Ares Commercial Real Estate Corporation (NYSE:ACRE – Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.96 and traded as low as $4.43. Ares Commercial Real Estate shares last traded at $4.4340, with a volume of 335,920 shares.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. UBS Group assumed coverage on Ares Commercial Real Estate in a research note on Tuesday, June 2nd. They issued a “neutral” rating and a $5.50 target price for the company. Zacks Research cut Ares Commercial Real Estate from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ares Commercial Real Estate in a report on Monday, May 11th. Keefe, Bruyette & Woods cut their price target on Ares Commercial Real Estate from $6.00 to $5.50 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of Ares Commercial Real Estate from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $5.38.
Check Out Our Latest Stock Report on Ares Commercial Real Estate
Ares Commercial Real Estate Price Performance
Ares Commercial Real Estate (NYSE:ACRE – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Ares Commercial Real Estate had a negative net margin of 37.21% and a negative return on equity of 2.80%. The company had revenue of $13.46 million for the quarter, compared to the consensus estimate of $11.63 million. Equities research analysts forecast that Ares Commercial Real Estate Corporation will post 0.4 EPS for the current fiscal year.
Ares Commercial Real Estate Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 13.5%. The ex-dividend date is Tuesday, June 30th. Ares Commercial Real Estate’s payout ratio is -166.67%.
Institutional Trading of Ares Commercial Real Estate
Large investors have recently bought and sold shares of the stock. Alpine Global Management LLC purchased a new position in Ares Commercial Real Estate in the 3rd quarter worth $2,679,000. Sei Investments Co. lifted its holdings in Ares Commercial Real Estate by 88.8% in the first quarter. Sei Investments Co. now owns 84,596 shares of the real estate investment trust’s stock valued at $406,000 after acquiring an additional 39,800 shares during the period. Optiver Holding B.V. lifted its stake in shares of Ares Commercial Real Estate by 603.3% in the 1st quarter. Optiver Holding B.V. now owns 6,513 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 5,587 shares during the period. Access Investment Management LLC raised its position in shares of Ares Commercial Real Estate by 31.5% in the first quarter. Access Investment Management LLC now owns 112,700 shares of the real estate investment trust’s stock worth $541,000 after acquiring an additional 27,000 shares during the period. Finally, State of Wyoming purchased a new position in Ares Commercial Real Estate during the first quarter worth approximately $199,000. Hedge funds and other institutional investors own 41.34% of the company’s stock.
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.
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