Ares Commercial Real Estate (NYSE:ACRE) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Ares Commercial Real Estate Corporation (NYSE:ACRE) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.93 and traded as high as $5.11. Ares Commercial Real Estate shares last traded at $5.0950, with a volume of 288,420 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ACRE shares. Keefe, Bruyette & Woods increased their target price on Ares Commercial Real Estate from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Wells Fargo & Company raised their price target on shares of Ares Commercial Real Estate from $4.00 to $5.00 and gave the stock an “underweight” rating in a research note on Thursday, February 12th. Zacks Research downgraded shares of Ares Commercial Real Estate from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ares Commercial Real Estate in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $5.33.

Ares Commercial Real Estate Stock Up 1.8%

The company has a market cap of $291.52 million, a PE ratio of -263.25 and a beta of 1.20. The stock’s 50 day simple moving average is $5.02 and its two-hundred day simple moving average is $4.94.

Ares Commercial Real Estate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.60 annualized dividend and a yield of 11.4%. Ares Commercial Real Estate’s dividend payout ratio is currently -3,000.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACRE. AQR Capital Management LLC acquired a new stake in shares of Ares Commercial Real Estate in the first quarter worth $129,000. Acadian Asset Management LLC purchased a new stake in shares of Ares Commercial Real Estate in the first quarter worth about $166,000. Strs Ohio acquired a new stake in shares of Ares Commercial Real Estate in the first quarter valued at about $47,000. Rhumbline Advisers raised its holdings in shares of Ares Commercial Real Estate by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 83,886 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 5,107 shares during the period. Finally, Prudential Financial Inc. acquired a new position in Ares Commercial Real Estate during the 2nd quarter worth approximately $187,000. 41.34% of the stock is owned by institutional investors and hedge funds.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.