In a report issued on June 22, Stephen Laws from Raymond James maintained a Buy rating on Ares Commercial (ACRE), with a price target of $11.00. The company’s shares closed last Thursday at $11.80.
According to TipRanks.com, Laws is a 5-star analyst with an average return of 11.7% and a 68.1% success rate. Laws covers the Financial sector, focusing on stocks such as NexPoint Real Estate ate Finance, Colony Credit Real Estate, and Broadmark Realty Capital.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ares Commercial with a $11.50 average price target, which is a -2.4% downside from current levels. In a report issued on June 29, KBW also upgraded the stock to Buy with a $10.50 price target.
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The company has a one-year high of $17.72 and a one-year low of $2.78. Currently, Ares Commercial has an average volume of 478.1K.
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Ares Commercial Real Estate Corp. engages in originating and investing in commercial real estate loans and related investments. The Company’s investments include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other commercial real estate investments, including commercial mortgage backed securities, which are secured, directly or indirectly, by office, multifamily, retail, industrial, lodging, senior-living, self storage, student housing and other commercial real estate properties, or by ownership interests. Ares Commercial Real Estate was founded in September 2011 and is headquartered in New York, NY.
