Fly Intel: Top five analyst upgrades » 10:0306/3006/30/20
WBK, CROX, PPG, AWI, TOL, ACRE
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Westpac (WBK) upgraded to Buy from Neutral at Goldman Sachs with analyst Andrew Lyons saying the company look well placed to deal with the end of the deferral period and is trading nearly two-third standard deviations cheap versus peers. 2. Crocs (CROX) upgraded to Buy from Hold at Loop Capital with analyst Laura Champine citing her industry checks showing strong e-commerce trends and stores reopening with positive comps, even though Champine warns that her model assumes that most stores will remain open against the risk of a second pandemic wave closing the economy again. 3. PPG (PPG) upgraded to Outperform from Market Perform at BMO Capital with analyst John McNulty saying recent time with management and data tied to the company's end markets indicate the potential for PPG's earnings to recover over the second half of 2020, and 2021/22 should come in above expectations. 4. Armstrong World (AWI) upgraded to Outperform from Neutral at Exane BNP Paribas. 5. Toll Brothers (TOL) and Ares Commercial (ACRE) were upgraded to Outperform from Market Perform at Keefe Bruyette. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Keefe Bruyette upgrades Ares Commercial to Outperform, likes 14.8% yield » 16:2706/2906/29/20
Keefe Bruyette analyst…
Keefe Bruyette analyst Jade Rahmani upgraded Ares Commercial Real Estate to Outperform from Market Perform with a price target of $10.50, up from $9. After underperforming peers by 15% since mid-March, the shares are attractive at 0.64 times book value with a 14.8% dividend yield, Rahmani tells investors in a research note. The analyst views Ares Commercial's 95% senior loans, short weighted loan duration of 1.6 years, 94% of loans with LIBOR floors, and low retail exposure as positive portfolio attributes.
Ares Commercial upgraded to Outperform from Market Perform at Keefe Bruyette » 16:1506/2906/29/20
Keefe Bruyette analyst…
Keefe Bruyette analyst Jade Rahmani upgraded Ares Commercial Real Estate to Outperform from Market Perform with a $10.50 price target. The analyst favors the company's valuation discount to peers as well as its mid-market portfolio.
|Over a month ago|
Ares Commercial reports Q1 core EPS 32c, consensus 34c » 06:0305/0805/08/20
Reports Q1 revenue…
Reports Q1 revenue $21.13M, consensus $14.1M. CEO Bryan Donohoe stated, "We strategically structured our portfolio to be comprised of 95% senior loans with 62% collateralized by multifamily, office and industrial properties with limited exposure to hotel and retail properties. As of quarter end, our portfolio has performed relatively well with no impairments and we received all loan debt service payments for the April 2020 payment date. Our funding structure is diversified across ten different sources of capital with relationship financial institutions that do not contain margin call provisions based on changes in market borrowing spreads," said Tae-Sik Yoon, CFO. "In addition, we have purposefully diversified the composition of senior loans that we finance with each of our lenders."
Ares Commercial price target lowered to $9 from $17.50 at Credit Suisse » 07:1404/2704/27/20
Credit Suisse analyst…
Credit Suisse analyst Douglas Harter lowered the firm's price target on Ares Commercial to $9 from $17.50 following the market volatility in the first quarter and expectation for lower book values and higher loan loss reserves and loan modifications as a result of the global pandemic. The analyst keeps an Outperform rating on the shares.
Ares Commercial confirms Q1 dividend of 33c per share » 06:0404/0704/07/20
The company said,…
The company said, "On February 20, 2020, our Board of Directors declared a first quarter dividend of 33c per share payable on April 15, 2020, to stockholders of record as of March 31, 2020, and we confirm that we will pay this dividend in cash on the scheduled date."
|Over a quarter ago|
Ares Commercial reports Q4 core EPS 37c, consensus 36c » 06:1402/2002/20/20
Reports Q4 revenue…
Reports Q4 revenue $21.58M, consensus $12.53M.
Ares Commercial 4M share Spot Secondary priced at $16.09 » 07:3801/2301/23/20
The deal range was…
The deal range was $16.09-$16.38. Wells Fargo, Citi and Morgan Stanley acted as joint book running managers for the offering.
Ares Commercial 4M share Spot Secondary; price range $16.09-$16.38 » 16:2001/2201/22/20
Wells Fargo, Citi and…
Wells Fargo, Citi and Morgan Stanley are acting as joint book running managers for the offering.
Ares Commercial files to sell 4M shares of common stock » 16:1501/2201/22/20
Wells Fargo Securities,…
Wells Fargo Securities, Citigroup and Morgan Stanley are acting as the joint book running managers for the offering, and JMP Securities and Raymond James are acting as co-managers for the offering.