BlackRock Fund Advisors has recently announced that it has increased stake in Ares Commercial Real Estate Corporation (NYSE:ACRE) by 7.54%. After grabbing 3.82 million shares, the institutional investor is now in possession of 0.27 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 7.02% having worth around $47.14 million. Moreover, The Vanguard Group, Inc. increased its share by 0.16 million to have a control over 2.63 million shares. And 1832 Asset Management LP raised its holdings to 0.13 million shares by acquiring 1.58 million shares or 2.90% of the stake.
Ares Commercial Real Estate Corporation (ACRE) concluded trading on 11/23/22 at a closing price of $12.38, with 0.47 million shares of worth about $5.85 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -14.69% during that period and on Wednesday the price saw a gain of about 1.56%. Currently the company’s common shares owned by public are about 54.42M shares, out of which, 51.36M shares are available for trading.
Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $14.00 and could fall to a lowest price of $12.00. The stock’s current price level is 7.34% above of average price target set by the analysts, while a rise to estimated low would result in loss of -3.17% for the stock. However, touching the estimated high of $14.00 would mean a gain of 11.57% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 14 times over the past 12 months. They bought 143,780 shares in 11 of the transactions. In 3 selling transactions, insiders dumped 11,163 shares.
Vanguard Total Stock Market Index, Dynamic Alternative Yield Fund, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Ares Commercial Real Estate Corporation Vanguard Total Stock Market Index is currently holding 1.52 million shares of worth totaling $18.71 million. The company recently came buying 6098.0 shares which brought its stake up to 2.79% of the company’s outstanding shares. Dynamic Alternative Yield Fund bought 0.13 million shares, after which its hold over company’s outstanding shares expand to 2.64%, leaving 1.44 million shares with the mutual fund that have a worth of about $17.71 million. iShares Russell 2000 ETF, after selling 1.12 million shares, have now control over 2.05% of the stake in the company. It holds 20758.0 shares of worth $13.79 million.
Ares Commercial Real Estate Corporation (NYSE: ACRE) started trading at $12.14, below -$0.05 from concluding price of the previous day. However, the stock later moved at a day high price of 12.38, or with a gain of 1.56%. Stock saw a price change of 3.25% in past 5 days and over the past one month there was a price change of 5.09%. Year-to-date (YTD), ACRE shares are showing a performance of -14.46% which decreased to -19.44% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.99 but also hit the highest price of $16.42 during that period. The average intraday trading volume for Ares Commercial Real Estate Corporation shares is 639.06K. The stock is currently trading 2.91% above its 20-day simple moving average (SMA20), while that difference is up 6.30% for SMA50 and it goes to -8.14% lower than SMA200.
BlackRock Fund Advisors acquired 3.82 million shares of Ares Commercial Real Estate Corporation having value of about $47.14 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.27 million shares in the company valued at close to $3316168.7, or have control over 7.54% stake in the company. Ares Commercial Real Estate Corporation (NYSE: ACRE) currently have 54.42M outstanding shares and institutions hold larger chunk of about 47.50% of that. Holding of mutual funds in the company is about 24.23% while other institutional holders and individual stake holders have control over 6.10% and 23.15% of the stake respectively.
The stock has a current market capitalization of $671.12M and its 3Y-monthly beta is at 1.35. PE ratio of stock for trailing 12 months is 13.59, while it has posted earnings per share of $0.91 in the same period. Its PEG reads 5.93 while making debt-to-equity ratio of 2.51. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ACRE, volatility over the week remained 2.47% while standing at 3.14% over the month.
Analysts are in expectations that Ares Commercial Real Estate Corporation (ACRE) stock would likely to be making an EPS of $0.32 in the current quarter, while forecast for next quarter EPS is $0.35 and it is $1.42 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.26 which is $0.38 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.37 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 115.30% while it is estimated to increase by 46.88% in next year. EPS is likely to shrink at an annualized rate of 2.29% for next 5-years, compared to annual growth of 9.30% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on October 31, 2022 offering a Buy rating for the stock and assigned a target price of $13 to it. Coverage by BTIG Research stated Ares Commercial Real Estate Corporation (ACRE) stock as a Buy in their note to investors on February 03, 2021, suggesting a price target of $13.50 for the stock. On November 20, 2020, Raymond James Downgrade their recommendations, while on June 30, 2020, Keefe Bruyette Upgrade their ratings for the stock with a price target of $10.50. Stock get an Outperform rating from Credit Suisse on January 08, 2020.