Ares Commercial, TPG RE Finance, BrightSpire cut at BofA on CRE headwinds [Seeking Alpha]
Ares Commercial Real Estate Corporation (ACRE)
Last ares commercial real estate corporation earnings: 2/20 06:00 am
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arescre.com
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Source: Seeking Alpha
The analyst donwgraded Ares Commercial Real Estate ( NYSE: ACRE ) to Underperform from Buy, and TPG RE Finance Trust ( NYSE: TRTX ) and BrightSpire Capital ( NYSE: BRSP ) to Underperform from Neutral. TPG RE Finance ( TRTX ) stock slumped 4.0%, BrightSpire ( BRSP ) slid 3.9%, and Ares Commercial ( ACRE ) dipped 1.8% in Monday premarket trading. He expects that the next few quarters "may be choppy" with risks to the downside. For ACRE and BRSP, Dray points to their high office exposures. For TRTX, he sees its dividend at risk due to a 30% decline in its portfolio size, which reduces its earnings potential. He credits TRTX for cleaning up its legacy loan book, but "we think more credit issues may arise given the difficult backdrop for CRE and want to see several quarters of solid credit before we declare TRTX 'all clear' on credit." Still, BofA raised its price target on TPG RE Finance to $6.50 from $6.00. BrightSpire ( BRSP ) also has multifamily exposure, and has a high propo
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ACRE
News
- Ares Commercial Real Estate Corporation Schedules Earnings Release and Conference Call for the First Quarter Ended March 31, 2024Accesswire
- Greystone Housing: 9.6% Tax Advantaged Yield, Where We Would Buy [Seeking Alpha]Seeking Alpha
- Ares Commercial: Another Distribution Cut Highly Probable In 1 Year [Seeking Alpha]Seeking Alpha
- Ares Commercial Real Estate Co. (NYSE: ACRE) had its price target lowered by analysts at Keefe, Bruyette & Woods from $8.00 to $7.50. They now have a "market perform" rating on the stock.MarketBeat
- Ares Commercial Real Estate Co. (NYSE: ACRE) had its price target lowered by analysts at JPMorgan Chase & Co. from $8.00 to $7.00. They now have a "neutral" rating on the stock.MarketBeat
ACRE
Earnings
- 2/22/24 - Beat
ACRE
Sec Filings
- 4/4/24 - Form ARS
- 4/4/24 - Form DEFA14A
- 4/4/24 - Form DEF
- ACRE's page on the SEC website