Ares Commercial Real Estate Cor (NYSE:ACRE).
Nomura Holdings Inc reports that it increased its ownership in Ares Commercial Real Estate Cor stock by 9.1% in its quarterly SEC filing. Its stake was valued at $6,351,000 an increase of $619,000 as of the end of the quarter.
These firms have modified their investment in ACRE. Kennedy Capital Management, Inc. added to its holdings by buying 129,411 shares an increase of 75.8% as of 09/30/2017. Kennedy Capital Management, Inc. controls 300,160 shares with a value of $3,995,000. The total value of its holdings increased 78.7%. Relative Value Partners Group, LLC augmented its ownership by buying 44,405 shares an increase of 16.8% in the quarter. Relative Value Partners Group, LLC claims 308,840 shares valued at $4,194,000. The value of the position overall is up by 21.2%.
Millennium Management LLC expanded its stake by buying 239,465 shares an increase of 155.2%. Millennium Management LLC now controls 393,754 shares worth $5,241,000. The total value of its holdings increased 159.5%.
Keefe, Bruyette & Woods updated its forecast on ACRE and giving a rating of “Hold” and setting a price target of $14.00. August 10 investment analysts at JMP Securities held the stock rating at “Outperform” projecting a price of $14.50.
Equity analyst JMP Securities raised the price target of the stock on August 7 boosting the projection from $0.00 to $14.00 and issued a “Market Outperform” rating. August 4 investment analysts at Credit Suisse Group maintained a “Hold” rating on the company.
The company is trading up by 0.38% percent from yesterday’s close. Ares Commercial Real Estate Cor currently has a P/E ratio of 11.58 and market cap is 374.81M. In the latest earnings report the EPS was $1.13 with 28.59M shares presently outstanding.
Investors are feeling more bearish on shares of Ares Commercial Real Estate Cor recently if you evaluate the rise in short interest. The firm recorded a rise in short interest from October 13, 2017 to October 31, 2017 of 6.75%. Short shares increased from 181,877 to 194,155 over that period. Days to cover decreased from 2.0 to 2.0 and the percentage of shorted shares was 0.01% on October 31.