Wells Fargo Starts Ares Commercial (ACRE) at Outperform; Strong Company Within mREIT Sector

Wells Fargo initiates coverage on Ares Commercial (NYSE: ACRE) with an Outperform. PT range $19-21.

Analyst, Joel Houck, said, "Our rating is based on (1) ACRE’s strong and seasoned management team along with its affiliation with Ares Management, (2) ACRE’s platform advantage through a direct middle market focused origination platform, (3) ACRE’s flexible financing solutions entailing a variety of structures not readily available in today’s environment for middle market commercial real estate borrowers. We are establishing 2012 and 2013 EPS estimates of $0.76 and $1.89, respectively."

For an analyst ratings summary and ratings history on Ares Commercial click here. For more ratings news on Ares Commercial click here.

Shares of Ares Commercial closed at $16.76 yesterday.

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