE) to $14.00 reporting a potential upside of 0.12%.
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Ares Commercial Real Estate Corp has a 52 week low of $8.91 and a 52 week high of $13.07 with a PE ratio of 11.38 Ares Commercial Real Estate Corp’s market capitalization is currently $0.
About Ares Commercial Real Estate Corp (NYSE:ACRE)
Ares Commercial Real Estate Corporation is a specialty finance company. The Company is focused on directly originating, managing and servicing a portfolio of commercial real estate (CRE) debt-related investments for its own account. It operates in two segments: principal lending and mortgage banking. Its target investments include senior loans, bridge loans, subordinated debt, preferred equity and other CRE investments. The Company is also engaged in the mortgage banking business through its subsidiary, ACRE Capital LLC (ACRE Capital). Its Principal Lending Business includes all business activities of the Company, which represents investments in real estate related loans and securities that are held for investment. In mortgage banking business, the Company directly originates long-term senior loans collateralized by multifamily and senior-living properties, and sells them to third parties pursuant to programs overseen by government agencies and government-sponsored enterprises.
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