Bank of America Starts Stock Coverage on Ares Commercial Real Estate Corp (ACRE)

By admin | 6 years ago

Research analysts at Bank of America (NYSE: BAC) assumed coverage on shares of Ares Commercial Real Estate Corp (NASDAQ: ACRE) in a report released on Monday. The firm set a “buy” rating and a $19.00 price target on the stock.

Ares Commercial Real Estate Corp opened at 17.00 on Monday. Ares Commercial Real Estate Corp has a 52-week low of $16.02 and a 52-week high of $18.07. The company has a market cap of $157.0 million and a price-to-earnings ratio of 24.71.

ACRE has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus initiated coverage on shares of Ares Commercial Real Estate Corp in a research note to investors on Monday. They set a “buy” rating and a $19.50 price target on the stock. Separately, analysts at Wells Fargo & Co. (NYSE: WFC) initiated coverage on shares of Ares Commercial Real Estate Corp in a research note to investors on Monday. They set an “outperform” rating on the stock. Finally, analysts at JPMorgan Chase (NYSE: JPM) initiated coverage on shares of Ares Commercial Real Estate Corp in a research note to investors on Monday. They set an “overweight” rating and a $18.50 price target on the stock.

Ares Commercial Real Estate Corporation is a specialty finance company. The Company is focused on originating, investing in and managing middle-market commercial real estate (CRE) loans and other commercial real estate-related investments.

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